While global high-end brands are stepping up the battle for Asia's burgeoning luxury shoppers, Geneva-based watch manufacturer Patek Philippe prefers to keep things slow.
"We don't want to put all our eggs in the same basket so we are very careful not to increase too much in Asia," Philippe Stern, honorary president of the 175-year old Swiss firm told CNBC's "Managing Asia".
"[Our Asian business] started in 1966 Japan, which was a booming country where we could have sold plenty but we slowed things down. Japan was almost seeing 30 percent of sales but I said no more and today, it is the same thing for Asia. [Sales] may go up to 32 or 33 percent but it is never going to be much higher," the third generation owner of the business added.
Europe currently accounts for half of Patek Philippe's sales, while Asia makes up nearly 30 percent. The prestigious brand, whose luxury watches fetch more than $5 million apiece, is known to be the last family-run Swiss watchmaker from Geneva.
The company recently launched its second "Maison Patek Philippe" in the capital of one of the world's most coveted luxury market – China. Unlike the aggressive expansion taken on by its peers, the watch retailer has just three other stores in the mainland since entering the market in 2005.