The Panerai watch company was founded in Italy by Giovanni Panerai back in 1860. Giovanni set-up the small family based business on the Ponte alle Grazie in Florence, and soon developed a reputation as being a truly skilled watch maker. The business was taken over by Giovanni’s son, Leon Francesco Panerai, in 1897 after his passing. Leon built on his father’s legacy and continued to create precise and beautiful timepieces for a local market.
At the same time Leon took over his father’s business, his son Guido Panerai had begun to design and manufacture high-precision mechanical instruments. By 1900, with the company now under the leadership of grandson Guido, Panerai had become the official supplier to the Regia Marina (the Royal Italian Navy) – delivering watches and precision instruments. This was the cornerstone to the company’s eventual success, and helped build its reputation for high quality, precision timepieces.
Panerai was eventually renamed Officine Panerai, and even today you can see the influence the partnership between Panerai and the Royal Navy has on the collections. Panerai produced wrist worn diving instruments and approximately 300 watches for the Italian Navy between 1938 and 1993, and the watches are still being made to the exact standards, precision and quality of the formative years of the company, despite its continued success within the luxury watch market.
Up until 1993, Panerai had dealt exclusively with the Royal Navy, with the technology developed being a closely guarded secret. This meant they could not sell to the general public until the partnership ended. In 1993, the company finally produced a re-edition of their Mare Nostrum, Luminor and Luminor Marina models in strictly limited quantities for the civilian market. These sold out extremely quickly and this initial success convinced Officine Panerai to enter the luxury market.
Panerai now has four major lines of watches: Historic, Contemporary, Manifattura and Special Editions. Most of the watches are only produced in very limited quantities of 500, 1000, 2000 or 4000 units, each with an issue number integrated onto the back of the case – just adding to their appeal for investors and collectors.
Today Officine Panerai continues to create high quality timepieces which are influenced by the rich history the company had with the Royal Italian Navy. The special editions and limited runs of each watch model mean that if you manage to get your hands on one of these sought after watches, you know you will be in an exclusive club of watch enthusiasts who appreciate beautiful Italian design, fused with military grade precision.
Panerai is available at TIME² in Selfridges and is due to launch online shortly.
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