Panerai

{{Short description|Italian luxury watch manufacturer}} {{for|people with the name|Panerai (surname)}} {{Infobox company | name = Panerai | logo = Panerai logo.svg | logo_size = 250 | caption = | type = Subsidiary | fate = | predecessor = | successor = | foundation = {{Start date and age|1860}} in Florence, Tuscany, Italy | founder = Giovanni Panerai | location = Geneva, Switzerland | locations = | area_served = Worldwide | key_people = Emmanuel Perrin CEO, Olivier BertoinFinance Director | industry = Manufacturing | products = Luxury watches | services = | revenue = | operating_income = | net_income = | assets = | equity = | owner = | num_employees = 740 | parent = Richemont | divisions = | subsid = | homepage = {{URL|www.panerai.com}} | footnotes ={{Sfn|Richemont|2010|p=13}}{{Sfn|Richemont|2010|p=106}} }} '''Officine Panerai''' (also known simply as '''Panerai''') is an Italian luxury watch manufacturer, and a wholly owned subsidiary of Compagnie Financière Richemont S.A.<ref>{{Cite news|last=Swithinbank|first=Robin|date=2020-05-01|title=Panerai Celebrates the Luminor at 70|language=en-US|work=The New York Times|url=https://www.nytimes.com/2020/05/01/fashion/watches-panerai-luminor-70th-anniversary.html|access-date=2021-07-11|issn=0362-4331}}</ref>

Officine Panerai designs, manufactures and markets watches through authorized dealers and company-owned stores worldwide.{{Sfn|Richemont|2010|p=13}}{{Sfn|Richemont|2010|p=106}} Giovanni Panerai (1825–1897) founded Officine Panerai in Florence, Italy in 1860.

The company is headquartered in Geneva and manufactures watches in Neuchâtel, Switzerland using movements manufactured by Manufacture Horlogère ValFleurier.<ref>{{Cite web|title=FH - Officine Panerai - New Manufacture In Neuchâtel|url=https://www.fhs.swiss/eng/2012-03-22_971.html|access-date=2021-07-11|website=www.fhs.swiss}}</ref><ref>{{Cite web|date=2016-10-14|title=A Visit To The Officine Panerai Manufacture In Neuchâtel|url=https://www.fratellowatches.com/officine-panerai-manufacture-neuchatel/|access-date=2021-07-11|website=Fratello Watches - the magazine dedicated to watches|language=en-US}}</ref>

==History== thumb|upright=0.6|Employee of Panerai in front of the watch store in Florence in 1860

Giovanni Panerai (1825–1897) opened up his first watch shop in Florence, Italy in 1860.{{Sfn|Panerai|2011}} Giovanni's grandson Guido Panerai (1873–1934) expanded the watch shop "Orologeria Svizzera"<ref>{{Cite web|url=https://perezcope.com/2018/02/22/orologeria-svizzera-the-watch-shop/|title = Orologeria Svizzera – the Watch Shop|date = 22 February 2018}}</ref> and took over his wife's family business, a mechanical workshop. In 1915, Guido Panerai invented gun sights that were illuminated by a radium-226/zinc sulfide powder enclosed in small, hermetically sealed vessels.<ref>{{Cite web|url=https://worldwide.espacenet.com/patent/search/family/032676034/publication/GB191512270A?q=GB191512270|title = Espacenet – search results}}</ref> Radiomir, the name for the radium-based luminous mixture is derived from "radio mire", which is Italian for "radium sights". Panerai became an official supplier to the Regia Marina (the Royal Italian Navy), supplying a variety of technical equipment and precision instruments.{{Sfn|Panerai|2011a}} All Panerai watches, except for the GPF 2/56 were designed and manufactured by Rolex SA using pocket watch movements made by Swiss manufacturer Cortébert.<ref>{{Cite web|title=A Historically Important Collection Of Vintage Panerai Watches|url=https://www.phillips.com/article/66483373/a-historically-important-collection-of-vintage-panerai-watches|access-date=2021-07-11|website=Phillips|language=en}}</ref> The main driving forces behind the production of the first professional diving watches were Hans Wilsdorf of Rolex and Giuseppe Panerai.<ref>{{Cite web|last=Farago|first=Robert|date=2020-03-01|title=Rolex, Panerai and The Nazis|url=https://thetruthaboutwatches.com/2020/03/rolex-panerai-and-the-nazis/|access-date=2021-07-11|website=The Truth About Watches|language=en-US}}</ref>

The Florence-based workshop produced wrist-worn diving instruments and, between 1935 and 1970, delivered around 1,600 watches (c. 35 2533s, 1000 3646s, 24 6152s, 36 6154s, 500 6152/1s, and 60 GPF 2/56s), most of them to the Italian Marina Militare.{{Sfn|Prince|2003}} All watches, except for the GPF 2/56, were made by Rolex, and G. Panerai e Figlio produced only the dials for these watches. Panerai dials were rendered luminous with Radiomir, a highly radioactive radium-based self-luminous compound, and later in around 1965, with Luminor, a harmless compound activated by tritium.<ref>{{Cite web|url=https://perezcope.com/2019/11/30/luminor-2020-debunking-panerais-fictional-history-of-tritium-based-lume/|title=Luminor 2020 – Debunking Panerai's Fictional History of Tritium-Based Lume|date=30 November 2019}}</ref><ref>{{Cite web|date=2018-11-15|title=Solving the Panerai Dial Mystery|url=https://watchswiss.com/perpetual/solving-the-panerai-dial-mystery/|access-date=2021-07-11|website=Watches of Switzerland|language=en-US}}</ref>

The GPF 2/56 (Egiziano Grosso) was produced for the Egyptian Navy in 1956.<ref name=":0">{{Cite web|title=History of Panerai {{!}} The 1916 Company|url=https://www.the1916company.com/blog/history-of-panerai.html|access-date=2021-07-11|website=www.the1916company.com|language=en}}</ref> By 1970, the company ceased to provide watches to the Marina Militare, as they were neither cost-effective nor met the naval specifications. In 1993, it then moved to launch its products in the civilian market.<ref name=":0" /> Following its acquisition of Panerai, Richemont repositioned Panerai as a luxury watch brand and increased prices.{{Sfn|Christie's|2007}}<ref>{{Cite web |last=Beghelli |first=Chiara |date=2019-01-15 |title=Panerai diventa sponsor di Luna Rossa |url=https://www.ilsole24ore.com/art/panerai-diventa-sponsor-luna-rossa-AE6f5dEH |access-date=2023-03-22 |website=Il Sole 24 ORE |language=it}}</ref>

==Products== thumb|Ref. 3646 from 1944 with Rolex "California" dial Panerai offers watches across four marketing lines: Historic, Contemporary, Manifattura and Special Editions in runs of 500, 1000, 2,000 or 4,000 units; each with its issue number on the case back.<ref>{{Cite web|title=Panerai Historic, Contemporary, Manifattura, Special Edition, Ferrari and Pre-Vendome Models|url=http://www.paneraisource.com/panerai_categories.shtml|access-date=2021-07-11|website=www.paneraisource.com}}</ref> The company issues Special Editions by year. For example, in 2006 issued the ''1936 California Dial Radiomir'' special edition, a reissue of the first Panerai model presented to the Italian Marina Militare with production limited to 1936 units.<ref>{{Cite web|title=Panerai - A stainless steel limited edition cushion-shaped wristwatch with California dial, 2006 {{!}} Hong Kong Watch Auction: THREE Hong Kong Monday, November 28, 2016 Lot 890|url=https://www.phillips.com/detail/panerai/HK080216/890|access-date=2021-07-11|website=Phillips|language=en}}</ref>

When Ferrari's contract with watchmaker Girard-Perregaux expired in 2005, Ferrari and Panerai entered into a five-year agreement to design, manufacture and distribute Panerai watches carrying the Ferrari trademark.<ref>{{Cite web|title=Devil's Advocate: Panerai for Ferrari FER015 Perpetual |url=https://www.thewatchbox.com/blog/devils-advocate-panerai-ferrari-fer015-perpetual.html|access-date=2021-07-11|website=www.thewatchbox.com|language=en}}</ref> The collection was branded '''Ferrari engineered by Panerai''' and consisted of two product lines marketed as "Granturismo" and "Scuderia". The collection consisted of 11 models priced between US$5,000 and US$30,000.{{Sfn|Strandberg|2006}} The Panerai-Ferrari partnership ended in 2010.

== Clientele == Panerai watches have appeared on the wrist of multiple celebrities, politicians and other influential individuals, notably Sylvester Stallone who wore a Luminor model in the 1996 film, ''Daylight,''<ref>{{Cite web |last=Naas |first=Roberta |date=Nov 10, 2020 |title=Five Famous Watches From Sylvester Stallone’s Collection Go Up For Auction, Including A Prized Panerai |url=https://www.forbes.com/sites/robertanaas/2020/11/10/stallone-owned-panerai-luminor-worn-in-daylight-movie-goes-up-for-sale-at-phillipss-racing-pulse-auction/ |website=Forbes}}</ref> American football player Peyton Manning,<ref>{{Cite web |title=Watch Spotting: Super Bowl 50 Champion Peyton Manning Wearing A Panerai Radiomir On The Tonight Show With Jimmy Fallon |url=https://www.hodinkee.com/articles/super-bowl-50-champion-peyton-manning-wearing-a-panerai-radiomir-on-the-tonight-show-with-jimmy-fallon |access-date=2025-12-22 |website=Hodinkee |language=en}}</ref> former President of the United States Bill Clinton,<ref>{{Cite web |title=Watch Spotting: President Bill Clinton Wearing A Timex Ironman Triathlon 8 Lap To His Inauguration (1993) |url=https://www.hodinkee.com/articles/president-bill-clinton-wearing-a-timex-ironman-triathlon-8-lap-to-his-inauguration-1993 |access-date=2025-12-22 |website=Hodinkee |language=en}}</ref> and English actor Hugh Grant.<ref>{{Cite web |last=Christensen |first=Mike |date=2024-02-28 |title=Hugh Grant’s vintage Panerai is a grail we'd kill for |url=https://www.gq-magazine.co.uk/article/hugh-grant-vintage-panerai-radiomir-baftas-2024 |access-date=2025-12-22 |website=British GQ |language=en-GB}}</ref>

== Models ==

* Panerai Luminor *Panerai Luminor 1950 * Panerai Radiomir *Panerai Radiomir 1940 *Panerai Luminor Due *Panerai Ferrari *Panerai Luminor Submersible 1950

==See also== * List of Italian companies

==Notes== {{Reflist|30em}}

==References== {{Refbegin}} *{{cite web |url = http://www.luxist.com/2010/03/04/panerai-and-ferrari-officially-break-up/ |title = Panerai And Ferrari Officially Break Up |first = Ariel |last = Adams |date = 2010-03-04 |work = luxist.com |publisher = AOL Inc. |archive-url = https://web.archive.org/web/20110104112512/http://www.luxist.com/2010/03/04/panerai-and-ferrari-officially-break-up/ |archive-date = 2011-01-04 |access-date = 2011-01-24 |quote = Almost from the beginning the watches could not sell. Consumers disapproved of them, and stores couldn't move them. |url-status = dead }} *{{cite web |url = http://businessmontres.com/breve_1446.htm |title = Panerai-Ferrari: Divorce à l'italienne |first = Grégory |last = Pons |date = 2010-03-03 |work = Business Montres & Joaillerie, la Lettre International des Marchés Horlogers |publisher = Grégory Pons |location = Geneva, Switzerland |language = fr |trans-title = Panerai-Ferrari: Divorce Italian Style |archive-url = https://web.archive.org/web/20110103072932/http://www.businessmontres.com/breve_1446.htm |archive-date = 2011-01-03 |access-date = 2011-01-24 |quote = Ainsi donc, Panerai et Ferrari ne font plus écurie commune... |url-status = dead }}

*{{cite web |url = http://www.cigaraficionado.com/webfeatures/show/id/Watches-Monster-Watches_8369 |title = Monster Watches: How a movie muscleman spawned a trend that bulked up the wristwatch |first = David |last = Prince |date = 2003-12-01 |work = cigaraficionado.com |publisher = Cigar Aficionado Online |archive-url = https://web.archive.org/web/20101024202842/http://www.cigaraficionado.com/webfeatures/show/id/Watches-Monster-Watches_8369 |archive-date = 2010-10-24 |access-date = 2010-12-19 |quote = Stallone sparked the trend back in 1995 when he was window-shopping in Rome during the shooting of the film Daylight. |url-status = dead }}

*{{cite web |url = http://www.europastar.com/1002236578/ |title = Panerai and Ferrari |first = Keith W. |last = Strandberg |date = 2006-03-27 |work = europastar.com |publisher = Europa Star |archive-url = https://web.archive.org/web/20110719072558/http://www.europastar.com/1002236578/ |archive-date = 2011-07-19 |access-date = 2010-12-19 |quote = Panerai unveiled its newest product, the Ferrari Engineered by Panerai watch collection... |url-status = dead }}

*{{cite book |title = Annual Report and Accounts 2010 |url = http://www.richemont.com/images/stories/3%20Investor%20Relations/3_4_Reports/AnnualReports/richemont_ar2010.pdf |archive-url = https://web.archive.org/web/20110103115612/http://www.richemont.com/images/stories/3%20Investor%20Relations/3_4_Reports/AnnualReports/richemont_ar2010.pdf |archive-date = 2011-01-03 |access-date = 2010-12-19 |year = 2010 |publisher = Compagnie Financière Richemont S.A |isbn = 978-2-9700709-0-0 |quote = Officine Panerai operates through a network of authorized dealers as well as its own boutiques. |ref = {{SfnRef|Richemont|2010}} |url-status = dead }}

*{{cite web |url = http://www.panerai.com/s_page.xpd?id_lingua=2&id_sezione=37 |title = In-House Movements |year = 2010 |work = panerai.com |publisher = Officine Panerai Marketing e Communicazioni Srl |archive-url = https://web.archive.org/web/20110605151827/http://www.panerai.com/s_page.xpd?id_lingua=2&id_sezione=37 |archive-date = 2011-06-05 |access-date = 2010-12-19 |ref = {{SfnRef|Officine Panerai|2010}} |url-status = dead }}

*{{cite web |url = http://www.christies.com/LotFinder/lot_details.aspx?intObjectID=4982894 |title = Lot 321 / Sale 1348 |date = 2007-11-12 |work = christies.com |publisher = Christie's International Plc |archive-url = https://web.archive.org/web/20120404014121/http://www.christies.com/LotFinder/lot_details.aspx?intObjectID=4982894 |archive-date = 2012-04-04 |access-date = 2010-12-19 |quote = Price Realized CHF97,000 ($86,490) |ref = {{SfnRef|Christie's|2007}} |url-status = dead }}

*{{cite web |url = http://www.panerai.com/s_storia.xpd?mode=read_item&id_lingua=2&id_sezione=2&id_item=53&anno=1860 |title = Timeline 1860 |year = 2011 |work = panerai.com |publisher = Officine Panerai Marketing e Communicazioni Srl |archive-url = https://web.archive.org/web/20110605151820/http://www.panerai.com/s_storia.xpd?mode=read_item&id_lingua=2&id_sezione=2&id_item=53&anno=1860 |archive-date = 2011-06-05 |access-date = 2011-01-24 |quote = Giovanni Panerai (1825–1897), founder of the family business, opens the first watchmaker's shop in Florence on the Ponte alle Grazie... |ref = {{SfnRef|Panerai|2011}} |url-status = dead }}

*{{cite web |url = http://www.panerai.com/s_storia.xpd?mode=read_item&id_lingua=2&id_sezione=2&id_item=74&anno=1890-1900 |title = Timeline 1890–1900 |year = 2011 |work = panerai.com |publisher = Officine Panerai Marketing e Communicazioni Srl |archive-url = https://web.archive.org/web/20110830154419/http://www.panerai.com/s_storia.xpd?mode=read_item&id_lingua=2&id_sezione=2&id_item=74&anno=1890-1900 |archive-date = 2011-08-30 |access-date = 2011-01-24 |quote = Guido Panerai (1873–1934), grandson of the founder, expands his grandfather's business and gives it new impetus, specializing in high precision mechanisms and becoming official supplier to the Royal Italian Navy. |ref = {{SfnRef|Panerai|2011a}} |url-status = dead }}

*{{cite web | url = http://quillandpad.com/2014/03/24/panerai-radiomir-1940-chronograph-the-day-everything-changed/ | title = Panerai Radiomir 1940 Chronograph: The Day Everything Changed | first = Joshua | last = Munchow | date = 2014-03-24 | work = quillandpad.com | publisher = Quill & Pad | access-date = 2014-03-16 | quote = It must be taken into consideration, however, that Panerai didn’t build watches for the public; instead it only produced tool watches for the Italian Navy, which means that Panerai watches were always, first and foremost, tools to be used.. }}

*{{cite web | url = http://www.paneraibook.com/ | title = Panerai - Una storia italiana | first = Loris | last = Pasetto | date = 2013 | work = www.paneraibook.com | publisher = Loris Pasetto & Luciano Cipullo | quote = Rolex S.A. produced 24 of the 6152 reference number and 36 of the 6154's. Official sources tell us that the Italian Navy bought 30 patented underwater watches in 1954 so it is plausible to presume that this lot was made up of a mix of 6152's and 6154's, which had been acquired for testing purposes. }}

*{{cite web | url = https://perezcope.com/2017/03/17/the-history-of-panerai-watches-at-a-glance/ | title = The History of Panerai Watches at a Glance | first = Jose | last = Pereztroika | date = 2017 | website = www.perezcope.com | publisher = Jose Pereztroika | quote = Panerai is pure history! To visualize the amazing evolution of 'Panerai' watches, I created a comprehensive, contextual and highly visual timeline that displays every relevant watch and the events that had an effect on its production, looks and use. }}

==External links== {{Commons category}} * {{official website}}   * [https://perezcope.com/2017/03/17/the-history-of-panerai-watches-at-a-glance/ The History Of Panerai Watches At A Glance] * [http://www.perezcope.com/ Vintage Panerai under the loupe at Perezcope] * {{cite web |url= https://paneraireview.com/panerai-history/panerai-during-world-war-two/ |title= Panerai during World War Two |author= |publisher= paneraireview.com |access-date=October 22, 2025 |url-status=dead |archive-url= https://web.archive.org/web/20190414133459/https://paneraireview.com/panerai-history/panerai-during-world-war-two/ |archive-date=April 14, 2019 }} * {{Citation | url = http://www.timeandwatches.com/p/history-of-panerai-luminor.html | title = History of the Panerai Luminor }} * [http://en.worldtempus.com/article/watches/innovation-and-technology/why-not-the-panerai-pam-590-18227.html Review of the famous PAM590] * [https://perezcope.com/2019/11/30/luminor-2020-debunking-panerais-fictional-history-of-tritium-based-lume/ Luminor 2020 – Debunking Panerai's fictional history of tritium-based lume]

Category:Italian companies established in 1860 Category:Italian brands Category:Luxury brands Category:Manufacturing companies based in Florence Category:Military equipment of Italy Category:Richemont brands Category:Watch brands Category:Watch manufacturing companies of Italy Category:Watch movement manufacturers