Panerai: How the luxe watch brand blends heritage with technology

With a nod to its rich heritage dating back to 1860, Panerai has continuously pushed boundaries, epitomising a fusion of Italian craftsmanship with Swiss precision.

Even today, Panerai remains at the forefront of horological innovation, adapting to the evolving tastes of discerning collectors worldwide. From supplying precision instruments to the Italian Navy to captivating enthusiasts with its iconic designs, Panerai has cemented its position as a pioneer in the industry.

With a keen eye on the future, Panerai embraces experimentation, introducing wearable sizes and innovative case materials while staying true to its distinctive aesthetic across its collections, including its latest releases at the recent Watches and Wonders.

Here, we delve into the world of Panerai with the brand’s CEO, exploring the inspiration behind their latest releases and the enduring legacy that continues to shape the future of luxury watchmaking.

What sets Panerai apart from other haute horology brands?

Panerai distinguishes itself with its Italian design heritage and Swiss technical expertise, creating a unique brand identity. The combination of Italian creativity and Swiss precision results in a distinct proposition, with watches reflecting both form and function.

This approach, coupled with protected design trademarks and a dedication to innovation, underscores Panerai’s uniqueness derived from its history as an exclusive military supplier.

Tell us about Panerai’s novelties for the year.

This year, the focus is on Panerai’s Luna Rossa range, particularly the ‘Submersible’ series of timepieces. Five new timepieces, each with distinctive features, have been unveiled. The Submersible GMT Luna Rossa Titanio pays homage to the official America’s Cup races, taking place in Barcelona between August and October this year.

PAM01507 debuts during the Watches and Wonders 2024 week as the first watch to feature the new Super-LumiNova X2, ensuring a luminosity 10 per cent higher than its predecessor after 180 minutes in the dark. This watch features a 42mm case made from Grade 5 titanium, known for its remarkable lightness and strength.

The Submersible Tourbillon GMT Luna Rossa Experience Edition PAM01405,

limited to 20 pieces, offers clients an exclusive opportunity to experience the America’s Cup finals in Barcelona. The Submersible Luna Rossa PAM01565, launched on the second day of Watches and Wonders 2024, features an intuitive interchangeability system for switching between straps effortlessly.

Additionally, the Submersible QuarantaQuattro Luna Rossa Ti-CeramitechTM PAM01466 and PAM01543 showcase the new innovative material, Ti-CeramitechTM, reflecting the ethos of the Luna Rossa Prada Pirelli team and pushing the boundaries of innovation.

Can you discuss the brand’s approach to manufacturing?

Panerai captures know-how on strategic materials and products but doesn’t intend to do everything internally.

Cases and movements are produced internally, and watches are assembled and rigorously controlled according to strict standards and procedures.

What key decisions have you made recently to support and enhance Panerai’s regional growth?

Our key decisions have focused on retail expansion and direct-to-consumer strategies to strengthen Panerai’s regional footprint.

In 2023, the physical presence was expanded with boutique openings in Qatar and Kuwait and further expansions are planned, including a new boutique in Bahrain and a potential opening in Saudi Arabia, to increase the distribution network and elevate service levels.

How do you foresee market changes affecting Panerai, especially in the Middle East region?

The Middle East holds a key position for Panerai, with immense growth potential. Monitoring global trends allows customisation of offerings to align with evolving preferences in dynamic markets like the Middle East.

Panerai’s strategy includes introducing new timepieces crafted from precious materials and high-end complications to cater to the sophisticated preferences of Middle Eastern clientele.

What current trends do you anticipate impacting the Middle East market?

In the Middle East market, there’s an evolving relationship between younger consumers and luxury items, with an increased appreciation for timeless pieces that blend tradition with innovation. This trend is driven by a growing admiration for technicity and heritage, positioning luxury watches as statements of legacy and style with a timeless appeal.

What novelties are you introducing to the region, and does the market impact the number released?

While there are no region-specific novelties at the moment, Panerai is attentive to new developments and aims to better serve the market with timepieces that strategically align with local demands and the brand’s DNA.