History of Officine Panerai

Giovanni Panerai

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The history 1860-1996


The Officine Panerai story has deep roots. It was back in 1850 that Giovanni Panerai opened his little watch-making workshop in Florence, thus becoming the city’s first watchmaker. Thanks to the solid relationship he built up with the finest manufacturers in Switzerland, together with his family he began assembling watches, over time specializing in the art and techniques of assembly, maintenance and care of watches and other measuring instruments. This laid the foundations for what would become a unique story, one without parallel in the world of watch making.

1860
Giovanni Panerai (1825-1897), founder of the family business, opens the first watchmaker’s shop in Florence on the Ponte alle Grazie and establishes contact with the most prestigious and longest established Swiss watch manufacturers.
Giovanni is succeeded by his son, Leon Francesco.

1890 – 1900
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.

1900
At the turn of the century, the shop moves to the Piazza San Giovanni site in Florence, where the Panerai boutique can be found today, and the Orologeria Svizzera name, still visible today, appears on the shop door to underline the close link between the watches and their Swiss origin. In this period, the first deliveries of precision optical and mechanical instruments are made to the Ministry of Defence.

1910
The first experiments with luminous materials begin and a system is developed to make instrument dials and sighting and telescopic devices luminous. The luminescence is achieved using a mix of zinc sulphide and radium bromide given later the name Radiomir. Inserted into tiny glass tubes to increase its resistance over time, this mix was the subject of patent applications by Guido Panerai in Italy and other countries.

1915-18
The Royal Italian Navy employs the precision instruments supplied by Panerai during the First World War. The products delivered include luminous devices for sighting naval guns at night, timing mechanisms, depth gauges and mechanical calculators to launch torpedoes from MAS, high speed motor torpedo boats.

1934
Guido Panerai’s children, Giuseppe and Maria, continue developing their father business. Maria is mainly concerned with running the Orologeria Svizzera shop while Giuseppe devoted himself almost entirely to the company’s business of supplying underwater instruments, torches, wrist compasses and depth gauges to the Royal Italian Navy. He can take credit for the creation of the famous Radiomir and Luminor watches.

1936
Following disappointing tests carried out on the watches available at that time, the Royal Italian Navy asks Panerai to develop a watch able to withstand the extreme conditions it will be subjected to. A Radiomir prototype is submitted to the Command of the First Submarine Group and the watch passed all the tests with flying colours.

1938
Production of Radiomir watches begins for the Italian Navy, with a large (47 mm in diameter) cushion-shaped case, wire loop strap attachments welded to the case, screw-down crown, luminous dial easy to read under water in the dark, and a hand-wound mechanical movement supplied by Rolex. The wide strap was made of oiled and punched leather, and with its extra long length it could be worn over the diving suit.

1943
Officine Panerai presents the prototype of the first Panerai chronograph, the Mare Nostrum, designed for deck officers. Due to events in the war, the Mare Nostrum never went into production but remained at the prototype stage.
The device protecting the winding crown was fitted to the Radiomir watch to keep the crown in position. This device will enable the watches to descend to a depth of 200
metres, a remarkable achievement for the time.
1949
The patent is granted for Luminor, the luminous substance based on tritium, which replaced the previous Radiomir mix developed between 1910 and 1915. The Radiomir and Luminor watches take their names from these two luminous substances.

1956
On the request of the Egyptian Navy, Panerai creates a large Radiomir watch with an Angelus movement with 8-day power reserve and 5-minute intervals to calculate immersion times. For other Mediterranean Navies, Panerai makes limited production runs of approximately thirty pieces each. In the same year the patent is granted in Italy for the device protecting the winding crown, which clamps it in position and ensures the water-resistance of the watch. This device will be patented in the U.S.A. in 1960.

1972
On the death of Giuseppe Panerai, the running of the Florentine company is handed over to the engineer Dino Zei and the family firm becomes Officine Panerai s.r.l. The close collaboration with the Italian Navy continues in the supply of watches, instruments and sophisticated devices for its men.

1980
A watch is designed capable of withstanding a pressure equivalent to a depth of 1000 metres. The only prototype built has a titanium case, an automatic mechanical movement, a rubber strap and a luminous dial achieved by using tiny phials of tritium on the dial face and on the hands.

1993
Officine Panerai creates a numbered series in a limited edition of models aimed at the civilian market: Luminor, Luminor Marina and an edition of the Mare Nostrum chronograph.

1995
A special edition of watches called Slytech is created. Sly is the nickname of actor Sylvester Stallone, a great admirer of the watch, who had requested a special edition called Submersible to use during the shooting of the movie Daylight. Subsequently, Stallone requested an edition with a white dial, named Daylight, and a personalized re-edition of the Mare Nostrum. All of these watches bear the actor's signature engraved on the back.

1997
The Vendôme Group, now Richemont, takes over Officine Panerai and the company's range of watches, compasses, torches and depth gauges.
New productions are started up, with a significant improvement in quality, and the official watch of Italian Navy commandos takes on an international dimension following a worldwide launch.

1998
The first Panerai watches with automatic mechanical movements are presented to an international public: the Luminor Submersible professional diver's watch; the Luminor GMT with a second time zone indication and the Luminor Power Reserve with a function of high quality watchmaking which enables the power reserve to be read.

1999
At the International Salon of Haute Horologerie in Geneva, Panerai presents a new range of Contemporary watches based on important innovative features: a smaller case, 40 mm in diameter; a Panerai Luminor fitted with a metal bracelet; the use of the chronograph function and an exclusively designed Luminor chronograph case, in which the push-pieces are integrated into the device protecting the crown in total respect of the aesthetic of the historic watch; the use of a titanium-steel combination for the case parts and the links of the bracelet of the Panerai Luminor Chrono.

2000
Panerai creates the Luminor Submersible 1000 metres, a professional diver's instrument designed according to the NIHS (Normes de l'Industrie Horlogère Suisse) specifications relating to diver's watches and able to withstand a depth of 1000 metres. Equipped with a helium valve necessary for decompression, the sapphire crystal has a thickness of 5.1 mm and the steel back is 3 mm thick.

2001
The Panerai Boutique is inaugurated, following restyling, at the historical site in Piazza San Giovanni in Florence, following the purchase of the family boutique by Officine Panerai. This Bottega d'Arte represents a meeting point for enthusiasts and collectors of the brand who can find here, in addition to the current collection, special editions and production runs which Panerai reserves exclusively for its boutiques.The shop also plays host to the Panerai Historical Archive, a selection of historical items created by the Florentine company: watches, compasses, depth gauges, torches and horology instruments.

2002
The first Panerai boutique in Asia opens in the Prince's Building in Hong Kong. Officine Panerai opens the Manufacture in Neuchâtel, where all activities relating to the development and production of watches are based.

2003
The Panerai Boutique in Portofino is opened in this well-known Italian seaside resort. In the Boutique it is possible to admire exclusive collections and unique pieces, besides the watches belonging to the contemporary range.

2004
Radiomir collection is enhanced by the 8 Days model. This is a return to the past, with the re-presentation in a modern key of a mechanism which Officine Panerai has already experimented with, the hand-wound 8-day movement. The calibre used in the 1940s was the Angelus, while the new model has a Jaeger-LeCoultre base. The case is 45 millimetres in diameter and is fitted with the patented slim wire loop strap attachments and a round caseband, while the screwed back and crown ensure water-resistance to 100 metres.

2005
Viene presentato il primo movimento Panerai: il calibro P.2002
Panerai inaugurates the first edition of the Panerai Classic Yacht Challenge

2006
Al SIHH (Salon International de la Haute Horlogerie) di Ginevra sono state presentate le nuove collezioni Panerai e Ferrari.



TEN YEARS OF IDEAS
1997-2006


1997 Officine Panerai is acquired by the Richemont Group (then Vendôme): 1,000 watches are put on the market with immediate success.

1998 International launch of Panerai watches at the Salon International de la Haute Horlogerie de Genève. A selective network of 150 specialised dealers represents Panerai in the world. After 10 years will reach 450 worldwide dealers, proof of the will of maintaining an exclusive distribution network. The Contemporary Collection is born, including automatic mechanical movement models. The successful sale of the Radiomir with Rolex movement, entirely reviewed by Panerai, in a unique production of 60 units shows a great interest among the collectors. Today it is possible to buy this model in the auctions with a doubled value.

1999 Panerai launches the Luminor 40mm version, proposed with a special titanium and steel bracelet; the watchmaking feature of the Brand becomes stronger with the production of a Luminor Chrono 40mm.

2000 The long tradition that links Panerai to the sea world, continues with the launch of the first Luminor model water-resistant to 1,000 metres. Panerai inaugurates the sponsorship action in the sailing world through the Laureus Sports Awards. In this occasion the Luminor Regatta is presented to the market, first of a range of watches as testimonial of Panerai passion for the sea.

2001 Panerai presents two new exclusive Calibres OPVIII (second time zone function) and OPIX (power reserve function). Panerai chooses the explorer Mike Horn to taste new models of watches in extreme conditions. Mike Horn becomes official testimonial of the Brand. In the same year, the historical boutique in Florence reopens.

2002 The Panerai Manifattura, or workshop, opens in Neuchâtel. Today all the watches are here produced and the most complicated movements of its collection are created by 40 high specialised watchmakers. The emblematic and very famous Luminor 1950 47mm is presented at the Salon International de la Haute Horlogerie de Genève. Produced in 1950 units this model is the most required among the collectors. Opening of the second Panerai Boutique in Hong Kong . Today Panerai owns 4 Boutiques in the world (Firenze, Portofino, Hong Kong, Los Angeles) and a boutique externally managed in Shanghai. The complete Historical Archive is presented for the first time to the public in June in Florence.

2003 The development of the Brand continues with the launch to the market of the first Chrono 44mm version. The Luminor Chrono Daylight, so called because it was used by Silvester Stallone (historical testimonial and great collector of Panerai watches) in the homonym movie Daylight. The choice of technological materials is one of the most important Panerai characteristics: this is the reason why after the creation of some models in titanium Panerai produces for the first time in the watchmaking history a Luminor with tantalum case, a material normally used in the fields of surgery and aeronautics, difficult to work with but highly resistant.

2004 Panerai underlines the strong link with seaworld and diving through the launch of the Luminor Submersible water-resistant to 2,500 metres and the Luminor Chrono 47 mm water-resistant to 1,000 metres. The brand sets in this way a record for water-resistance watches. At the end of the year Panerai begins the distribution of its watches in China.

2005 It is the year of a great turning-point: the first in-house movement entirely realised by Panerai is announced. It is the P.2002, 8 days of power reserve, GMT function and second reset. The Luminor 1950 is presented with an Angelus 8-days movement. Panerai decides to revive the same movement adopted in the models from the 1940s and 1950s, entirely reviewed by the Manufacture in Neuchâtel.
Panerai inaugurates the first edition of the Panerai Classic Yacht Challenge, a circuit of classic boats regattas in the Mediterranean.

2006 Panerai launches the Luminmor 1950 GMT 8 Days, the first Luminor with the P.2002 Calibre. In the same year, in partnership with the legendary carmaker from Maranello, the Ferrari engineered by Officine Panerai Collection is launched. Panerai Classic Yachts Challenge adds some important races in the USA and the Caribbean.

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