

Since its inception in 1860 by Giovanni Panerai in Florence, Italy, the company has produced precision instruments for use by the Italian Navy, migrating to watches made specifically for these Navy Commandos as early as the 1930's. With the revival of Panerai in 1997, the firm has taken their patented design to a new level.
Panerai is the maker of luxury watches and is well known throughout the world by watch enthusiasts. To own a Panerai watch is to be a true connoisseur. The Panerai Company has been making timepieces since 1860 when Giovanni Panerai opened his watchmaker's shop in Florence Italy. In 1934, he created the world famous Radiomir and Panerai Luminor watches. Panerai watches, despite their durability and precision, were not sold to the general public. In fact, much of the technology developed was a guarded secret of the Italian Navy. These watches were only produced in small quantities and only made to order, typically only 30 at a time.
It was only 15 years ago, in 1992, that Panerai produced a limited re-edition of their Mare Nostrum and their Luminor (originally designed and produced as prototypes for the Italian Navy during World War II, but never produced due to the war ending). These two watches were so well received by the general public that they sold out almost immediately. This immediate success convinced Officine Panerai to enter the luxury watch market.
Today Panerai watches are sought after and revered for the tactical instruments and fine timepieces that they represent. As demonstrated by their legacy, Panerai watches are world-renowned and stand the test of time.
From 1860 when Giovanni Panerai founded the family business, Officine Panerai has had a long and storied past. Between 1890-1900 Guido Panerai, 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.
1910 saw 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.
From 1915-1918 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.

In 1934 Guido Panerai's children, Giuseppe and Maria, continue developing their father's business. Maria is mainly concerned with running the Orologeria Svizzera shop, while Giuseppe devotes himself almost entirely to the company's business of supplying underwater instruments, torches, wrist compasses and wrist depth gauges to the Royal Italian Navy. He can take credit for the creation of the famous Radiomir and Luminor watches.
In 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 sees production of Radiomir watches begin 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.
In 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. In the early 40's 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.
In 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.
In 1956 on the request of the Egyptian Navy, Panerai creates a large Radiomir watch with an Angelus movement with 8-day power reserve and a rotating bezel with 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.
On the death of Giuseppe Panerai in 1972, 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.
In 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 saw Officine Panerai create 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.
In 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.
In 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.
It's 1998 and 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.
In 2000 Panerai created 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.
2004 sees the Radiomir collection 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.

In 2005 Panerai presented its first in-house movement: the calibre P.2002 This is a hand-wound mechanical movement of the latest technical conception with 8 days power reserve. It consists of 245 components (191 of them different) and the massive power reserve has been incorporated into a device of completely new design consisting of three spring barrels and a free balance spring oscillating at the frequency of 4 Hz, corresponding to 28,800 alternations/hour. The horizontal power reserve indicator is located at 6 o'clock. The P. 2002 calibre also features the GMT home time function with local time indicator over 12 hours and a.m. - p.m. indicator, hours, minutes, seconds and date. The system for setting the time uses the second reset device, which stops the balance and aligns the second hand automatically in the zero position when the crown is pulled out, providing an extremely accurate way of synchronising the watch with the reference time signal. The development of this movement took four years due to its technical complexity.
In 2006 Panerai presented at the SIHH (Salon International de la Haute Horlogerie) in Geneva the new 2006 Panerai and Ferrari collections. The manufacturing future of Panerai, inaugurated in 2005 with the Calibre P.2002 and the Radiomir 8 Days GMT is confirmed with the introduction of the Manifattura Collection, a family of watches which exclusively uses 100% made in Panerai movements. This collection respects the Panerai standards: robustness, high technical quality and a unique, distinctive aesthetic impact. Presented as well the new watch collection engineered for Ferrari. The appearance of the Ferrari watches is strongly influenced by the aesthetic lines of the cars, in a continuous cross-reference between the watch and the details of the engine and bodywork. There are two collections: Granturismo and Scuderia.
For more information about Panerai, visit their website: http://www.panerai.com (clicking this link will open a new window)