| Officine Panerai |
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Piazza S. Giovanni, 16R Palazzo Arcivescovile, Florence, Italy Founded in Florence in 1860, Officine Panerai has an established heritage of developing precision instruments, including its famous underwater watches for the Italian Navy. Since its acquisition by Richemont in 1997, Panerai has rapidly established itself as a reference brand in the market for sports watches. Its history, reputation for technical innovation, authenticity and reliability were key factors in defining Panerai's identity: a brand of value, reserved for connoisseurs and lovers of high quality watchmaking. The opening of the Shanghai boutique this year signalled Panerai's entry into the Chinese market, which will present considerable opportunity for future growth. Following the success enjoyed in Europe in recent years, Panerai is now focused on the United States, Asia and Japan, where it has made strong progress and sees great potential. The product launch strategy for the last year was to extend the collection, while maintaining coherence with the brand and its origins, in particular the essential technical quality that typifies Panerai. New products have involved the Radiomir and Luminor ranges. The Radiomir line has been given a higher profile across all markets in the form of the Radiomir 8 Days and the Radiomir Black Seal. Both models have enjoyed considerable sales success. In the Luminor family, publicity has surrounded the use of the Arktos prototype watch by extreme sportsman Mike Horn in his exploration of the Arctic Circle. Continuing in its tradition of water resistance, Panerai has also launched two important new versions of the Luminor: the Luminor Chrono 1000m and Luminor Submersible 2500m.
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