Panerai is a brand with a completely unique style and a completely unique story. It starts in 1860, when Giovanni Panerai sets up shop in Florence, Italy. He simultaneously runs a watchmaking school, repair shop and a store, selling several Swiss brands.
Fast forward to the 1930’s: The business buys square, water resistant Rolex Oyster watches and fits them with new dials and some modifications. A black top layer with cut-out indices is placed on top of a radium layer, to make a sandwich dial with strong luminescence for use under water. These Radiomir watches are supplied to the frogmen of the Italian navy from 1938 until 1956. They are heavily used during WWII.
In 1949, a prototype new luminescent paint was introduced. What we now know as Tritium was labeled Luminor by the Italians. In the fifties, a new case shape with an inventive crown was developed, which would later be considered the forefather of what we now know as the Luminor case.
So while the Radiomir and Luminor names now refer to case shapes, they were actually labels for two types of luminescent paints.
From the late fifties onwards, Panerai’s watchmaking efforts go into decline. It is not until 1993 when the company recognizes there is value in its military heritage and it introduces three watches based on the original designs. Due to a lack of distributor network and marketing muscle, the watches are anything but successful.
That is until Sylvester Stallone spots them during the shooting of “Daylight” in Rome. He buys a Luninor and wears it on-screen. He then buys a couple of batches for friends, branded Slytech. Celebrities such as Arnold Schwarzenegger were publicly spotted with Panerais and by 1997, the brand took off. The company is acquired by Vendome group (now Richemont) and serious marketing effort guarantees sales success.
The 1930’s-1950’s Panerai watches have become extremely collectible and have appreciated into the stratosphere. Collectors are now particularly keen on the 1993-1997 era, known as pre-Vendome. With pre-Vendome prices reaching serious levels, the post-1997 Panerai are now a more feasible alternative for most aficionados.
Panerai as a brand for civilian watches is relatively young. The two most iconic designs, Radiomir and Luminor, are steeped in history and legend though. They are big, rugged watches with a truly unique aesthetic. Italian design at its finest.
