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In March 1997, the then Vendome Group, now Richemont, acquired the branch of Officine Panerai concerned with Watches, Compasses, Depth Gauges and Precision
Optical Instruments.
Also acquired along with the branch was the brand Officine Panerai, while the previous organization was called Panerai Sistemi. In the 1930s Officine Panerai was official supplier to the Italian Navy of sophisticated, high precision devices. Amongst the multitude of ideas and instruments realized, a special range of watches was created specifically designed for use in extreme and highly risky conditions.

Since 1993 these special and secret military watches have been made available to the general public in limited editions under the original brands Luminor and Mare Nostrum.

The acquisition of Panerai from the Vendome Group has underlined the turning-point of the Brand consecrating Panerai, through an international launch, as Brand of sport watchmaking with high quality.

A long voyage then, and one full of ideas, reflecting the values that Panerai has held since its origins. Values of ideas, values of men and women, values of a city, Florence, international home and point of reference of craftsmanship, creativity and a taste for beautiful things.

At the beginning an idea emerged – to put together a watch with an unusual and yet authentic shape, with an extraordinary testimonial, Sylvester Stallone - but no brand existed.


- a research and development company called Officine Panerai Marketing & Comunicazione, with the aim of promoting the original, all-Italian project, thus
giving the brand a long-term international opening that reflects Panerai's original identity and authenticity;

- a distribution network that is highly selective and professional: 450 points of sale

- the opening of five boutiques situated in the most important international venues: Florence, Portofino, Hong Kong, Los Angeles, Shanghai;

- the Manifattura in Neuchatel, which today boasts qualified craftsman and Specialist watchmakers capable of operating at the highest levels. The Manifattura has the most highly advanced and technological systems to ensure the utmost quality of the manufacturing process

- a technical research centre for materials and movements which uses the most advanced technologies

- the creation and production of a range of fine watch movements which already boasts more than 10 exclusive patents. This range of movements means the presentation of at least one new and innovative calibre each year;

- recruitment of a specialised workforce for the new needs.

Today Officine Panerai is able to announce to the market its four Panerai calibres:

- P.2002 8 Days GMT: manual winding.
- P.2003 10 Days GMT: automatic mechanical.
- P.2004 8 Days GMT Chrono Monopulsante: manual winding.
- P.2005 6 Days GMT Tourbillon: manual winding.

These movements are destined to power Panerai's creations in the future, watches with values that will be increasingly appreciated among collectors and among those who make daily use of their watch an instrument of quality that lasts over time.