article contains content that is written like an advertisement . please help improve it by removing promotional content and inappropriate external links and by adding encyclopedic content written from a neutral point of view . november 2011 learn how and when to remove this template message officine panerai type private subsidiary of compagnie financi re richemont s.a. industry manufacturing founded 1860 1860 florence italy founder giovanni panerai headquarters milan italy area served worldwide key people angelo bonati ceo giorgio ferrazzi finance director products luxury watches parent compagnie financi re richemont s.a. website www.panerai.com footnotes references 1 2 officine panerai is a luxury swiss watch manufacturer and a wholly owned subsidiary of compagnie financi re richemont s.a. . officine panerai designs manufactures markets and sells watches through authorized dealers and company owned boutiques worldwide . 1 3 giovanni panerai 1825 1897 founded officine panerai in florence italy in 1860 . officine panerai maintains its headquarters in florence but manufactures watches in neuch tel switzerland using both movements manufactured in house and movements manufactured by eta s.a. 4 panerai watches designed and manufactured by rolex sa played a role in assisting the frogmen of the decima flottiglia mas in their operations during world war ii . notable products include the luminor and radiomir wristwatches . giovanni panerai in front of his watch store in florence in 1860 contents 1 history 2 products 2.1 ferrari branded panerai products 3 see also 4 notes 5 references 6 external links history edit this section needs expansion . you can help by adding to it . december 2010 giovanni panerai 1825 1897 founded officine panerai in florence italy in 1860 . 5 by 1900 under the leadership of the founder s grandson guido panerai 1873 1934 officine panerai had become an official supplier to the regia marina the royal italian navy supplying watches and precision instruments . 6 panerai watches of this time consisted of cases designed and manufactured by rolex sa and movements made by swiss manufacturer cort bert . the florence based watchmaker produced wrist worn diving instruments and between 1938 and 1970 delivered around 1600 watches 1000 3646 24 6152 36 6154 500 6152 1 60 gpf 2 56 most of them to the italian marina militare . 7 two models today identified as the small egiziano and the big egiziano were also produced for the egyptian navy . 8 by 1970 the company ceased to provide watches to the marina militare as they were neither cost effective nor met the naval specifications . in 1993 it then moved to launch its products to the civilian market . the actor sylvester stallone spotted and bought a panerai luminor at a jeweller s shop in rome in 1995 to wear during shooting of the film daylight . 7 stallone ordered a small batch of such watches with his signature on the case back called slytech offering some as gifts to friends . this hugely influenced the resurrection of the brand . the brand s rising popularity caught the attention of richemont which acquired officine panerai in 1997 . following the acquisition richemont rebranded panerai as a luxury watch brand and increased prices accordingly . the core of the watches remain the same . at auction and in the collectors market some of these older models particularly those produced in the 1940s and 50s have sold for high prices . 9 products edit panerai has four major lines of watches historic contemporary manifattura and special editions . most watches are produced in a limited run normally of 500 1000 2000 or 4000 units and carry an issue number on the case back . panerai issues special editions every year . in 2006 it issued the 1936 california dial radiomir special edition a reissue of the first panerai model ever presented to the italian marina militare . this model was limited to a run of 1936 units . as of september 2008 update the price variation within the contemporary collection varies from 6 000 usd to 25 500 usd for the solid gold marina . panerai makes many watches as either limited or special editions intentionally producing fewer watches than the market demands in order to maintain an image of exclusivity which allows it to command a high price . retailers may only receive a few limited edition pieces each per year and there are long waiting lists for popular models . ferrari branded panerai products edit sylvester stallone pictured in 2009 wearing panerai s largest model the limited edition 60mm panerai egiziano . when ferrari s contract with rival watchmaker girard perregaux expired in 2005 ferrari and panerai entered into a five year agreement to design manufacture and distribute panerai watches displaying the ferrari trademark . the collection was branded ferrari engineered by panerai and consisted of two product lines the sport elegant granturismo and the aggressively sporty scuderia . the collection consisted of 11 models priced between us 5 000 and us 30 000 . 10 despite unique cases that were not shared with other panerai watches and unique watch faces displaying the ferrari brand the ferrari engineered by panerai watches did not sell well except for a brief time after their initial release and were usually available for discounted prices . panerai and ferrari did not renew the agreement when it expired in 2010 . 11 12 see also edit italy portal companies portal list of italian companies notes edit a b richemont 2010 p. 13 . richemont 2011 p. 106 . richemont 2010 p. 106 . officine panerai 2010 . panerai 2011 . panerai 2011a . a b prince 2003 . history of the panerai luminor christie s 2007 . strandberg 2006 . adams 2010 . pons 2010 . references edit adams ariel 2010 03 04 . panerai and ferrari officially break up . luxist.com . aol inc. archived from the original on 2011 01 24 . retrieved 2011 01 24 . almost from the beginning the watches could not sell . consumers disapproved of them and stores couldn t move them . pons gr gory 2010 03 03 . panerai ferrari divorce l italienne panerai ferrari divorce italian style . business montres & joaillerie la lettre international des march s horlogers in french . geneva switzerland gr gory pons . archived from the original on 2011 01 24 . retrieved 2011 01 24 . ainsi donc panerai et ferrari ne font plus curie commune ... prince david 2003 12 01 . monster watches how a movie muscleman spawned a trend that bulked up the wristwatch . cigaraficionado.com . cigar aficionado online . archived from the original on 2010 12 19 . retrieved 2010 12 19 . stallone sparked the trend back in 1995 when he was window shopping in rome during the shooting of the film daylight . strandberg keith w. 2006 03 27 . panerai and ferrari . europastar.com . europa star . archived from the original on 2010 12 19 . retrieved 2010 12 19 . panerai unveiled its newest product the ferrari engineered by panerai watch collection ... annual report and accounts 2010 . compagnie financi re richemont s.a. 2010 . isbn 978 2 9700709 0 0 . archived from the original pdf on 2010 12 19 . retrieved 2010 12 19 . officine panerai operates through a network of authorized dealers as well as its own boutiques . in house movements . panerai.com . officine panerai marketing e communicazioni srl . 2010 . archived from the original on 2010 12 19 . retrieved 2010 12 19 . lot 321 sale 1348 . christies.com . christie s international plc. 2007 11 12 . archived from the original on 2010 12 19 . retrieved 2010 12 19 . price realized chf97 000 86 490 timeline 1860 . panerai.com . officine panerai marketing e communicazioni srl . 2011 . archived from the original on 2011 01 24 . retrieved 2011 01 24 . giovanni panerai 1825 1897 founder of the family business opens the first watchmaker s shop in florence on the ponte alle grazie ... timeline 1890 1900 . panerai.com . officine panerai marketing e communicazioni srl . 2011 . archived from the original on 2011 01 24 . retrieved 2011 01 24 . 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 . munchow joshua 2014 03 24 . panerai radiomir 1940 chronograph the day everything changed . quillandpad.com . quill & pad . archived from the original on 2014 03 16 . retrieved 2014 03 16 . it must be taken into consideration however that panerai didn t build watches for the public ; instead it only produced tool watches for the italian navy which means that panerai watches were always first and foremost tools to be used . . pasetto loris 2013 . panerai una storia italiana . www.paneraibook.com . loris pasetto & luciano cipullo . rolex s.a. produced 24 of the 6152 reference number and 36 of the 6154 s. official sources tell us that the italian navy bought 30 patented underwater watches in 1954 so it is plausible to presume that this lot was made up of a mix of 6152 s and 6154 s which had been acquired for testing purposes . external links edit wikimedia commons has media related to panerai . official website history of the panerai luminor . panerai central all things officine panerai panerai 2016 models price list v t e brands owned by compagnie financi re richemont s.a. full ownership a. lange & s hne azzedine ala a baume & mercier cartier chlo dunhill giampiero bodino iwc schaffhausen jaeger lecoultre lancel manufacture roger dubuis montblanc officine panerai peter millar piaget purdey shanghai tang vacheron constantin van cleef & arpels joint ventures ralph lauren watch & jewelry company sarl 50 % other investments yoox net a porter group authority control worldcat identities viaf 159707764 lccn nb2009021346 gnd 7641510 7 retrieved from https en.wikipedia.org w index.php title panerai & oldid 741404062 categories companies established in 18601860 establishments in italyitalian brandsluxury brandsmilitary equipment of italyrichemont brandswatch 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