Wednesday Hump Day Fun Fact # 57 !!!
Posted by Daubin Barshtak on September 10, 2014.
(Panerai Luminor Submersible Slytech, Model # PAM00225)
Panerai the short history of the wonderful brand!!!
Giovanni Panerai (1825–1897) founded Officine Panerai in Florence, Italy in 1860. 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. Panerai watches of this time consisted of cases designed and manufactured by Panerai and movement made by Swiss manufacturers including Rolex SA.
In 1993, Panerai moved to launch its products to the civilian market. Ostensibly, actor Sylvester Stallone spotted and bought a Panerai Luminor in a jewelery store in Rome in 1995 to wear during shooting of the film Daylight. Stallone ordered a small batch of such watches with his signature on the case back, called Slytech. This was said to have 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, Richmond re-branded 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.