Panerai CEO Jean-Marc Pontroué, who joined the company in 2018, calls the watchmaker “a brand of communities”. The only Italian luxury watchmaker of global renown, Panerai boasts one of the industry’s most loyal followings. “Paneristi”, as its most ardent fans are known, await releases eagerly, discussing the brand on online forums, social media and at face-to-face gatherings.
Established in 1860 in Florence and an erstwhile supplier of the Royal Italian Navy, Panerai was a niche label until film star Sylvester Stallone discovered it while making Daylight in Rome in the mid 1990s. He introduced it to fellow A-listers Bruce Willis and Arnold Schwarzenegger back when such endorsements were organic and not mere pay-for-play moves.
In 1997, luxury group Richemont, the company behind houses such as Cartier and Van Cleef & Arpels, bought Panerai which, now based in Geneva, makes its watches in Switzerland, but keeps its connection to Italy with a design studio in Milan.STYLE Edit: Panerai hosts immersive ‘Submerse in Time’ exhibition in Hong Kong
As befits its Italian heritage, Panerai is a brand where design – rather than technical prowess or complex movements – takes centre stage. You can spot a Panerai right away thanks to details such as the cushion case, sandwich dial, safety-lock system on the crown and the bold shapes of its timepieces. The brand’s hero collections – Luminor and Radiomir – are instantly recognisable. A new model of the Radiomir unveiled at Watches and Wonders doesn’t even feature the brand’s name on the dial. “You don’t need it,” says Pontroué proudly while showing off the watch.He attributes Panerai’s success to its ability to cater to both avid watch collectors and customers who appreciate the chic and laid-back lifestyle its creations evoke. “When you enter a Panerai store we say buongiorno, no matter where you are – New York, Tokyo or Hong Kong,” he says. “Panerai is not an intimidating brand. We welcome people and want you to enjoy our time with us, whether you buy or don’t buy – but we prefer if you buy,” he laughs.
While the brand is seen as very masculine – Dwayne “The Rock” Johnson is also a fan – Pontroué says that in Asia 30 per cent of its customers are female (it’s about 15 per cent in the rest of the world). “I always compare Panerai to an iconic car like the Porsche 911, which is a masculine concept but women are driving it,” he says. “Porsche doesn’t do 911 for ladies; it’s the same for everyone. I believe the Italianity and masculinity that characterise us are interesting to women.” Case in point: Asian-American actress Hong Chau, who at the Oscars earlier this year paired a pink Prada gown with a Panerai Luminor Due Luna watch.Watches & Wonders Edit: Panerai introduces new Submersible QuarantaQuattros
Today he is sanguine about the future, saying Panerai will open a store every 10 days this year, from luxury hubs like Milan and Paris, to Honolulu and Boston in the US. “In many new countries you have a lot of newcomers to the luxury industry and people buy whatever they can afford first even if it’s just a perfume or an accessory, and then they buy watches and higher-end products.”
Upbeat, driven and passionate, Pontroué is also unfazed by seemingly contrary developments in tech: “I’m a big fan of smartwatches even though I don’t wear one. You know why?” he says. “Half of the people who wear smartwatches never wore a watch at all before so they realise that the wrist can be equipped with something, like a bracelet. It’s like a pair of denims versus a suit. You have jeans and suits and they are not mutually exclusive. I’ve never seen smartwatches as competition.”
It’s a new take on what many other watch companies have long seen as a threat but Pontroué is clearly not afraid of a challenge. His confidence makes perfect sense for a daring brand like Panerai and he’s clearly all set for the ride.
