Panerai: Italian Fine Design Panerai Watches Company was founded by Giovanni Panerai in 1860 in Florence, Italy. In 1890, his grandson Guido Panerai expanded his grandfather’s business by giving to it a new direction: high precision mechanisms. As a consequence, Panerai watches became the Royal Italian Navy official supplier expanding his production to manufacturing precision instruments as well.. When the 20th Century started, the factory was relocated in Piazza Giovanni (Florence) and it was then that Panerai watches delivery started and optical and mechanical instruments were made for the Defence Ministry. In 1993, when producing for the Marine was no longer cost-effective, the company ceased providing watches for the Navy. After two years, when Sylvester Stallone spotted and bought a Panerai Luminor in Rome to wear in the film Daylight, he then bought many of them to offer to his friends with his signature on the case back. This model was called Slytech and it gained rapid popularity worldwide. Panerai has four major lines of watches: Historic, Contemporary, Manifattura and Special Editions. When Panerai was called Ferrari’s official timekeeper, Panerai developed two collections of Panerai Ferrari: Granturismo and Scuderia.
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