Guarding a Military Secret: Panerai CEO Emmanuel Perrin on Analog Heritage
-
Click here to listen to this article - Share via
In a world increasingly dominated by virtual realities and artificial intelligence and ubiquitous smart wearable tech, a mechanical-action watch stands as a strong – if not bold – counterpoint. For Panerai, a brand whose identity was forged in the high-stakes, underwater world of twentieth-century military operations, this digital acceleration not only highlights the value of the physical craft but informs how the brand navigates a new generation of enthusiasts through marketing.
For Panerai’s CEO, Emanuel Perrin, the future hinges on how a company that once functioned as an Italian military secret finds a modern path – and much of this is by diving deeply into its past.
Analog Anchors and Stewardship
For Perrin, the decision to pepper modern life with the analog isn’t just a marketing strategy; it is a neurological and philosophical necessity. Pointing to his well-worn notebooks, he notes that delegating human thought to machines has a cost. “The first studies are showing that if you delegate all of your work to AI, the brain is going into atrophy mode at an incredible pace,” he said.
In contrast, running a traditional luxury watch brand offers a grounding reality. “It’s refreshing. It’s reassuring. It remains an anchor and a foundation of what humans can do around creativity, whether you talk about design, about functions, about creative engineering, and a world that remains analog,” said Perrin.
“We still keep an expression of our humanity through our inspiration, our creation and the ability of the work of our hands, our artisanship, to translate that vision of that inspiration.”
Perrin views his role not as a temporary corporate ruler, but instead as custodian of a profound horological lineage. “The mission of the CEO and the management team is to make sure that we transmit the Panerai Maison in better shape or in a stronger position to the next generation of managers than when we inherited it. We are still fulfilling the vision and the work of Mr. Panerai and following his vision.”
A Closely Guarded Secret
To understand Panerai’s future, one must realize just how recently the brand entered the public consciousness. For the vast majority of its history, a Panerai watch was solely a classified tool.
“We had ‘clients’ at the end of the chain, if you will, but it was the Royal Italian Navy ... it was a military secret,” said Perrin. “We’ve only been open to the civilian world since September 1993.”
The elite, underwater clientele that shaped the brand’s history also dictated design, from the mechanism to the shapes and materials of the watch. At Panerai, aesthetics have never been arbitrary.
“If you take a Panerai watch, the design is only the consequences of the need for a function,” he said.
History as a Tool
Because of the brand’s classified past, much of its history remains shrouded or buried in state archives. However, a recent real estate acquisition has allowed the brand to piece together its own timeline. Three years ago, Panerai acquired the Panerai Villino in Florence – the original buildings that housed both the Panerai family residence and the Laboratorio (the brand’s historic R&D workshop). It took a research team two and a half years to catalog the documents found inside.
“In those documents, there was a letter from Mr. Panerai to the admiral of the Navy, dated 4th of July, 1960... to celebrate the 50 years of collaboration with the Navy,” said Perrin. “That’s when we knew… we discovered that this partnership started in 1910 by providing instruments before watches. And there is still a lot to discover.”
The recreation of the dive tank at Watches and Wonders exhibition. (Courtesy of Panerai)
Authenticity in Action
To honor this heritage of elite performance, Panerai subjects its modern timepieces to testing regimens that far exceed industry standards. At the Watches and Wonders exhibition in Geneva, the brand even built a 13-ton, 1-to-1 scale replica of the Vasca Panerai – a historic diving tank originally installed at the La Spezia Naval Base in 1966 to test experimental materials and still used today. The exhibit, which served as much living museum as modern experiential marketing, harkened to the rigid standards to which the watches are certified.
“We test the water resistance of our watches 25% below what we certify,” said Perrin. “So the Luminor Marina is certified at 500 meters water resistance, we test at 625, for example. All our watches go underwater for testing. Every single one.”
Innovation, Heritage and Experiences
Looking ahead, Panerai’s roadmap focuses strictly on four core ancestral pillars: water and shock resistance, power reserve, luminosity and innovative materials.
“What stays the same is the approach that we have. What changes is we need to blend innovation with our heritage.”
This includes competitive modern features which appeal to newer watch customers, such as the 31-Day Power Reserve. Harkening back to the commandos’ demands for long power reserves to reduce wear on water-resistance gaskets, Panerai recently released a movement boasting a massive one-month power source. Crucially, keeping with the brand’s strict focus on functionality, it can be wound entirely from the crown without any special tools.
In addition, Panerai has responded to enthusiast demands by releasing the Submersible Navy SEALs Afniotech Experience PAM01089 – a first for the watchmaking industry at 95% Hafnium. Panerai has embraced the heavy, dense metal – highly effective for absorbing neutrons and typically reserved for nuclear submarines and power plants – to offer a unique, instantly collectible and rugged watch that also comes equipped with a story.
That is because Panerai’s business model is centered around immersive client experiences. Customers who purchase exclusive editions, like the Hafnium Navy SEALs model, don’t just get a box; they get a physical challenge.
“You buy the watch, you come on a three-day bootcamp with us and former Navy SEALs in the middle of the Everglades. There’s no hotel. You carry where you’re going to sleep, and you get three days of Navy Seals-like training,” said Perrin.
Three months before, we give you a program so that you can at least have a chance to survive,” he joked.
For those seeking a less intense immersion, September will bring the Viaggio Nel Tempo Experience in Tuscany, starting at an Immersion exhibition in Florence to celebrate the centennial of the historic Piazza del Duomo boutique, originally established in 1926, and retracing the legendary sites that shaped Panerai’s origin.
Furthermore, the Villino Panerai in Florence is undergoing a massive transformation. Scheduled to open in 2028, the historic site will feature a permanent museum, temporary exhibition spaces, an experiential boutique, a restoration and after-sales service center, an auditorium, a lounge and an entire floor dedicated to Tuscan hospitality and dining.
Devoted Fans
Panerai recognizes that its bold design language wasn’t intended for the mass market.
“Panerai is not a watch for everybody. We make big, tough watches for tough people,” said Perrin.
“We don’t make dress watches. We don’t make diamond watches.”
It is exactly this uncompromising stance that has cultivated the “Paneristi”—an organic, fiercely protective, independent global community of collectors that has thrived for over 25 years – representing a built-in social gathering group for anyone who chooses to purchase a Panerai.
Ultimately, says Perrin, the Panerai brand boils down to a word: heritage.
“If I take the example of Panerai … you have this transition, a transmission of the heritage of the brand for the future generation. We all come from somewhere and I think it’s key to keep that heritage.”
