Between 1993 and 1997, PANERAI produced 1828 watches. (See PANERAI OFFICINE production /Pre-Vendôme Period.)
PANERAI was bought up by the VENDÔME LUXURY GROUP in 1997.
Backed by its exclusive image, Vendôme launched into production of limited editions that were snapped up by collectors.
The LUMINOR Base and LUMINOR Marina models were introduced at the Geneva International Salon of Master Watch making in 1998, to great public acclaim.
In 1999, the group went in search of new customers, especially those who though they dreamt of owning a PANERAI, were not keen on its outsize 44mm. diameter, and the result was the PANERAI OFFICINE LUMINOR 40mm.
Once again, whatever purists had to say, the model was a huge success, and sales of LUMINOR 40 mm. in all models now account for around 50% of PANERAI OFFICINE sales in this range of products.
In 2002, the firm inaugurated the PANERAI MANUFACTURE, at Neuchâtel, in Switzerland.
Let’s bet that the industrial era into which the RICHEMONT group has introduced the PANERAI OFFICINE won’t kill off the legendary and fabulous watch of the Italian commandos.