Panerai was founded in 1860 in Florence, where Giovanni Panerai, a businessman, craftsman and innovator, opened the city's first watchmaker's shop in 1860. For years, it supplied the Italian Navy with high-precision watches for the special diving units. \nThe fundamental values of Panerai are based on history and the sea world, authenticity, exclusivity and rarity, product identity and heritage.\n\nPanerai is a high-end status sports brand that operates in a niche segment, fully exploiting its values of belonging that allow Panerai owners to feel â?? part of an exclusive Club.â??\n\nOfficine Panerai is the Italian manufacturer which develops and produces its watches and movements in Neuchâtel, combining Italian design and history with Swiss watch-making know-how. \nPanerai watches are sold all over the world through an exclusive authorized retailer network and in the company's boutiques.