Collecting Time
spotlight
units), both of which feature the Jose Rizal monument engraved on the back case. Further proving that Panerai has local horology enthusiasts under its spell – but bad news for those interested in getting their hands on a special edition – not one unit is left. “They’re sold out. They were all booked even before we made any formal announcement,” Gerondeau said with a proud smile. “We’ve done it for several boutiques around the world, and that’s usually the case since our production is always limited.” Some may not understand the rationale behind limiting production on a coveted product, but he explained that the exclusivity of Panerai is a huge part of the brand’s appeal. “Our community of collectors is what makes us successful. So we want to remain very exclusive because the fact that it’s difficult to get is what makes the value of Panerai go up. If you overdevelop and overproduce the brand, the collector will give up and stop giving value to your product.”
“If you overdevelop and overproduce the brand, the collector will give up”
Collecting Time
featuring quality and unique heritage, PANERAI IS A CATEGORY ALL ON ITS OWN, JEAN-SEBASTIEN GERONDEAU TELLS FATIMA A DE LA CERNA
T paying tribute The Panerai Luminor Marina special edition with the Jose Rizal monument engraved on the back case
hey are primarily men in their early 30s to their mid 40s, mostly entrepreneurs leading active lives and having strong purchasing power, who are on the lookout for a luxury sports watch that’s both different and exclusive. They are, according to Panerai Managing Director for Asia Pacific Jean-Sebastien Gerondeau, the brand’s loyal clientele and, naturally, its target market. “This kind of profile is present all over the world,” Gerondeau said during a recent visit to Manila. “They really are Panerai people. They meet and share about their watches, and there are many like them here in the Philippines.” To back up his statement, Gerondeau added that Philippine consumers have been very receptive to Panerai. “The feedback from the Philippine market has been positive.” And in recognition of its growing relationship with the timepiece lovers of this country, the luxury brand developed two special editions for its boutique in Makati: the Luminor Marina – 44 mm (50 units) and the Radiomir 10 Days gmt – 47 mm (10 philippine tatler
116
Besides rarity, Gerondeau also pointed to Panerai’s unique combination of Italian heritage, military standards and Swiss craftsmanship as being a big draw for watch aficionados. His mention of heritage and standards was, of course, unavoidable and expected for no information about Panerai is more interesting and well known than its origins in Florence in the late 19th century as official supplier of precision instrument tools to the Royal Italian Navy. This military association led to two of the most distinctive features of the Panerai watch: its big size and the luminosity of its dial. “The Italian Navy asked Panerai to create a special watch for their diver commandos, and their instructions were simple. It must be hard-wearing, water-resistant and readable underwater at night; and that’s why Panerai created a fluorescent material and a big watch.” In 1997 the Richemont Group bought Panerai and moved its production to Switzerland a few years later. This change in ownership and location, however, only signalled a change in the business aspect of things but did not affect what Gerondeau referred to as the dna of the brand. “We wanted to keep the spirit of the brand because its background communicates very strong values and even before, Panerai was already known among military watch collectors. So Panerai really has no competition, because it has its own identity. It’s the only luxury watch brand that combines Italian creativity and design with Swiss quality.” A combination that, based on the brand’s large number of loyal followers, works very well.
february 2013
units), both of which feature the Jose Rizal monument engraved on the back case. Further proving that Panerai has local horology enthusiasts under its spell – but bad news for those interested in getting their hands on a special edition – not one unit is left. “They’re sold out. They were all booked even before we made any formal announcement,” Gerondeau said with a proud smile. “We’ve done it for several boutiques around the world, and that’s usually the case since our production is always limited.” Some may not understand the rationale behind limiting production on a coveted product, but he explained that the exclusivity of Panerai is a huge part of the brand’s appeal. “Our community of collectors is what makes us successful. So we want to remain very exclusive because the fact that it’s difficult to get is what makes the value of Panerai go up. If you overdevelop and overproduce the brand, the collector will give up and stop giving value to your product.”
“If you overdevelop and overproduce the brand, the collector will give up”
Collecting Time
featuring quality and unique heritage, PANERAI IS A CATEGORY ALL ON ITS OWN, JEAN-SEBASTIEN GERONDEAU TELLS FATIMA A DE LA CERNA
T paying tribute The Panerai Luminor Marina special edition with the Jose Rizal monument engraved on the back case
hey are primarily men in their early 30s to their mid 40s, mostly entrepreneurs leading active lives and having strong purchasing power, who are on the lookout for a luxury sports watch that’s both different and exclusive. They are, according to Panerai Managing Director for Asia Pacific Jean-Sebastien Gerondeau, the brand’s loyal clientele and, naturally, its target market. “This kind of profile is present all over the world,” Gerondeau said during a recent visit to Manila. “They really are Panerai people. They meet and share about their watches, and there are many like them here in the Philippines.” To back up his statement, Gerondeau added that Philippine consumers have been very receptive to Panerai. “The feedback from the Philippine market has been positive.” And in recognition of its growing relationship with the timepiece lovers of this country, the luxury brand developed two special editions for its boutique in Makati: the Luminor Marina – 44 mm (50 units) and the Radiomir 10 Days gmt – 47 mm (10 philippine tatler
116
Besides rarity, Gerondeau also pointed to Panerai’s unique combination of Italian heritage, military standards and Swiss craftsmanship as being a big draw for watch aficionados. His mention of heritage and standards was, of course, unavoidable and expected for no information about Panerai is more interesting and well known than its origins in Florence in the late 19th century as official supplier of precision instrument tools to the Royal Italian Navy. This military association led to two of the most distinctive features of the Panerai watch: its big size and the luminosity of its dial. “The Italian Navy asked Panerai to create a special watch for their diver commandos, and their instructions were simple. It must be hard-wearing, water-resistant and readable underwater at night; and that’s why Panerai created a fluorescent material and a big watch.” In 1997 the Richemont Group bought Panerai and moved its production to Switzerland a few years later. This change in ownership and location, however, only signalled a change in the business aspect of things but did not affect what Gerondeau referred to as the dna of the brand. “We wanted to keep the spirit of the brand because its background communicates very strong values and even before, Panerai was already known among military watch collectors. So Panerai really has no competition, because it has its own identity. It’s the only luxury watch brand that combines Italian creativity and design with Swiss quality.” A combination that, based on the brand’s large number of loyal followers, works very well.
february 2013
