SIHH 2002 Report
When travelling to Geneva, I really did not know what to expect. I suspect that the folks from Panerai did not know what to expect either. Surely the guy who runs such an out-of-control web site must be some kind of crazy?
The SIHH itself
My overall impression of the whole show was that a huge amount of money is spent on making the whole operation run smoothly, and on making the buyers comfortable. Wherever you went there was a constant supply of free food and drink, minibuses to convey you around the place, and on the periphery in the evening there seemed to be a much more corporate entertainment going on, with meals, coctail parties, whatever, laid on by the various manufacturers and interested groups.
Security was tight to say the least. Proof of identity was required along with an original invitation, that was correlated against a list of invitees. Everybody entering the salon was subject to a thorough security inspection.
Officine Panerai
As for the Panerai group themselves, I have already said in the index page that it is easy to imagine a monolithic machine producing watches, whereas the reality is small group of people. The team's enthusiasm for their product is infectious to say the least, and they could never do enough for anybody interested in their brand.
Brand Philosophy, and future directions
The Panerai team is in a very difficult position. In a way, theirs is a nice problem to have, but still very awkward. It is what is termed in the computing industry "a success disaster". Their watches are so popular that their is no way they can cope with demand. Additionally, second to the characteristic styling, the watches are popular because they are produced in such small numbers. How do you meet demand, but still keep the cachet of exclusivity?
The simple answer would appear to be that you don't try to meet demand. Panerai are simply having to say "no". This is obviously very difficult when a good customer (either a dealer, or an end consumer) asks for a watch, how do you tell him he can't have it? He's not going to be very happy, and this could sour any future relationship, but the message that I heard again and again was "we're in this for the long run". Sure, Panerai could cash in on fashion for a couple of years, but after that the brand would be dead. The path they are following is to grow the brand very slowly, staying true to brand philosophy, their customers, and to the history of the name. In the meantime, if this means having to say "no" to some people, then so be it.
Panerai's investment in a manufacturing facility in Neuchatel is a testament to the long-range vision that they have, and some of the very long term plans I heard mentioned were very interesting indeed.
Panerai are grounded in research and development for watches, not fashion items. One very interesting quote I heard was that if a potential customer is trying to decide between a Panerai and a Corum Bubble [because both are fashionable], then Panerai would much rather the customer bought the Corum. They would much prefer a customer who buys a Panerai because it is a Panerai, not because it is a fashionable bauble.
Jewellery Pieces
I feel I must write a few notes about some of the diamond set pieces that were displayed on the stand. All members of the Panerai team were emphatic that Panerai is a watch company, not a jeweller. Diamond set pieces are only made on demand, Panerai is not looking to create a market for these watches, but the market does exist, and is clamouring loudly for diamond set pieces.
The most interesting of all diamond set watches the pieces I saw had a 38.5mm Radiomir case. This is the smallest Panerai ever, and definitely intended for a lady. I don't know what this means for future directions.
| Small Radiomir |
Interesting Notes
I was given some time to talk to Angelo Bonati, the managing director of Panerai, and took the opportunity to ask a few specific questions that come up again and again on the public forum.
To start with Mr Bonati explained some of the philosophy of Officine Panerai, and had some questions about Paneristi itself. Why had I started the site? In a way Paneristi is a reflection of how popular Panerai is, but it cannot be easy to have your every move examined in such detail. Mr Bonati also commented on some of the deeply unhelpful remarks that are posted on the forum, particularly when people forget that the brand is not a machine, but a team of real people, who in my experience are totally decidated to their customers.
What did I ask Panerai?
Mare Nostrum
I asked whether there were any plans to relaunch the Mare Nostrum.
This was "a good question"! I get the general impression that the Mare Nostrum case hasn't been forgotten completely, but in order to make a new production economically viable a considerable number of watches would have to be produced. Meanwhile, Panerai is the Luminor case, the Mare Nostrum is really only of interest to collectors because it is no longer produced, so trading off the large production needed against the small quantity desired would be a very difficult job.
PVD
I asked whether there were any plans to reintroduce PVD cases, and why they were discontinued in the first place.
PVD case were discontinued because they are simply not practical. If a case is gouged, it cannot be refinished, it has to be replaced completely. If the case is replaced then a customer goes straight back out and gouges it again. Using titanium is a much better option since a Ti case can usually be refinished, no matter the abuse to which an owner subjects it.
I did hear some interesting possibilities about future case materials, but nothing concrete so it would be improper to speculate.
Last Year's Special Editions
I asked what had happened to some of last year's "missing in action" Radiomir based special editions.
A problem had been discovered with the Foudroyante movement, and it was still being resolved. The watch will still ship, some time in the future. Mr Bonati was emphatic about the company's commitment to quality. A car is used for maybe two hours a day, and you service it every six months. A watch, again full of moving parts, is worn 24 hours a day, and yet some customers expect never to service or repair, or at least much less frequently than a car.
What did Panerai ask me?
Why did I start Paneristi?
My basic answer to this question, that was asked again and again, was "errrrr", and then I kind of shuffled about and looked at my shoes. The site started as a hobby, because I liked Panerai, and the subject was small enough that it was a real possibility to build a comprehensive reference. But Paneristi rapidly outgrew any expectations that I might have had, partly riding on the popularity of Panerai itself.
What jobs do people do?
Obviously as a bit of market research, Panerai people were interested in what I did for a living, and what some of the regular participants do. Is it just my imagination, or are there more people in the graphic design field than anything else?
What didn't I like about the new line?
It was taken for granted that everybody likes the 1950, but Panerai were also very interested to hear what I didn't like in the new range. What did I think was the "least Panerai"? I think that I surprised a few people when I said that the yellow gold rattrapante didn't really float my boat. I'm not a fan of yellow metals in the first place, and somehow the whole watch left me cold, particularly with all the complications pressed onto the relatively small dial.
Again there were some raised eyebrows when I said that the contrasting subdial on the new steel Radiomir would not be popular. I believe I read that one correctly; people still want as plain a Radiomir as possible, preferably like the PAM 21.
What I didn't guess would be the negative reaction to the Black Seal. I thought it might divide opinion, but maybe 50/50, not 90/10!
| A vintage Panerai, with (on the right) a PAM 21 |
Who is the "mole"? :-)
I was frequently asked who my contact within Panerai was. It looks like the amount and quality of information on the site suggests that I'm being fed data from within the company. Unfortunately (!) this isn't true. Most of the information on the site has come from Panerai catalogues, and from "stringers" around the world who are kind enough to e-mail me any information they get.
What do Paneristi think of Panerai straps?
Panerai wanted to know what enthusiasts thought of the straps provided with Panerai watches. To be honest, I said that that majority of enthusiasts, myself included, thought that the straps were of the highest quality. There was a brief discussion about the water resistance (or lack thereof) of some of the straps, and the basic message was that one should always wash and dry any strap after submersion. My personal vote would be never to get the straps wet in the first place. If you want to submerge your watch, use one of the specially provided rubber or nylon diving straps.
Closing Tidbits
The Panerai Museum is still growing. The company is trying to reacquire some of the vintage pieces that have worked their way out across the world. They recently bought a Kampfschwimmer model from WWII.
Mike Horn who is currently "testing" the Arktos Amagnetic, has had to temporarily stop his expedition due to frozen fingers (at least that was what I understood). He is going to Lausanne for treatment, and once he is better the expedition will continue.
Panerai has in the region of 85-90 employees worldwide.
Conclusion
Well what can I say? I had a great, if exhausting time. I don't know how any of the exhibitors can stand the pace of SIHH for a whole week, I was worn out after a day, and I wasn't actually doing any work.
I think the new Panerai range is very exciting, and the improvements to current models are very thoughtful. The future looks bright indeed for Panerai.
More importantly it was great to be able to put faces to names, and to meet the people behind the brand. Without exception every member of the team was dedicated and enthusiastic, and their enthusiasm rubs off on anybody visiting the Panerai stand.
I am most grateful to everybody involved for organising a seamless trip, for making me so welcome, for putting up with what must have seemed to be some pretty odd questions, and for recognising the passion of the Paneristi audience in the first place. Thank you!