Initially based in Italy and identified for supplying watches to the Italian army, the Panerai model was revived within the early Nineties. It rose to prominence on the wrists of Hollywood motion stars Sylvester Stallone and Arnold Schwarzenegger. In 1997, Panerai was acquired by Richemont, then often known as Vendôme Group.
Panerai produced about 55,000 watches and posted income of about 493 million Swiss francs in 2024, down from 520 million Swiss francs the 12 months earlier than, in accordance with estimates by Morgan Stanley and LuxeConsult.
