Thursday, March 4, 2010
Panerai And Ferrari Officially Break Up
Several years ago Panerai was given the contract to make Ferrari branded timepieces - luxury ones that is. Panerai was searingly hot in the mid 2000's, with popularity and demand at incredibly high levels. It seemed to make executive sense to have them design and produce watches with the famous Italian stallion super car moniker on them. Sources indicate that the agreement wasn't really something Panerai even wanted to deal with in the first place, but was pressured to engage in by parent company the Richemont Group. Nevertheless, in 2005 the famous Italian watch brand took on the Italian car brand under its horological wing (under a 5 year agreement).
In 2005, the two companies began their five year relationship. With the contract due to expire now, neither side has any desire to renew. It is possible that the relationship was botched from the beginning. Ferrari itself seemed to have absolutely no influence on the watches, and Panerai fans just saw the pieces are more expensive, less attractive, and chintzy looking Panerai timepieces.
Read on more here : luxury watch review
All pics & info via www.luxist.com