panerai In 1860, in Florence/Italy, Giovanni Panerai ( 1825-1897) set up a small workshop for mechanical precision instruments on the "Ponte alle Grazie". His successor's son Guido Panerai (1873-1934) continued to develop high precision instruments and by 1870, the company had become an official supplier to the Royal Italian Navy. Named "Orologeria Svizzera" in the early 1900's, the company was retailing Rolex and Patek Philippe watches while at the same time delivering optical and mechanicalrecision instruments to the Defense Ministry. Increasing the business and extending the line of military products, the company now carried on as "Officine Panerai". Special products included luminous firing and aiming devices. Maria and Giuseppe continued their father's business of selling watches, but at the same time fortified their relations as suppliers to the Italian Navy.In 1935 the first wrist-worn depth gauges and compasses were developed, in 1936, a single "Radiomir" watch prototype was produced. 1943 saw the birth of the "Mare Nostrum" and for the first time the safety lever and bridge device was fitted to the "Radiomir". It was a revolutionary and distinctive design, not only pressing the crown tightly against the case, but also allowing winding the watch in combat situations under water. While a patent was granted in 1949 for the "Luminor" luminous materia, the patent for the "Tight Seal Device" was filed in Italy on Nov. 26, 1956. (Ser. No. 624,234) and later in other countries."Officine Panerai" continued to be a specialized manufacturer of military instruments.In 1997 the "Richemont" luxury group acquired the company.