Comparing Panerai with its luxury peers in terms of a brand’s heritage makes no sense. You won’t want to see it listed among the longest-established watch brands; still, it proves how awareness and attractiveness don’t often measure in centuries and mechanical complications, but in DNA and credibility.
Officine Panerai, or Panerai, has such a strong foothold that it deserves its place among the most wanted wristwatches, whether you’re wearing a military uniform or not, thanks to the unique historical relationship with the Italian Navy.
Panerai’s Relaunch Project
The brand was once an official supplier of several military-engineered devices, including watches exclusively designed for the Italian combat divers, long before a diving watch became so popular to hit the stores.
The Vendôme Group, then turned into Richemont, acquired Panerai in the early 1990s, launching the first-ever commercial product in 1993.
Panerai faced an unexpected commercial success, with sales initially booming, but then slowing down as the brand began to extend its product portfolio and slightly abandon its roots.
The brand recently made a U-turn by re-establishing its commercial partnership with the Italian Navy, intensifying its relationship with one of the most loyal and strong communities, the Paneristi.
Depths of Time
What Panerai organised in Florence at its first-ever brand boutique, once known as the legendary “Orologeria Svizzera,” is a journey through time and a display of Italian engineering devoted to the military.
Among the guest speakers were engineers like Mario Paci, who helped grow the brand under Dino Zei’s leadership.
As an exclusive supplier of military tools and watches for the Italian Navy, Panerai’s Depths of Time exhibition helped fully explore the brand’s history and its connection with the “Marina Militare,” a relationship that no other brand can compete against.
The Luminor Marina Militare PAM 05218
On September 10, 1993, Officine Panerai unveiled the Luminor Marina Militare reference 5218-202/A model aboard the Durand de la Penne defence vessel.
It is no coincidence that the new reference PAM 05218 broke cover on September 10, 2025.
The much sought-after original timepiece, featuring tritium-filled indexes and hands, is among the brand’s most wanted ones, and the celebration model proves CEO Emmanuel Perrin’s strategy to bring Panerai back to where it belongs.
It is not a reissue by watchmaking standards; I mean, the original model didn’t even belong to the historic archive. Still, it makes sense when applied to such a young brand.
The new Luminor Marina Militare PAM 05218 is therefore a contemporary take on a modern watch, offering the same 44mm-sized case.
Nonetheless, it incorporates state-of-the-art engineering and some clever upgrades: a DLC treatment has replaced PVD, and Super-LumiNova has replaced tritium. Notably, indexes and Arabic numerals are slightly recessed, unlike those seen on the most contemporary Luminor and Radiomir Logo models.
The outcome is a sandwich-like dial design to provide more visual depth than ever before. Size and font all mimic the 1993 model, and the blackened-out case deserves an additional note.
I’m not much into black watches; yet, the matte DLC treatment softens and possibly slims down the squared Luminor 44 case, looking more refined than its polished steel counterparts.
Standing out on the matte caseback is an extensive “Officine Panerai Firenze” inscription, paying homage to the 1993 reference.
The Luminor Marina Militare reference PAM 05218 is a boutique model, meaning that Panerai confirmed it will come in limited quantities upon request.
That’s proof, along with the Depths of Time exhibition, that the brand’s vision is to replicate the success of its early commercial days by building on a Luminor 44, often spotted in the show business.
The Panerai Luminor Marina Militare PAM 05218 is powered by the hand-wound P6000 calibre with a three-day power reserve (and no small seconds counter, anymore), is water resistant to 300 meters, as every Luminor should be, and retails for 8,500 euros.
Panerai is back to its roots, and the new Marina Militare hopefully is the forerunner of a new chapter.
(Photo credit: Panerai)
Gaetano C @Horbiter®
In this article:
Case
It encases the mechanical movement and is crafted in one or more parts. It can also be a single piece, as with some professional diving watches, or made of unconventional…
Water Resistant
A watch is water resistant when it can withstand splashes of water. It indicates the depth to which a watch can be worn underwater.
Power Reserve
A mechanical watch feature displays, on the dial or the case back, the remaining power in a watch movement, showing the length of time until the timepiece must be rewound.
Calibre
A calibre is the type of watch movement encased in an assigned timepiece. Its name is usually associated with the manufacturer's name and a standard code, e.g., ETA 2824.
