News Central

Miami, FL – November, 2011 – Officine Panerai, the leading Italian luxury watchmaker, recently expanded its North American retail presence in South Florida this month with two new boutiques in Bal Harbour's popular high-end shopping destination Bal Harbour Shops and on Palm Beach's much celebrated Worth Avenue . These two new boutiques join Panerai's existing boutique in Boca Raton's Mizner Park to further serve Panerai customers in this important regional market.

PANERAI STRENGTHENS ITS PRESENCE IN SOUTH FLORIDA WITH NEW BOUTIQUES IN BAL HARBOUR AND PALM BEACH

The new Panerai boutiques showcase a simple, classic Italian-style atmosphere, designed according to the company's recently launched retail concept which was unveiled at Officine Panerai's new boutique on the via Montenapoleone in Milan earlier this year. In honor of the historic association between Officine Panerai and the Italian Navy, the shapes and materials used throughout the boutique recall the world of the sea: simple lines alternate with wave-like structures, and all materials are derived from glass, white marble, steel and specially-treated teak, most of which were imported from Italy. Inside each boutique, a large wall clock features one of the more distinctive features of a Panerai timepiece: the "sandwich" structure of the legendary dial; two superimposed surfaces enclose a layer of Super-LumiNova®, used to make the index markers and numerals more visible even in badly lit conditions, which military divers were accustomed to at the time.

Panerai's Bal Harbour boutique is located at 9700 Collins Avenue, Bal Harbour, FL 33154 and its Palm Beach boutique is located 150 Worth Avenue, Palm Beach, FL 33480. Both boutiques will offer a selection of limited edition watches, with a particular focus on the models fitted with movements which are exclusively manufactured by Officine Panerai. Panerai-Bal Harbour and Panerai-Palm Beach joins existing U.S. boutiques in New York City, Beverly Hills and Boca Raton. The opening of these two additional South Florida boutiques represent an important stage in the development of the exclusive world distribution network for Panerai timepieces, which can now count approximately 25 boutiques worldwide, a number set to double by the end of next year.

About Officine Panerai

Founded in Florence in 1860 as a watchmaker's shop, workshop and school, Officine Panerai was for many years the official supplier of precision instruments for the Italian Navy, mostly for the underwater special corps. The projects developed by the company at the time including the Luminor and Radiomir watch - were covered by military secret until 1997, when the brand was purchased by the Richemont Group and launched on the international market. Officine Panerai is today the only Italian fine watch making company, developing and producing its own calibres and watches - a blend of Italian history and design with Swiss craftsmanship - in its own manufacture in Neuchatel, in Switzerland. Panerai watches are distributed worldwide through an exclusive network and in the Panerai boutiques in Bal Harbour, Beijing, Beirut, Beverly Hills, Boca Raton, Buenos Aires, Doha, Dubai, Florence, Geneva, Hong Kong, Macau, Madrid, Manila, Milan, Moscow, Munich, New York City, Palm Beach, Paris, Portofino, Shanghai, Singapore, Taipei and Tokyo. www.panerai.com om.