When Alvaro Maggini joined Italian luxury watchmaker Panerai in 2018, he brought with him an unbridled legacy of creative endeavour. A multi-year veteran of both the horological and fashion industries, Maggini’s reputation for boundary-pushing design, product intricacy and excellence in marketing suggested the heritage watchmaker was in line for transformative change. But despite boasting an undeniable pedigree for luxury reinvention, the industry legend was not about to rock the boat.
From the outset, Maggini’s mandate was not to rewrite history, but to expand upon an already storied legacy. After all, Angelo Bonati, Panerai’s much-loved former CEO, had spent more than two decades transforming the once-obscure Florentine watchmaker into a highly respected global luxury house. To undo his hard work would be an affront, not only to the great man but to the watchmaker’s dedicated legion of fans known aptly as the ‘Paneristi’.
“The transformation process is the phase that can make the idea even more magical, or, if you discover that what you proposed is not feasible, it can become a disaster for us creatives,” Maggini tells me. “Generally, this doesn’t happen because I am very pragmatic: when I create a new idea, I already develop it with the realisation or a possible direction in mind.”
“In the world of fashion, everything is very fast, with multiple collections per year and more creativity; in the watchmaking field, everything is much more static. It takes years to develop a new calibre, and it takes years for a new product to be successful. The two rhythms are opposite, and even the perception of the customer, although the same, will be different.”
For Maggini, a former advertising executive with ties to Basel’s iconic Academy of Fine Arts, the creative process is not something to be tinkered with. As he explains, driving clarity of vision is what separates great artisans from the pack. In his words, understanding your purpose grants you the freedom to be inventive.
“The creative process is always the same: I inform myself, read, ask questions, search, take notes, get inspired, observe both beautiful and ugly things, copy and transform,” he explains. “To be a good creative, you must be curious, push your boundaries further, take risks, not be afraid of being judged, and have your own guiding principles.
“Creation is not a democracy.”
“Never let yourself be influenced by trends or foolish judgments. We can’t please everyone; what’s important is that what we do makes sense, respects the brand and the product, and is well-executed.”
The Panerai creative director is a man of his word. This year, the maison showcased a series of novelties that speak to the brand’s unique sensibilities, inspired by its long-time partner and current America’s Cup team, Luna Rossa Prada Pirelli. The collaboration, which has been ongoing since 2019, is perhaps the ultimate personification of Panerai’s deep-seated connection to the ocean.
Design by DNA
Founded in Florence, Italy, in 1860, Panerai’s initial claim to fame came via a partnership with the Royal Italian Navy. The watchmaker provided the armed forces with precision timing instruments designed for use under extreme conditions, which proved crucial for the navy’s underwater missions. As Maggini explains, those early pieces were integral to establishing Panerai’s unique reputation for reliability, durability, and innovation.
“Panerai’s deep-rooted connection to sailing and the sea is an essential part of our brand’s DNA, a legacy that stretches back to our origins.
“The transition from crafting naval instruments to creating watches with the same spirit of adventure was a natural progression for Panerai,” he says. “Our historical ties to the maritime world have profoundly influenced our design ethos and brand philosophy, celebrating the courage and daring of those who explore the vastness of the seas. This affinity for the nautical world is more than heritage—it’s a continual source of inspiration that shapes our approach to watchmaking.”
The nautical theme was ever-present at Watches & Wonders this year when Panerai added two new pieces to the Submersible collection. Under a suspended sailing yacht, spectacularly mounted to the roof of its outrageous exhibitor booth, Panerai debuted the Submersible QuarantaQuattro Luna Rossa PAM1466 and 1543 featuring Ti-Ceramitech.
The latter of the two was crafted from a material that renders the case 44 per cent lighter than its steel counterparts and significantly more durable, with ten times the fracture toughness of traditional ceramics, but it was merely a precursor for a much grander reveal.
As Alessandro Ficarelli, global CMO at Panerai, explains, the remarkable Submersible Luna Rossa Tourbillon GMT Carbotech Experience Edition was the innovation the brand had long been searching for. The first Submersible in 45mm to feature the tourbillon complication, PAM01405 Experience Edition is also the first of its kind to marry the complexity of a tourbillon with the futuristic appeal of Panerai’s unique composite structure.
“Its open-worked display allows a glimpse into the watch’s mechanical construction,” Ficarelli says. “With a four-day power reserve, whose indicator is strategically placed on the reverse side for subtle visibility, a 24-hour GMT function and a night and day indication, this new Submersible caters to the needs of the modern traveller.”
The unique Experience Edition could well be Panerai’s most ambitious timepiece to date, and it speaks to the brand’s forward-thinking approach. As we’ve seen on countless occasions over the past decade, the Italian watchmaker is willing to experiment with material, design and functionality, provided it fits the watchmaker’s purpose.
“It is easy to work for a brand with such an important history,” Maggini says. “My job has really been to build the three creative departments internally. By collaborating, we managed to create unity. I brought the maison a consistent, luxurious, and Italian image, with a playful, creative touch not often used in the watchmaking world.”
Uncharted Waters
For Panerai and Maggini, the trajectory is firmly on the up. The maison’s stunning 2024 novelties collection cautiously echoes the brand’s core values, paying homage to the great archive pieces that have come before it without serving as recreations. The iconic hallmarks of Panerai design remain consistent, merely elevated by innovations in case material and calibre development rather than defined by them. As Maggini aptly explains, if it ain’t broke, don’t fix it.
“I remain convinced that a well-made mechanical product is an extraordinary object,” he says. “Today, no one really needs to read the time, but well-crafted items are always appreciated, and an iconic object is immortal. Let’s not change things when they work so well.”
