Saudi Gazette JEDDAH — One of the luxury watches' brands in Saudi Arabia is Officine Panerai which stayed close to its DNA and that's one of the main ingredients for the brand's success. "Each of our timepieces has a strong history behind it with a unique & clean Italian design. I am proud to claim that today each Panerai watch is produced at the company's manufacturing facility in Neuchâtel, Switzerland. We produce, design and develop the movements and cases for our watches in-house. All our products revolve around the brand's core principles — exclusive design and technical excellence- proving Panerai as a high-end sport watch brand characterized by melding Italian design flair with Swiss horological expertise." said Milvin George, managing director. On Officine Panerai presence in the Kingdom, George said, Panerai's performance meets and exceeds expectations in the Kingdom. We are able to provide today an exclusive experience to our customers & fans to meet the brand through a network of 3 boutiques, a dedicated staff and a wide assortment of watches. That they are also in constant contact with developers & malls such as: Le Prestige Mall in Jeddah, Kingdom Mall and Addliyah Festival City in Riyadh. To George, the Saudi market is very dynamic, involving retail infrastructure with more and more projects coming into the market, which is upgrading and enhancing the retail experience and that KSA market is an important key market such as Turkey, India and UAE. George said that the most sold watch in the Kingdom is Pam580-Luminor 1950 3 days Chrono Flyback and that Panerai's DNA and strong history which is related to supplying the Italian Navy made Panerai, a masculine brand in the mind of consumers, yet their watches are not restricted to men only. To George the brand balances exclusivity with ubiquity, while the balance is a reflected in hand crafted limited production timepiece, selective distribution and solid network of GCC boutiques situated in major cities and in prime locations. It is also echoed in careful communication strategy that protects the business model, which is built on exclusivity and rarity. The main materials used in timepieces are gold, ceramic, platinum, steel, bronze, carbotech and composite. Panerai continues with the technical contents strategy aimed at conquering and increasing the level of technical awareness through the development and launch of new in-house calibers as well as a wide range of material & straps. About implementation of latest technologies and trends, George revealed that: "The continuous effort of our research & development department (R&D) is helping Panerai to grow as a well-recognized manufacture brand. In terms of technology and trends, we are constantly solidifying our watch collection, introducing new movements and put forth our "Laboratorio Di Idee" expertise, while maintaining the exclusivity of the brand." On the challenges that watches brands face, he said that, to remain unique while communicating with the target audience, by exposing the brand's DNA & history in a correct environment such as private VIP event and selective media exposure both offline & online. In fact the brand is more accessible to women who would like to put forth their confidence and strength. They have a reasonable base of female clientele worldwide who appreciate oversized masculine watches with high-level of watch making. "We protect ourselves from counterfeit products through the Swiss Watch Federation in collaboration with the Swiss Embassy & concerned agencies. Furthermore our international dealers play a vital role and help defend the brand from counterfeiting in their respective markets." George commented on fake market problems. "Our unique brand DNA, being Italian Swiss made, differentiates us from the rest of the luxury brands. However, we have noticed that our customers who wear Panerai also appreciate Patek Philippe, Audemars Piguet & Rolex," George said.
