The big watch brand bets big on the Big Apple
Figures showing just how sharp the post-pandemic boom in luxury watches was between 2021-2022 can be hard to get your head around.A report published by the Federation of the Swiss Watch Industry concluded that exports topped $24 billion in 2022, $2.6bn of them in November alone – an all-time record.
“I can tell you we finished our fiscal year in Panerai as the second consecutive record year,” CEO Jean-Marc Pontroué said recently. “We got a dive because of Covid in 2021 but 2022 and 2023 are record years. We see the traffic in our stores every day, every minute. So we don’t see any slowdown in the business at all.”
The new outlet, located in the middle of the most upscale shopping area on New York’s Madison Avenue, is a 2,000-square-foot, two-storey building known as ‘Casa Panaeri’. The second is a Luminor, the watch that introduced the brand’s trademark curved crown protection bridge. The 44mm Luminor BiTempo New York Edition is a limited-edition model that comes in a diamond-like carbon case, with sandblasted titanium bezel and caseback. The matt grey dial features luminous Arabic numerals and hour markers.
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