Interview with Angelo Bonati, CEO of Panerai at SIHH 2013

I just talked to the mastermind of Panerai, Angelo Bonati. He spoke to me about the future strategy of the brand and he also has a message for the Paneristi. Please step in listen and enjoy …

This is Angelo Bonati just some minutes ago in his office here at the SIHH 2013 in Geneva …

 

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… and this is the interview with the Panerai-CEO I just made …

Enjoy!!!

 

 

 

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5 Comments

  1. M says:

    I must say, I live in London and have collected many Panerai, since the brand was unknown.

    I waited three years and suffered three price hikes for my 317K, I have real passion for the brand. They need to expand organically.

    My one small issue is that in London we have no boutiques, and they AD’s did not receive any 448/449 allocation, and I believe that all SE’s are for boutiques only.

    We should have an allocation if we don’t have a boutique. I hope Mr Bonatti understand this.

    I liked his interview and his plans.

  2. Thomas says:

    Sadly, their network of dealers have turned acquiring their less pedestrian pieces into a political circus. Accusations of bribes, buddy-network, and outright deceipt regarding desired pieces is common. Unfortunately, they do not manage their invetory well; dealers are often forced to take pieces they don’t want, and rarely given any of the niceer pieces. Check your local (non-boutique) dealer for yourself.

    Thomas

    • I disagree, since this simply is not true. Retailers get the special editions and nicer pieces only a week or two later. This is only a little advantage for the boutiques. The real problem is you often not even see such pieces in the window, because they are all sold before even delivered. What often remains in the boutiques or stores in the end are watches no one of the collectors wants to buy anyway.

      • Thomas says:

        Helo Alexander,

        I challenge your comments, as do the many retailers that carry their watches. And I would kindly suggest you speak with the retailers for their opinions, I have spoken to several, and they are not happy with the average pieces. Panerai has a strategic plan (see 2012 annual report to shareholders) to expand their Boutique presence around the world. Meanwhile, retailers are abandoning their brand. If you keep up on their website, you can actually see dealers dropping off the network. From a long time collector it is sad to see.

        The dealers and boutiques, while no officially, keep lists of names for desired pieces and generally work down the list. Further, Panerai boutiques and dealers cannot take prepayment for pieces–it is official policy.

        Maybe things are different where you are Alexander, and I hope they are. Panerai is losing some of its long time collectors, but also acquiring new ones.

        Panerai is suffering growing pains, higher demand for their peices than production can keep up with, at least the nice pieces. And not all are desired, either. I had four dealers call me to unload Ferrari pieces “AT A DISCOUNT”. That partnership was a disaster, and both firms know it.

        How speculators get these pieces to turn on watch websites, and ebay for twice their price when their dedicated collectors twist in the wind is pushing these collectors to other brands.

        This is a fairly new phonomenon for Panerai, the last six years really. Is Richemont managing Panerai well. That is the real question.

        • Panerai does not treat retailers as a second source of possible business. I see and talk to many of the important international retailers all the year round and I have not heard any complaints about deliveries. Of course they all complain not to get enough of the real hot pieces. Of course, this is easy earned money, so the more they get the better for them … Panerai retailers get their special editions as the Boutiques do, just a week or two later. If Panerai opens more and more own Boutiques this might lead to the fact that some retailers prefer to stop working with Panerai. It´s a personal choice… It´s also a choice the brand finally made and we have to accept that. By the way: to open more and more own boutiques is just something these days all the luxury brands do. This is nothing particular for Panerai. That some one offered you a discount for a Ferrari-watch seems just normal to me. This partnership was a big flop and everyone wants to rid off theses pieces. To club of Paneristi grows and grows, it just also normal that some quit the club after a while…

          Alexander

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