The timepiece industry is having a moment. Credit the pandemic where spending on leisure travel plummeted, a boom in the luxury goods sector, and social media that has shared to the masses what watch collectors have long known: collecting timepieces is also a great investment opportunity. According to the Wall Street Journal, returns on pre-owned timepieces have outpaced wine, art and handbags.
Timepieces are also a way to express your personal style among a sea of utilitarian iWatches. A beautiful watch has the ability to express your individual style, dress up any outfit, and express success and power, the latter of which is essential in a city like Washington, DC. Recognizing this, it’s no wonder that the storied Italian luxury watchmaker, Panerai, has recently opened its first Washington, DC retail space at Tysons Galleria. The boutique spans over 400 square feet and unveils a new design concept that takes inspiration from industrial architecture and the sea, paying homage to Panerai’s craftsmanship in watchmaking and ties to the Italian Navy. The new boutique will make exclusive its special edition watches and reserves a VIP lounge for private consultations for the most discerning collector.
Panerai’s storied history goes all the way back to 1860 Italy, when Giovanni Panerai opened his first shop in Florence, serving not only as a watch shop and workshop, but also as the city’s first watchmaking school. Panerai’s elegant and durable designs caught on and soon supplied the Italian Royal Navy. The company didn’t make available civilian watches until 1993, and now boasts over 250 boutiques worldwide with 60 locations in the United States.
Walking into the new Tysons Galleria Panerai outpost, it’s clear to see the company hasn’t steered away from its original mission of beautiful craftsmanship and design. It’s one chief reason remains among the most popular and recognized luxury watchmakers globally. They are indeed timeless.
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