[Interview] Panerai CEO Jean-Marc Pontroué

Jean-Marc Pontroué became the CEO of Panerai and dramatically changed its public image. What was the reason behind this dramatic change?

The difficulty isn't in the small size, but in the style.

"I've changed everything, but not at all. This is an Italian idiom, and to change everything means to have changed nothing. By the way, we haven't changed the products at all. For Panerai, the hero is always the product. However, we have reorganized the collection into four, changed the materials and sizes, etc., and added products with experiences. For example, the Mike Horn model." One of the most successful of these is the women's Luminor Due. He also emphasized the lifestyle aspect of Panerai.

"The Geneva boutique introduced a new concept, as did the newly renovated Osaka boutique. At the new boutique, customers can now experience shopping while immersed in the Italian lifestyle," says Pontroué, adding that these efforts have significantly changed Panerai's customer base.

"Currently, 75% of Panerai's customers are new. For a long time, Panerai had a high proportion of existing customers. Once you buy a Panerai, you're part of the ecosystem. However, by increasing the variety of models, we have been able to attract new customers, especially women. By adding 38mm, 40mm, and 42mm diameter sizes, 25% of our customers are now women. However, we also have young people who are attracted to larger watches and have become new customers."

　His opinion on size is clear: "The current trend is certainly toward smaller sizes. However, even in this environment, Panerai records the greatest sales with its larger cases. There are few manufacturers these days that make cases with diameters of 44mm, 45mm, or 47mm like Panerai. Panerai will not change the size as a trend, and will not, for example, introduce a round case."

　Apparently, he had some personal experience with the small size.

"Many of the customers and dealers I meet at events are large. On the other hand, I wear a 44mm model. At first, I thought it was too big for me, but now I think it suits me. However, at the same time, I thought, 'I like the Panerai style, but will customers who think that size is too big for them really pay 1 euros for a Panerai?' So I decided to release a smaller size while maintaining the Panerai spirit. To be honest, it's not difficult to release a small case. The difficult part is creating the style."