Panerai's story is interesting. It began building precision tools in the 1860's for the Royal Italian Navy.

In 1936 they designed and built the Radiomir, a wristwatch named after a luminous material used to make it glow in the dark. It is arguably the first appearance of a wristwatch featuring glow in the dark arms. In 1997, Panerai was taken over by Richemont. Richemont is a Swiss, luxury goods company. The internals of the watch were then upgraded, keeping the external design essentially untouched. Richemont clearly recognized not only what needed to be changed, but what needed to be left alone.

While many watch companies flood the market with different designs, Panerai is very unusual. It only offers two standard models, the Radiomir and the Luminor. There are many different theme variations, but all are based on the same, classic design form.

Radiomir's design remains largely unchanged to this day, and is perhaps one of the longest running watch models in existence. The Radiomir also boasts a signature, pillow shaped body form. Aside from bringing the glow in the dark concept to the watch world, the Radiomir is famous for its one of a kind crown-guard and classic Panerai sandwich dial.

However, the Richemont - Panerai merger did not come without its hiccups. For many years the internal workings of the watch were produced by other companies, such as Rolex and Jaeger-LeCoultre. This prevented the Panerai from fully maturing into its own brand.

In 2005, the company produced the Calibre p.2002 , a hand wound mechanical drive with an extended, 8 day power reserve. This in house created watch movement produced a splash and made Panerai a stand- out among the hotly competitive Swiss watch industry.

In an industry that seems to march to the beat of "when in doubt, design more models," Panerai creates a name for itself simply by virtue of its unwavering belief in its two - and only two - models.

As a result, a Luminor or Radiomir can be recognized at a glance. In the game of releasing as many new models of watches as possible, Panerai has won by refusing to play.