BackAngelo Bonati | We don’t want to deviate from what we have done
Angelo Bonati | We don’t want to deviate from what we have done
PremiumAngelo Bonati, chief executive, Officine Panerai
Angelo Bonati is chief executive of Officine Panerai, a watch brand famous for its Italian heritage, signature brutal style and clutter-free dials. Indulge spoke to Bonati in Geneva recently, on the sidelines of the SIHH watch fair, about the brand’s future, its Italian DNA and innovation. Edited excerpts:
How is business right now? What are your dealers and retailers telling you?
We were worried, you know. Things were not all that well, economically speaking, in Europe or in the US. But business does not seem to reflect (that sentiment). At the end of the day, the market’s absorption is what matters to me.
But did you have trouble in 2011?
Not at all. In fact, we did very well. If you look at the numbers for the group as a whole, we’ve done very well.
How important is India in your global portfolio?
Let me be frank. It is important for us in terms of potential and in terms of the future. But in real terms, right now, not very important. Right now, we are trying to build up distribution and the brand inside your country. However, we should do more exciting things in the near future. I want Panerai to work more in India.
How do you see the brand going forward? Panerai has a very easily recognizable signature approach towards making watches. Are you tempted to tamper with it anyway? Try new things?
We want to continue to follow this path, this coherence of design, the authenticity of the brand and products. Why upset everybody? Is there a risk? Maybe. People ask me: “Why are you not entering the ladies segment?" Because we are not male or female. We are a big watch. Finished. You want a big watch, you buy Panerai. In fact, the identity that we have is what many other brands are looking for. Why should we change?
We see a lot of brands making smaller, softer designs. Purportedly for the Asian markets. Surely you are tempted…
Let me tell you something. Many years ago, we were worried for the Japanese market. Some 12-13 years ago. So when we launched in Japan, we arranged for 40mm cases. Why? Because we thought Japanese people have smaller wrists. It was bullshit. First of all, it is not true that Japanese or Chinese people have smaller wrists than the Italian or the French. There are big people in Japan. And small people in Europe. Secondly, the funny thing was that, while we sold the 40mm and 42mm watches in Europe, the Japanese started asking for 44mm watches.
This is why I am confident that the right way is to stay coherent and honest.
Does this mean, in terms of innovation, you are worried more about what is inside the watch than what you are doing with the outside?
Both! We are doing innovations with movements inside the watches. And outside, we are innovating with materials such as ceramics for the case as well. Where we can, we try to use alternative metals and materials so that people know that our research is continuous. So that people know that we are constantly changing the product.
And in terms of movement?
Every year we work on new movements. We have a programme for the next 10 years in terms of what we want to do with our movements. And we update this 10-year plan annually.
Give us an idea of this 10-year plan. No! (Laughs)
What makes Panerai Italian? Is there an Italian DNA in the brand?
What makes me Italian? Tell me! (Laughs). Panerai is Italian. No question about it. Everything about it is Italian. The design, the way we approach the market, the communication. The sophistication of our communication is typically Italian.
Nobody else in Europe does it like that. It is the sum product of so many small details. And you can identify it immediately as an Italian brand.
Could you point out one or two of those details?
For instance, the quality of finishing of our sports watches is something extremely unique. We want to continue to work in the same way. For us, it is an obsession. Our dials are also unique. They also come from Italy. The simplicity and minimalism of our dials are also, I think, extremely Italian. Today, everyone is doing simple and minimal dials. But it is originally an idea born in Italy.
Does having invested so much in a particular design, that is so successful, make you wary of taking risks with the brand? Has it ever occurred to you, one day, to, say, try a round watch or a Tonneau case?
No. We will waste time. We will waste time doing all that. Look at my watch. Look. It is so beautiful. So strong. Why should we change? Why?
If I make a round watch, and then I put it on a table, you will not recognize it as a Panerai. Why would I want that to happen? That is not Panerai. (Points at his own watch.) This is Panerai.
Of all the watches you’ve launched this year, which one is your favourite?
The Tuttonero. With the black ceramic. But now please don’t ask me what makes the Tuttonero Italian!
sidin.v@livemint.com
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