Kim-Eva Wempe talks with Angelo Bonati, head of Panerai.
How and when did Angelo Bonati get interested in timepieces? “By destroying them. As a young boy I dismantled the table clock at home. I wanted to know how this fascinating, ticking thing worked. Unfortunately, it never recovered,” says Angelo Bonati, smiling. He may have got into trouble back then as a result of his inquisitive nature, but his efforts also marked the fi rst step on what was to become a very successful career. Today Bonati is the head of Panerai, an Italian watchmaker with a proud history. And right from the beginning, his company was one of Kim-Eva Wempe’s favourite suppliers. Bonati is a big sailing fan and Panerai sponsors a series of classic yacht regattas. Kim-Eva Wempe and Angelo Bonati recently met for a chat onboard Bonati’s private yacht, a Hallberg-Rassy, which was berthed in San Remo harbour on Liguria’s Mediterranean coast.
The first watch ...
Kim-Eva Wempe (KEW): : It’s a beautiful view from here. It would be difficult to find a lovelier place for an interview. As well as being the head of a renowned watch brand, you’re also someone who loves timepieces. Can you remember when you were given your first real watch?
Angelo Bonati (AB): Yes, I was 14. It was a Longines — extra flat with an oval dial. I was really proud of it. Back then Longines had a tremendous reputation in Italy.Kew: Do you still have it?
From passion to profession ...
AB: Probably. But to be honest, I don’t know where. I’ve collected so many watches over the years.
KEW: What made you become interested in timepieces from a professional point of view?
AB: I began working with Franco Cologni at his Tobacco International company in Milan in 1980. The firm was responsible for Cartier sales in Italy in those days. In the beginning we marketed high-end cigarette lighters. Back then, lighters were more of a status symbol than watches. Cologni was my mentor. In the early 1990s a friend drew my attention to Panerai. At that time I was working for another company. I knew everything about Panerai. In fact, I was Italy’s leading Panerai specialist. But when I heard that the Vendôme Group (now Richemont) was interested, I decided not to pursue the matter. I didn’t want to compete against such a large company. Shortly afterwards, I received a telephone call. The caller asked me if I wanted to manage Panerai, and that’s where I’ve been ever since. At the time, I had decided never to work as a manager again. But my love of Panerai was stronger. Joining the company was my destiny.
KEW: When was that?
AB: In 1997. Up to 1992, Panerai supplied its products exclusively to the military. It has to be considered that in 60 years’ time only 300 pieces hand been produced.
KEW: Panerai has a long and rich heritage. How did it all begin?
AB: You’re absolutely right. In fact, Panerai is almost 150 years old. Guido Panerai founded the company with a specialist precision engineering workshop in Florence. Later it was given the name “Officine Panerai”. Around 1867, a few years after being established, the company began making its first on board timepieces for the Italian navy. The officers were highly satisfied, particularly with an invention that Panerai came up with shortly afterwards. The instruments’ hands and numerals were coated with Radiomir, which radiated substantial light even during the darkest nights. Of course, that was of vital importance in the navy. The first Radiomir diver’s watch, which dates back to 1936, also had a similar coating.
KEW: What’s so special about Panerai timepieces, in your opinion?
AB: Their technical innovation and unique design.
Female intuition ...?
KEW: In 1997 — in other words, right at the beginning — we became one of the first companies to sell the watches. And my husband was the first person I gave one to as a present. Shortly afterwards, I was surprised to discover that a woman I knew was the proud owner of a Luminor. You know her too, actually. She’s Kerstin Schmidt, who’s responsible for advertising at Wempe. And I’ve been delighted these past two weeks that I can finally wear the California Dial I ordered in Geneva in 2006!
AB: Yes, it turns out that many women admire our watches, although — or perhaps because — the watches we make are relatively large.
KEW: Why do you think your company’s watches are so appealing to women?
AB: A Panerai is unlike any other watch. A woman somehow feels protected by it.Kew: Alongside wristwatches, Panerai also makes diver’s watches and bathometers.ab: Yes, that’s because of our history. Take a look at this wrist compass, for example. We made 300 of them. And for the last four years we’ve been working on a diver’s watch with a bathometer. In addition to a mechanical movement, it also has a quartz element. Without an electronic captor, it wouldn’t be regarded as a professional instrument. You can dive to a depth of 120 metres with it.
Maritime heritage ...
KEW: Panerai has a special relationship with the sea. How about you?ab: I do too, which is why I wanted to meet you here on my yacht. I’m a passionate sailor. I was born near Milan. As a child I once saw a yacht heeled over on Lake Como. That was it — I was hooked. Since then I’ve moved from Italy’s lakes to the open sea, and I’ve had my own yacht for seven years now. This 15-metre Hallberg-Rassy is the second Why Not.
KEW: It’s a beautiful boat. But I can’t imagine how you could sail it on your own.
AB: Believe me, you can. As a lone yachtsman, I sailed it to Sicily in five days, although I did get some help from the autopilot. You could sail it alone around the world — at least, it was built to master such a challenge.
About sailing ...
KEW: Does it take long to learn how to sail properly?
AB: It’s not something you learn from books. It’s far more important to gain experience, know your vessel and your environment, anticipate weather changes and be able to deal with all sorts of situations. You should never be totally dependent on electronics. And you have to deeply respect the sea. Something completely unforeseen can always happen on board a ship. The key thing is to respond correctly.
KEW: You’re a keen sailor and Panerai is also heavily involved in sailing. How did that come about?
AB: One day, someone asked me if we would be interested in sponsoring a few classic yacht regattas. I immediately said “yes”. Obviously, my own enthusiasm made the decision much easier. But tradition isn’t the only bond between Panerai and sailing. They also share common values, particularly when it comes to classic yachts. A wooden ship combines both tradition and first-class craftsmanship, while the measurement of time is of course a key aspect of navigation. Motorboats simply don’t have a soul.
KEW: What sort of events do you sponsor?
AB: We sponsor the Panerai Classic Yachts Challenge, an entire series of regattas for classic yachts. It begins in spring with the Antigua Classic Week in the Caribbean and ends with the Régates Royales in Cannes at the end of September. A whole series of regattas take place in between — for example, close to the Côte d’Azur, Nantucket and Sardinia.
KEW: Can you describe such an event?
AB: It’s a get-together of the world’s most beautiful classic yachts. You can see old America’s Cup yachts like Cotton Blossom II, which competed last year, with America’s Cup legend Dennis Conner. Then there’s the sloop Cambria, which was built by William Fife in 1928, and the recently restored Lulworth, a giant 46-metre cutter built in1920. As passionate sailors, we passionately celebrate our sailing festivals. Tens of thousands of enthusiastic spectators follow our regattas from the coast or, even better, close up from their own boats. It’s an inspiring scene.
KEW: It sounds fantastic.ab: You must experience it someday. In a few years, Panerai will be able to take part with its own boat. Last year, the company bought an old 23-metre Bermuda ketch in Antigua. It was designed and build in 1936 by the architect and yacht builder William Fife. It’s a wonderful boat, but we’ll need about three years to restore it to its former glory. That’s a lot of work.
Craftsmanship and luxury...
KEW: Oh, look, that’s a marine chronometer from Wempe!
AB: Yes, I saw it in a Hallberg-Rassy accessories catalogue and ordered it from you. It looks wonderful. Believe me, you don’t see something like that very often. The quality is excellent.
KEW: That’s made my day!
AB: I’m very aware that Wempe is one of the few companies that rely on good old craftsmanship to make mechanical ship’s chronometers. Like this sail sack. A master of knots from Normandy gave it to me as a gift. All of the sailors want him to come to our regattas and make them wristlets and so on.
KEW: While we’re on the subject of craftsmanship: Although Panerai is an Italian brand, its timepieces are made in Neuchâtel in Switzerland. Why is that?
AB: Let me put it this way: We Italians have the ideas and the technical creativity; the Swiss are the better craftsmen.
KEW: When I think about your first very own creation, I was extremely impressed by the linear power reserve display. To what extent are you involved in new developments?
AB: That one was my idea. I sketched it on a piece of paper. But the people at the company said that I was crazy, and I asked them why they thought so. “Because it’s totally different from any other watch,”they replied. “That’s right,“ I thought to myself. Everything you do should be done lovingly and with passion. Pure marketing ideas never work. You have to be able to dream, too.
KEW: After your first creation, you unveiled the latest innovations in Florence, including three more of your own creations. Tell us more.
AB: Yes, the technical innovations. Classics like Panerai are always innovative. The trade press was very enthusiastic. The P.2004 calibre is what we call a chronomono pulsante, or a chronograph with a single push-button. The P.2003 calibre has a 10-day power reserve and is automatic. And when you look at the P.2005 calibre, the Tourbillon, from above, you can only see a small blue point that revolves. To the see the rest, you have to look from below. This isn’t a showcase timepiece — I wanted to create something technically sophisticated.
KEW: It’s very impressive. But remember that I was a big Panerai fan right from the start. Do you regard exquisite timepieces as a luxury?
AB: A Panerai isn’t a luxury item. We call it a “high-end timepiece”. It reflects our attitude to quality and embodies all our know-how.
