Panerai is probably one of the most famous watch brands in Italy. Despite its long history the Company started assembling watches for a wider range of customers only at the end of the last century, whereas almost during its entire existence Panerai supplied highly reliable watches to the Italian Navy.Retelling the story of such a brand in a few words is actually impossible, because of the numerous events that took place during a more than 140 years' history. It is also not quite possible sorting out the events that are of more importance, because they all played a great role in the history of forming the manufacture to become that what it is today. However, the following part of the article will contain those events, which might be crucial in the forming of the company.Everything started in 1860 in Florence, when Giovanni Panerai opened the first watchmaker's shop, which became the basis of the family business Panerai. During a few decades Giovanni Panerai assembled high quality watches in his workshop, until his grandson, Guido Panerai, expanded the business, giving it new horizons to reach. After Guido Panerai established a good relation with the Royal Italian Navy the company focused on manufacturing high-precision instruments and watches for the military sector.In 1900 the Panerai workshop was moved to Piazza San Giovani in Florence, where it can be seen today too.The Italian Navy required for its marines highly-reliable watches, which could be easily read under the dim under-water conditions. Thus in 1938 Panerai began the production of Radiomir watches, which had a 47 mm cushion-faced case, a screw-down crown, the easy-to-read luminous dial with its elements and a mechanical movement from Rolex. This combination made the watches very popular in the marines' lines, where a Radiomir was considered a real man's watch.The fourth decade of the last century marked maybe the most important event in the history of Panerai – the famous Luminor watch was created. This watch was perfect for the Navy as its water-resistance reached a depth of 200 meters. This outstanding achievement (for those times) appeared due to a device called locking lever which was fixed to the case.After the astonishing success of Panerai watches amongst the Italian Navy, in 1956 the Company received a request from the Egyptian Navy. According to the agreement between the two parties, Panerai was to assemble a larger Radiomir powered by the 8-day power reserve Angelus movement with a scale of 5-minute intervals for determining the duration of diving.