Founded in Florence, Italy in 1860, by Giovanni Panerai. Originially Rolex designed and manufactured every Panerai except for the GPF 2/56, and in 1916 the Radiomir Patents were filed, illuminating a new era of wristwatch with a new self-illuminating substance. Some 40 years after its conception Panerai quickly grew as the favored watch during war time, for its bold design, precision time keeping, and durable construction. in 1993 the Richemont Group acquired and repositioned Panerai as a luxury watch brand. Panerai is most famous for its Rodiomir and Luminor lines. Today the brands watches are manufactured in Neuchatel, Switzerland.