Giovanni Panerai opened the very first watchmaker's shop in Florence in the 1860s and forged a tight network with only the most prestigious and established Swiss watch manufacturers. He was succeeded by his son, Leon Francesco Panerai, and eventually by his grandson, Guido Panerai in the 1890s. Guido expanded his grandfather's business and turned the focus of the company to making high precision mechanisms and became an official supplier to the Royal Italian Navy.
In the early 1900s, the shop moved to a new location, and that shop near the Duomo of Florence still stands today. During this time, the newly named Officine Panerai successfully delivered its precision optical and mechanical instruments to the Ministry of Defense. By 1910, the company was experimenting with luminous materials using a mix of zinc sulphide and radium bromide, later called “Radiomir.” Guido Panerai applied to have the findings patented in Italy and around the world.
