From 1994 and 2004 it was Girard-Perregaux that was partnered with Ferrari in a co-branding agreement. When the contract expired Panerai struck a deal with Ferrari to produce its own line of co-branded watches. Both being Italian companies, the relationship seems destined. The new Ferrari watches were introduced at the Ferrari test track in Maranello Italy, and became available inthe United States in August of 2006. Today there are 23 models divided into two collections, Granturismo and Scuderia as well as Special Editions. The Ferrari collection have design aspects that reflect the design of the cars, such as the prancing horse and the Ferrari logo.
The Grantourismo line is the more elegant of the two designs styles. The FER00001 has the Panerai OP III calibre movement which has an oscillating weight engraved with the Prancing Horse. The case is made from polished steel with brushed edges, it has a winding crown with the Ferrari logo. The black dial black has a square-grid decoration and features the Ferrari logo and Prancing Horse at 12 o’clock. The black alligator strap has white stitching, while the inside of the strap is in red alligator with red sewing.
The Scuderia line is the more sporty of the two. The FER00002 also has the Panerai OP III calibre movement with a power reserve of 42 hours. The case is in polished steel with brushed edges, and has a winding crown with the Ferrari logo. The case-back is also in steel, and has an engraving of the Prancing Horse. It is on a black calf strap with the inside in yellow alligator with yellow sewing. The buckle has been personalised and is adjustable. Each watch has a steel screwdriver and a second interchangeable strap in rubber with the inscription Ferrari.
Since a long term contract has been signed between Ferrari and Panerai there will surely be many years of exceptional watches produced in the Panerai Ferrari line.