The connection between the two are more than meets the eye.
What does Rolex does really well?
1. Marketing
2. Association of a public event (sports, exploration, etc)
3. Image of a waterproof watch
The modern Panerai Company (Officine Panerai, I'll use short form OP from now) surprisingly have more of the same list
1. Marketing (it does it so well some ranked it as high as a fashion brand now)
2. Association with public figure, mostly celebrity (I remember seeing photo Disney's CEO wore a luminor to the board meeting)
3. Image of a WW2 watch
What's the different?
Oh yes. OP has use numerous 3rd party movement, just something on top of my head Zenith, Minerva, Omega, Rolex, Angelus, ETA, Valjoux, JLC and Piaget. There might be more as am don't think I remember it all.
Funny thing is Rolex was never taken seriously until the early 80s. When the Hongkie goreng it up. Ask someone who is above 65 years old what is the best brand back in the 50s, 60s or 70s almost no one will say Rolex. What you'll hear is Omega or Titoni. On an more up scale level maybe you'll hear the name Vacheron or Cartier, yup that's right Patek wasn't even there yet.
If we talk about the legendary robustness of Rolex watch, I'm afraid it only limit to the Sea-Dweller and Explorer 1. Not Sub cos up until the mid 60s Rolex still can't keep the Sub water tight pass 60m. Real diver use omega, blancpain or Doxa. It's the Sea-Dweller that show great improvement in water resistancy and Rolex had help, COMEX.
The way Panerai went about it is different. The old Panerai is predominantly an instrument manufacturer and supplier. The Italian Navy was one of their client and when the Navy request for a diving watch (an instrument back in the days). Panerai went to Rolex for the reason I believe
1. Panerai was selling Rolex watches in the little Firenze store.
2. Rolex was honking the waterproof ability of its watch so Panerai think "ok why not?"
3. Why risk screwing things up ourselves if there a best out in the market and is available for purchase.
The 1st batch of watches given to Panerai from Rolex did not pass the Navy's test. Water tideness was an issue and Rolex haven't solve it. 2 more batch were deliver over a period of 2 year. They were better but the issue still remain. What Guido Panerai (the man that helm panerai at the time) did on its own was they went into R&D to solve those issues. The famous crown guard is one. The super bright luminescence subtance Radiomir and Luminor is another.
Improvement also being make by experimenting with different case but I believe those are not sole Panerai effort.
The panerai watches were being put into real use way before any submariner since the Sub only enter into the market around 1953 (long way from WW2).
Yes they were not perfect but these Italians have balls and they made it, both the frogman and Guido Panerai show human spirit can withstand any obstacles.
Yes the Italian lose the war but that didn't stop the frogman for completing their mission and some gave their life to serve the country
Yes the Panerai Company never make a watch before this but that didn't stop Guido Panerai from trying. The frogman's lives depend on these instrument.
No one can take away this part of the history from panerai. Not rolex, not straps addicts, not the current corporate monkey of OP and not even the countless ridiculous SE that have been release can put a dent on it.
For these watches, the instrument that tied to the wrist of the 2 frogman who bravely set out the dark open water to sink a submarine that operate by 30 plus crew(maybe more). Like David vs Goliath, a story of bravery and heroism.
Now do you still care if they are big, ugly, poorly finish and only comes with leather straps?
Regards
Tyler