The sector, specifically for the Panerai strap, its demand is declining !! Or so we have heard !!
Truth to be told, the sale performance for this particular item has been declining for us, and we would very much like to know why !! We think ….
1. Global financial instability: Greece debt crisis looks gloomy, and may spread to Portugal and Spain and eventually leading to a global outbreak ! However, any negative impact from this potential crisis would surely be heart felt first by the major players such as the Richemont Group who owns the Panerai and many other luxury brands.
We are in the industry providing derivatives for the Panerai watches, and in reality our business model is so utterly and completely irrelevant on the global scale that we could be considered as ghost. So we feel it’s really lame if we use the Greece debt crisis as an excuse for our non-performance.
2. Panerai is losing its appeal ? Excessive launching of “Limited Edition” watches could be seen as a cry wolf, but that’s our personal opinion. Even with the decline in new sale, the population of Panerai owners remains sizeable and very sustainable for us small operation.
3. New strap makers: Competition is good in our opinion. We all want to make noises for our brands and products. Naturally with more people in the industry, the louder the industry becomes ! It’s nice to keep the maths simple and straightforward.
Objectively speaking, we are not making enough noises among the many makers, and this may be the primary reason for the decline !
4. Vintage Military design: The last couple of years had be stagnant, there just wasn’t any significant change in style in the outlook of a strap ! From our observation, Vintage and military are two most popular descriptions for a Panerai strap ! Repeat business seems unlikely when your first strap has a No.74 on it, and the “new design” strap has the 73 but with everything identical ! We suspect the term “vintage” is outdated.
How about replacing your vintage leather strap with the new steampunk silver bracelet ? The essence of Harley Davidson on a Panerai ! That’s a food for thought !