FT.com / Reports - The Paneristi: The benefits of engaging with your cult followers
13/09/2010 07:34
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The Paneristi: The benefits of engaging with your cult followers By Lucie Greene Published: September 10 2010 16:19 | Last updated: September 10 2010 16:19
Officine Panerai celebrated the 10th anniversary of its most devoted fan group, The Paneristi, this summer, with the launch of a dedicated limited-edition timepiece designed to the group’s specification.
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The anniversary watch, dubbed The Luminor for Paneristi, was launched on July 1 on the Paneristi website and has only served to fuel the brand’s cult following. “It’s a very forward thinking and modern move for a luxury company. We’ve heard of crowd sourcing [or consumer-designed collections] among mass fashion brands but for a luxury brand to consult its audience is new,” says Ilaria Alber-Glanstaetten, chief executive at luxury consultancy Provenance. “It’s a real acknowledgment of the important relationship between the company and the consumer and will only serve to build on the sense of loyalty and community among Panerai’s followers. The Paneristi are a highly authentic group. If you look at the site, it almost seems homemade. This is a group that genuinely loves the brand.” Luxury brands have traditionally shied away from engaging with fan groups and forums, but increasingly they see the benefits of getting involved. Chris Sanderson, director of insight at The Future Laboratory, a trends prediction agency says: “Louis Vuitton and Burberry, which are very forward in this respect, have proven the value that sites such as Art of the Trench can have.“People respond well when you can play with a brand and engage with it.” “You can learn a lot,” agrees Luc Perramond, chief executive of Hermès watches. Hermès launched its first Facebook fan page this year. “People in online fan groups are very straightforward in expressing their emotions about the brand. These sites also link fans to other fans, building that sense of community. It’s something we’re embracing and hoping to do more of.” The Luminor for Paneristi’s Anniversary is an ode to Panerai’s Italian navy heritage, designed with simple lines, a 44mm Luminor, antique leather straps and classic numerals made from ecru SuperLumiNova. It is hand-wound and incorporates the brand’s crown-protecting bridge – Panerai’s device that keeps watches water resistant to 300m below sea level – all requested by the group. Each model is personalised with the inscription “paneristi.com” and “Tenth Anniversary” on the steel case back. Three hundred models were released on the Paneristi website at €5,500 ($7,000) this summer and were sold almost instantly. “The watch encompasses the history of Panerai,” says Paddy Conway, the site’s moderator.
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“Panerai enthusiasts covet the historic Panerai models, which are very simple in design and reflect an aged appearance. For the current owners to turn round and give respect to this era has been a home run among supporters.” The Panerisiti are unique in the luxury landscape. Today, luxury brand fan sites and Facebook pages are commonplace, but 10 years ago, when the group was founded, they were relatively rare. The site receives 2.25m hits a month and has a global audience. “Panerai was hesitant to reach out to us at first,” says Mr Conway. “But then it saw we offered intelligent posts, comments and were sounding boards to its design and marketing teams. The site is like a home for Panerai fans. We’re a very tight community.” “The Paneristi are truly a phenomenon,” says Angelo Bonati, the company’s chief executive. “No other luxury watch brand can boast an independent community of fans to rival that devoted to Officine Panerai, in terms of sheer size, enthusiasm and organisation. “We wanted to devote a timepiece to the Paneristi on their 10th Anniversary to thank them for their extraordinary passion and continuous support.” The luxury industry has yet to embrace crowd sourcing on a mass scale, but fashion brands are increasingly allowing consumers to create collections. Labels such as Nike, Bloomingdales,
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FT.com / Reports - The Paneristi: The benefits of engaging with your cult followers
13/09/2010 07:34
Havianas, Coach and Keds have all launched crowd sourcing and mass customisation projects recently. It looks set to grow. According to Women’s Wear Daily, crowd-sourced products could soon account for as much as 10 per cent of fashion and accessories retail. Will we see more crowd-sourced timepiece and jewellery collections? It is doubtful, but there is certainly something to be gained from brands rewarding their biggest acolytes. Mr Bonati says “It [the Paneristi timepiece] shows that we are grateful for their support throughout the years – that we are listening to them and that we care.” “These groups are extremely worthwhile to cultivate,” says Ms Alber-Glanstaetten. By rewarding the Paneristi, you are reinforcing their role as ambassadors even more.” Copyright The Financial Times Limited 2010. You may share using our article tools. Please don't cut articles from FT.com and redistribute by email or post to the web. Print article
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