.panerai

Status:	Proposed
Registry Provider:	Neustar
Type:	Brand TLD
Priority #:	1692 - Richemont DNS Inc.
More information:

.panerai is a Brand TLD being proposed in ICANN's New gTLD Program. The applicant is Richemont DNS Inc.

Application Details

The following is excerpted from the applicant's response to question #18:

"The content of this Answer to Question 18 set forth below which describes the plans for Richemont DNS’s registry constitutes the “purpose” of the registry as that term is used in paragraph 1.b. of Specification 9 of the Draft New gTLD Registry Agreement found in Module 5 of the Richemont DNS Guidebook dated January 11, 2012 (“the Purpose”). Richemont DNS will publish its Charter and its policies, guidelines, and other supporting documentation related to the implementation of the registry consistent with the Purpose, all prior to launch. All second level domain names registered by Richemont DNS on behalf of itself or an affiliate will be registered through an ICANN-accredited registrar and will be consistent with the Purpose. All registrants of second level domain names will be affiliates of Richemont DNS or will be parties operating under a written trademark license specifically allowing the registration of a second level domain name within this registry (the “Required License”).

Founded in Florence in 1860 as a watchmaker’s shop, workshop and school, Officine Panerai, Branch of Richemont International SA (“Panerai”) was for many years the official supplier of precision instruments for the Italian Navy, mostly for the underwater special corps. The projects developed by the company at the time, including the Luminor and Radiomir watch were covered by military secret until 1997, when the brand was purchased by Compagnie Financière Richemont S.A (“CFR”), the Swiss luxury goods holding company, and launched on the international market. Officine Panerai is today the only Italian fine watch making company, developing and producing its own calibres and watches - a blend of Italian history and design with Swiss craftsmanship - in its own manufacture in Neuchatel, Switzerland. Watches are distributed worldwide through an exclusive network and in boutiques in Florence, Portofino, Madrid, Geneva, Dubai, Beirut, Doha, Riyadh, Los Angeles, Macau, New York, Buenos Aires, Beijing, Hong Kong, Shanghai, Tokyo, Moscow and Paris.

Its ultimate parent company is Compagnie Financière Richemont S.A. (“CFR”), a Swiss luxury goods holding company, which was created in 1988. This application is being made by Richemont DNS Inc. (“Richemont DNS”), one of CFR’s indirect wholly-owned subsidiaries. The group of companies whose ultimate parent company is CFR are referred to herein collectively as “Richemont”. Richemont’s luxury businesses operate globally. The largest market is Asia-Pacific, which generates more than 40 per cent of sales. We believe the diversity of our geographical operations, with a lack of dependency on any one market, represents a long-term competitive advantage. Panerai, through its various divisions, operates through more than 500 points of sale for watches and accessories, including 41 boutiques, in over 35 countries worldwide.

Richemont directly employs more than 20,000 people worldwide and has employees based in all major regions of the world. Two-thirds of Richemont’s employees are based in Europe, but Asia-Pacific and the Americas are also significant and growing areas of employment. The majority of Richemont’s employees in Europe are based in Switzerland, France, and Germany, where the manufacture of luxury goods is concentrated. Asia and the Far East are growing markets. In all regions, employees are engaged in retail, distribution, after sales service and⁄or administrative functions.

Richemont ‘A’ shares are listed on the SIX Swiss Exchange, Richemont’s primary listing, and are included in the Swiss Market Index (‘SMI’) of leading stocks. Richemont’s South African Depository Receipts are listed in Johannesburg, Richemont’s secondary listing. Richemont is the eighth largest company in the Swiss Market Index and, as of 2007, Richemont was the third-largest luxury goods company in the world by annual revenues. In the 2010⁄2011 financial year, Richemont sales were €6.892 billion, a rise of 33% on the previous year (at actual exchange rates) and our operating profit rose by 63% to €1.355 billion.

Under the Richemont brands, investments in research, development and innovation extend to watch movements, new product designs and marketing-related activities. The annual accounting charge for research and development costs is some €20 million. PANERAI is a registered trademark in jurisdictions throughout the world. Richemont DNS intends to operate the .Panerai registry under a suitable license from Panerai and on Panerai’s behalf.

The .Panerai registry will be a standard, i.e. not a community-based, restricted registry."