This is a very interesting story I read over at Honkidee. it goes as follows: "The brand Panerai, known now as the archetypal New Yorker watch, was once a lowly producer of boring technical equipment (compasses, depth gauges, and the like) until 1935 when they somehow landed a contract with the Italian navy to develop watches that could be read underwater. Being that Officine Panerai had never produced a time-telling device at all, you can imagine who they turned to....Rolex. Released in 1938 only to the Italian Navy, Officine Panerai produced diving watches called the "Radiomir" with movements, cases, and crowns all made by Rolex." This is a piece of watch history right here.
via Hodinkee
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