Founded in Florence in 1860 as a workshop, shop and school of watchmaking by Giovanni Panerai, for many decades Panerai supplied the Italian Navy in general, and its specialist diving corps in particular, with precision instruments. In 1956 the brand developed a diving watch by the name GPF-2/56, which was later popularly called the "Egyptian" as it was supplied to the Egyptian Navy with the consent of the Italian Navy. Just over sixty models were made, entirely assembled in Florence by the master watchmaker Linder. Today, the brand develops and crafts its movements and watches using a perfect melding of Italian design flair with Swiss Horological expertise. Being the purveyor of excellent craftsmanship, Panerai makes watches that seamlessly blend aesthetics and functionality.