IperionX and Panerai Collaborate to Create Sustainable Luxury Goods
IperionX Limited announced the signing of a commercial partnership agreement with Officine Panerai, a subsidiary of Compagnie Financière Richemont SA, to make high-end timepieces from sustainable, 100% recycled titanium utilising IperionX's patented technology.
IperionX collaborated closely with Panerai's product and technical teams to identify watch designs that would be manufactured using IperionX's low-carbon, recycled titanium metal powders through additive manufacturing technologies.
IperionX has created prototype watch blanks for Panerai and will begin production of a watch case for a limited edition design that will hit the market in 2023. IperionX and Panerai are working on new watch designs that will include additional sales agreements for future watch designs.
This deal is a significant step forward for IperionX as it enters the rapidly expanding luxury goods market. Importantly for IperionX, the demanding specifications, advanced alloys, and manufacturing techniques used in the luxury goods market are directly transferable into titanium applications for the fast-growing smartwatch, wearable device, and smartphone markets, which are now approaching $500 billion in annual sales.
IperionX believes that there is an opportunity to build a low-carbon, closed-loop, and circular supply of titanium that is superior to existing aluminium and stainless steel applications in these markets.
Anthony Serpry, Research and Development Director at Panerai said:
“Panerai has steadily expanded its efforts to promote sustainable practices through operational, outreach, and educational initiatives to maintain a sustainable environment and healthy oceans. IperionX’s fully recycled titanium provides a way for Panerai to produce top-of-the-line luxury goods with sustainable titanium, which provides a high-end experience for our customers.
Panerai is leading the way for luxury brands in both quality and sustainability. The next generation metals such as IperionX’s fully recycled titanium will enable Panerai to deliver on both quality and sustainability.”
Anastasios (Taso) Arima, CEO and Managing Director, said:
“Panerai and Richemont have been leaders in the application of titanium metal alloys in luxury watches, and they are again leading the market to build a low-carbon, circular supply chain using IperionX’s superior titanium product range.
Our partnership agreement with Panerai represents a major milestone in the luxury goods sector. For IperionX, this demonstrates the potential in other consumer-facing sectors that are demanding fully recycled and sustainable low-carbon materials. One of the most exciting sectors is the high growth markets in the smartwatch, wearable device, and smartphone markets.”
Source: Businesswire
