IperionX breaks into luxury watch market with its recycled titanium tech
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IperionX’s low carbon, 100% recycled titanium could soon find its way into luxury watches under a commercial partnership agreement with Italy’s Panerai.
Panerai and its parent Richemont – a US$65bn luxury goods company – are first movers in the sustainable luxury goods market, while the company is the only provider of commercially available 100% recyclable, closed loop and low carbon titanium powders.
IperionX (ASX:IPX) has already proven that the titanium produced using its patented technologies is suitable, given that it has worked with Panerai to prototype watch cases using advanced additive manufacturing methods that have passed the rigorous metallographic testing and surface quality requirements for the luxury market.
The new commercial agreement gives it a foot in the door of the fast growing $236 billion global luxury goods market
“Our partnership agreement with Panerai represents a major milestone in the luxury goods sector,” managing director Anastasios Arima said.
“For IperionX this demonstrates the potential in other consumer facing sectors which are demanding fully recycled and sustainable, low carbon materials. One of the most exciting sectors are the high growth markets in smart watch, wearable device and smartphone markets.”
Panerai research and development director Anthony Serpry noted that IperionX’s fully recycled titanium provided a way for his company to produce top of the line luxury goods with sustainable titanium.
“The next generation metals such as IperionX’s fully recycled titanium will enable Panerai to deliver on both quality and sustainability,” he added.
IperionX has worked closely with Panerai’s product and technical teams to identify watch designs to be produced using its low-carbon, recycled titanium metal powders via additive manufacturing methods.
The company has produced prototype watch blanks for Panerai and will commence manufacturing of a watch case for a limited edition design that will be released to market in 2023.
Both companies will also work on additional watch designs that will incorporate additional sales agreements for future watch designs.
This article was developed in collaboration with IperionX, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.