IperionX (ASX:IPX) partners with Panerai to develop sustainable luxury watches – The Market Herald

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  • IperionX (IPX) signs a partnership agreement with Officine Panerai to produce high-end timepieces using fully recycled titanium from the company’s patented technologies
  • As part of the deal, IPX will produce prototype watch straps for Panerai and begin manufacturing a watch case for a limited-edition design to be released in 2023.
  • For IperionX, this deal represents a major milestone in its entry into the fast-growing $236 billion global luxury goods market.
  • IperionX shares end the day in the gray to close at 98 cents

IperionX (IPX) has signed a commercial partnership agreement with Geneva watchmaker Officine Panerai to produce high-end timepieces using fully recycled titanium from its patented technologies.

As part of the deal, the company produced prototype watch straps for Panerai and will begin manufacturing a watch case for a limited-edition design to be released in 2023.

Additionally, the company will continue to work on additional watch designs that will incorporate additional sales agreements for future watch designs.

For IperionX, this deal represents a major milestone in its entry into the fast-growing $236 billion global luxury goods market.

Additionally, the demanding specifications and manufacturing techniques of the luxury goods market are transferring directly into titanium applications for the high-growth smart and wearable device market, which is just under $500 billion. dollars in annual sales.

IperionX CEO and Managing Director Anastasios Arima hailed Panerai and its parent company Richemont as leaders in the application of titanium metal alloys in luxury watches while leading the market in building a chain of low carbon circular supply.

The company sees “significant potential” to establish a low-carbon, closed-loop, circular titanium supply, which is a more sustainable option than existing aluminum and stainless steel applications on the market.

“For IperionX, this demonstrates the potential in other consumer sectors that demand fully recycled and sustainable low-carbon materials,” Mr. Arima said.

“One of the most exciting areas is the high-growth markets for smartwatches, wearables and smartphones.”

Shares of IperionX ended the day in the gray to close at 98 cents.

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