Luxembourg is essentially uncharted territory for serious watchmaking, making it the perfect home base for a brand looking to disrupt the status quo. That’s especially true for PANOM. Founded by Paul Richard and Quentin Istria, friends for over a decade, this new independent house wants to put Luxembourg firmly on the horological map. Its debut watch, TheHive, is a limited-run timepiece of just 150 pieces.
Its standout feature is its honeycomb dial, which uses a clean open heart window to show off the balance wheel of a Swiss SOPROD movement. This gives you a clear view of the watch’s beating heart without cluttering the dial, while the rest of the central dial is defined by a laser-cut, three-dimensional pattern that skips a date window to keep the symmetry sharp. Could it be that Luxembourg is finally ready to carve out its own distinct slice of the independent market?
The case
TheHive is built from 316L stainless steel and comes in a 40.5mm case diameter. Its tonneau-style shape sits at 10.25mm thick, giving it a slim profile with sharply faceted lugs that slope abruptly downward. This sculpting allows the case to hug the wrist comfortably without feeling bulky. PANOM has created an angular profile that still carries the wrist presence for larger ones, with high-end vertical brushing and polished chamfers that add contrast and depth.
A prominent, circular fixed bezel features notches evenly spaced around its edge, while a fluted, unguarded crown keeps the profile clean and uncluttered. To protect the watch, the brand used sapphire crystal on the front and an open caseback, backed by a practical 100-metre water resistance rating.
The dial
True to its name, the dial features a detailed honeycomb texture and sits atop the movement, adding visual layering. The main draw here is the open-heart window, which gives you a clear, uninterrupted view of the balance wheel at work without compromising on legibility. PANOM reveals just enough of the inner mechanics to keep you visually engaged when reading the time, without stripping the dial bare and turning it into a full skeletonised dial. Skipping the date window was also a smart move, as it keeps the honeycomb layout clean and perfectly symmetrical.
You can get the dial in five different variations, complete with a full block of colour representing the baton hour track. The black and silver options keep things traditional, but the vibrant blue, green, and purple colourways really stand out, adding a great pop of energy to the wrist. Finally, all the variants are treated with Super-LumiNova, so low-light visibility isn’t an issue.
The movement
TheHive is powered by a Swiss-made SOPROD M100 Squelette automatic movement. For a debut release from a new independent brand at this price point, choosing a premium Swiss calibre is a strong statement of intent. The Soprod M100 is a step up from basic mid-range movements. It features a handsome perlage finish made visible through the caseback and winds bidirectionally. It runs at 28,800 vph, features 25 jewels, and offers a reliable 42-hour power reserve.
The strap
Matching the watch’s modern, go-anywhere nature, TheHive comes fitted with a high-quality vulcanised rubber strap. Rather than a standard pin buckle, PANOM has fitted the strap with a multi-position deployant clasp, engraved with the company name. This makes it incredibly easy to tweak the fit throughout the day as your wrist naturally expands and contracts, keeping it comfortable and secure. It really reinforces the idea that this is a timepiece built to be worn out in the real world.
The verdict
The PANOM TheHive is a really impressive first release, pairing a solid Swiss SOPROD movement with that striking honeycomb open-heart dial. But beyond the watch itself, picking up one of these limited editions essentially gives you a membership card to the PANOM Club. It’s a private, owners-only community that gives you first dibs on future drops and access to exclusive events. If you like getting behind new European independent brands early on, especially ones focused on straightforward, solid watchmaking, it’s a cool project to back, and because they sell strictly direct-to-consumer, the whole community feels genuinely tight-knit rather than corporate.
PANOM TheHive Pricing and availability
PANOM TheHive is strictly limited to a single production run of 150 numbered pieces across five distinct colourways, 30 per colour. Delivery is scheduled for 30 October 2026. Price: €2,900 (incl. VAT)