Actually...the dials for Panerai’s Luna Rossa watch collection (except the 42mm GMT) ARE made from the sail material used by the Luna Rossa Prada Pirelli team!
First, let me note that sails, and all racing sails, haven’t been made from canvas in eons. Nylon has been the fabric of choice but not for the new AC75s.
Rules for the 36th defense of the America’s Cup has a radical new take on boat design. The yachts are called the AC75 class. For this new class, the main sail (the big one) is not a single sail per convention but a sandwich of two sails that can be shaped to form something resembling a wing. Because the sails can be shaped, conventional sail making techniques and materials were not used. Instead, the new AC75 sails are actually molded filament sheets.
So...I was surprised to discover the dials on the Luna Rossa Chrono Flyback, Regatta, 44mm GMT, and Submersible watches are in fact made from sail material sandwiched with a Luminor dial; the 42mm GMT dial is sandwiched with Scafotech carbon fiber composite from Luna Rossa foils and hull materials.
I suppose I should be fair and point out the defenders, the Emirates Team New Zealand, also has commemorative watches that has been repped, the Omega Seamaster Planet Ocean 600m, and the Seamaster Diver 300m.