Ferretti Group grows

Group at Cannes Yachting Fair, Bassani wants to invest

(ANSA) - Cannes, September 12 - Ferretti Group said it is interested in buying the sailing brand Wally, which belongs to the Luca Bassani family, founders of the Bticino metalworking company.
    ​ The announcement was made by Ferretti Group CEO, the attorney Alberto Galassi, at the Cannes Yachting Fair​.
    ​ "It's a complicated operation, not a question of weeks, but of months," Galassi said.
    "But yes, we want to invest and grow, because we're not at the limit of our production capacity," he said.​ ​ Ferretti Group's production value was up 22% in August 2018, at 420 million euros.
    ​ "And if we consider that last year's revenue was 624 million euros, we can say that 2018 will certainly go better than 2017," Galassi said.
    "We are investing at the speed of sound, because the nautical market is changing. It's no longer the big fish eating the small fish, but the fastest fish eating the slowest," he said.​ ​ Ferretti Group has spent 154 million euros in investments since 2015, with 91 million euros in research and development alone.
    "This strategy has paid off; 2018 will be the best year ever for Ferretti," Galassi said.
    "We are growing, and above all we are diversifying markets," he said.​ ​ During the period from 2015 to 2018, Ferretti Group produced 30 new models overall, with its brands Ferretti Yachts, Pershing, Custom Line, and Riva.
    "In fact, 81% of our revenue comes from the new models," Galassi said.
    Ferretti brought a fleet of 25 yachts to the Cannes Yachting Fair, five of which are world premieres: ​Ferretti Yachts 670, Custom Line Navetta 42, Custom Line 120', Riva 110' Dolcevita, and Riva 66' Ribelle.