Ferretti Group's yachts are
certainly at home at the Genoa boat show.
At this year's Salone Nautico, from October 1-6, the
Italian maker of floating dreams was present with a full range
of top models from its brands, including Riva, Pershing, Mochi
Craft and Ferretti, as well as with its recently launched
Pershing 70 and Ferretti Custom Line Navetta 28.
Together with the Riva Mythos and the Ferretti Yachts 650,
which made their debut earlier this year, the new models are
testament to the Italian company's continuous dedication to
innovation at the high end of the yacht business.
Ferretti offers a vast range of boats for almost all tastes
(but not wallets), including fly bridges, runabouts, opens,
coupés, lobster boats, fisherman boats and maxi and mega-yachts.
With the exception of US-based Bertram, all models are
produced at the group's Italian shipyards.
The new Custom Line Navetta 28 is a semi-dislocating ship,
characterized by a sinuous and refined design, while the
Pershing 70's knockout looks and futuristic shape are the result
of a focus on aerodynamics which turbocharge the boat's
performance.
"The new models are doing well and the mood is positive.
They have helped shake up the market, especially abroad,"
according to Ferretti Group chief executive Alberto Galassi.
Foreign markets are the main drivers of the industry's
sales growth.
While Ferretti is mum on its sales figures, people close to
the company point out that turnover at firms of its size is
likely in the 400 million euro range.
In terms of markets, Asia in particular is growing for the
firm, thanks to investments made by majority owner Weichai of
China.
Ferretti sold just over 75% of itself to the Chinese
industrial group two years ago and since then the push into
China and Asia - the company already has sales offices in Hong
Kong, Shanghai and Qingdao - has accelerated.
Among other initiatives to support Ferretti, this year
Weichai has opened a new sales center in Zhuhai and is
developing a marina resort where Ferretti will have a shipyard
from where it will be able to service its local customers. In
the future, the site may be used to roll out a new brand,
produced locally for the Chinese market only.
In July Weichai carried out an 80 million euro capital
increase in favor of Ferretti. Some 50 million euros will be
invested as part of a new, three-year industrial plan focused on
the rollout of new models.
Meanwhile in the company's home market of Italy, the firm
is seeing a "timid reawakening" among buyers, Galassi said.
Innovation - constantly launching new models - is important
not only for the top (and bottom) lines, but also as a way to
communicate with the market and prospective buyers.
The reasoning in top management circles at the company is
that even if some market segments seem stagnant, if you don't
invest you risk losing out. But if, instead, you invest you send
a strong signal and are in a better position when things pick
up.
Another key part of communications is being present at boat
shows, like the Cannes Yachting Festival and Salone Nautico in
Genoa.
While the company hadn't placed any orders in Genoa as of
October 3 (orders often are made after potential buyers have had
several opportunities to see a boat), in early September, in
Cannes, Ferretti took nine orders for yachts including the new
Pershing 70 and Custom Line Navetta 28.
At the end of last month, at the Monaco Yacht Show, in
Montecarlo, the company sold another yacht, from its CRN line.
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