Ferretti group unveils world premieres and revenue records
Posted On October 1, 2021
With the Cannes Yachting Festival and the Monaco Yacht Show 2021 behind us, it’s time to reflect on September’s biggest hits. It’s impossible to ignore how strong the Ferretti Group is – the Italian builder has taken a fleet of 23 yachts to the south of France, revealing five world premieres and some promising post-pandemic figures from all of its seven brands. The group revealed, for example, that in the first six months of 2021, its revenue (€ 457m) was already around 75% of all 2020 revenue – if things continue, they expect to end the year on a + 50% high.
The first ones, for their part, represented a more innovative and contemporary strategy, representative of the “renaissance” of the group, led by CEO Alberto Galassi who says that 2021 is “the year of Italy”. Launches of her most famous brand, Riva, include the 68 ‘Diable and the 76’ Perseo Super – both are sporty vessels with technological and design features that push the boundaries of the brand. The group also unveiled the new Pershing 6X, a bold, daring and swift addition (it has top speeds of 48 knots) to Generation X; the Ferretti Yachts 1000, the brand’s new flagship and the largest to date; and the Wally WHY200, an eye-catching and innovative new launch from the group’s most recently acquired brand.
Forbes sat down with Galassi at the Cannes Yachting Festival to find out more.
How does it feel to be back after two years?
There really is no better time to return to Cannes with an in person presence and a super fleet of 23 yachts and five world premieres that tell the story better than any word of our determination to create beauty and performance. . It is the year of Italy and the champion is the Ferretti Group. The eloquent figures of the first six months describe strong growth which rewards an industrial strategy focused on constant innovation. In the 2019-2021 triennium alone, we presented 23 new series and semi-custom models, and will launch as many in the next three years, renewing the range of all our brands. We are in a resounding end of the year.
Everyone is talking about your acquisition of Wally. What does Wally bring to the Ferretti group?
Wally was the new trend. For anything new, different and ahead of its time, this is where the brand comes in. Wally is going to be dedicated to being the trailblazer leading the way for the future. When you see, for example, the interior of the Wally 200 with its main cabin with 270 degree visibility, it is something special. Only Wally who does this. Maybe others will follow, maybe others will criticize us, but ultimately it’s on the map – you can’t ignore it.
Do you plan to add other brands to the portfolio?
No, not at the moment. We have enough brands. We were making an offer with Sanlorenzo for Perini Navi, but it’s a deal that we have to bid together, so alone? No, I do not think so.
With so many different brands under one roof, how do you preserve the individuality of each brand, while bringing them together?
It’s very complicated. You cannot betray the origin and heritage of Riva. We must evolve to keep the tradition of the material and elegance and keep the style very sexy. At the same time, Wally must remain super efficient and disruptive, and Pershing must always be a jet fighter. You cannot ignore the fact that they are the closest thing to flying with a jet over the sea is to be on the Pershing at 50 knots. You have to know the brand well, respect it and touch it with a gentle hand in order to evolve while retaining its iconic symbols, its materials or its performance.
One of the ways we do this is by making sure that each brand has a different team. This is actually one of the unique things about the group. We have the best brands in the world, which work separately from each other, but with the optimization of being part of a large company, which gives them an industrial advantage in terms of purchasing and development. This superpower is unique. How else to make 50 models in five years?
What are your goals for the future of the group?
We will introduce new technologies in terms of materials, be it carbon fiber or hybrid technology, we will not stop, we will continue. The other thing is I would like to get into services, not just manufacturing – what they call software around hardware. I would like to provide services to owners, such as chartering, brokerage and mooring. I believe if you can provide the owner with the perfect package, boat plus services, you will be number one. It’s just a matter of time. The only problem is that life is short and you don’t have time to do everything.
You recently mentioned sustainability. Why is the subject so important at the moment and how do you approach it at Ferretti Group?
This is another way to gauge how good you are. You can get financial results, but at the end of the day, what are the benefits for stakeholders? What do you bring to your people in terms of wealth, or to the planet? How can you help to do something? How do you invest to create a better work environment for your employees? This is what we need to focus on and be measured on year after year because it is our social duty. We don’t do this job just for the money – it’s more important than that. The Riva brand, for example, will be 180 years old next year. I don’t run Riva for the money – it belongs to everyone, so I have to preserve and improve it. At the same time, I have to get the best for the people who work with us, whether direct or indirect. This is how I approach sustainability.
What are your biggest lessons from the pandemic?
The biggest lesson I learned is that life is very fragile. We think we can live forever, and nothing can happen to us but in reality we are fragile. We realized that life is short, we should spend the few moments with the people we love the most. If you have a passion like boating, don’t wait. Try to find whatever floats – no matter the size – and go wherever you want with the people you want.
I think the way we enjoy life has changed. When Ferretti Group started to organize events again, people came from all over the world just to have fun, to have physical contact. The chemistry of people when they’re together and not on video can’t be beat. In my job, it has brought us sales, requests and new arrivals because it’s the end of the day, a boat is freedom. It’s your private island.