The Ferretti Group, one of the top world players in the design, building as well as sale of motor yachts, with an amazing portfolio of the most exclusive and prominent brands worldwide, opens the new autumn nautical season by participating in the 36th Festival International de la Plaisance in Cannes, running from 10th to 15th September 2013. The Group is present with an impressive fleet of 19 yachts, 3 of which are world premieres: Ferretti 960 superyacht, Ferretti 750 yacht, as well as Pershing 62’.
Ferretti 960 Yacht at full speed – Photo by Alberto Cocchi
This year too the Cannes boat show is the perfect venue to hold the Ferretti Group Meeting, which has reached its 11th edition. During the meeting – in front of a large audience made up of employees, dealers, customers, suppliers, and the media -, the Group’s CEO Ferruccio Rossi outlined today the main guidelines and strategic objectives of the new 2013-2018 Industrial Plan and took stock of the first six months of 2013.
Maintaining the Group’s leadership in the boating sector thanks to the “Made in Italy” quality of its yachts, further increasing its presence at a global level, and pursuing a sustainable growth: these are the main guidelines and strategic objectives of the new 2013-2018 Industrial Plan, which aims to reach a consolidated turnover of approximately €900 million in 2018 and more balanced revenues from the three macro-areas: 1) Europe, Middle East, Africa (EMEA); 2) Americas; and 3) Asia-Pacific (APAC).
The above objectives will be achieved through the development of highly innovative products, world-class brokerage & service activities, and the increase of the Group’s components business. These strategies will not only allow for a revenue increase, but also make cash flows less dependent on the various seasons.
Moreover, the new Plan also aims to generate approximately 50 % of revenues outside the Euro area by 2015 and to complete the restructuring process that the Group has been implementing over the last few years by curbing fixed and structural costs, whose current level is no longer sustainable against the present scenario, through several tools ensuring more flexibility and a series of internal measures aimed at improving the boatyards’ production efficiency.
Ferretti 750 Yacht – Photo by Alberto Cocchi
In spite of the unfavourable macro-economic scenario, over the 2013-2016 period the Ferretti Group is expecting to make considerable investments, amounting to over €80 million, mainly in the development of new products and in activities aimed at increasing the efficiency, safety, and environmental soundness of its boatyards in Italy.
The 2013-2018 Plan also envisages a further expansion of the Group at a global level, to confirm its leadership in the luxury boating sector and the achievement of a more thorough knowledge and a better understanding of the needs of its customers and of individual markets. From a geographic standpoint, the Group will thus implement a global strategy in terms of marketing, product development and planning&control, while taking a strong local approach as regards its sales, pre-and after-sale services and product customisation based on specific local needs.
Moreover, during the Cannes Boat Show the Group is presenting a significant change in the “architecture” of its historical brand Ferretti Yachts, following the creation (last April) of the Group’s internal Product Strategy Committee, the main goals being to constantly improve and widen its offer and to develop increasingly successful synergies between all its prestigious brands. Indeed, in September 2013, the “new” Ferretti brand is born, while Ferretti Custom Line is being divided into two product lines which will now be part of the new brand together with Ferretti Yachts. This new architecture has been developed to have three different product lines within the same brand, thereby meeting at best the demand of the Owners (who already noticed how Ferretti Yachts and Ferretti Custom Line shared a whole series of features) and managing sales and marketing strategies even more effectively. The Ferretti brand will thus include three different product lines:
– Ferretti Yachts: flybridge motor yachts ranging between 15 and 29 metres;
– Ferretti Custom Line: flybridge fibreglass planing yachts between 26 and 38 metres in length;
– Ferretti Navetta: the boats of the semi-displacement line Navetta 26 Crescendo and Navetta 33 Crescendo.
The Ferretti Group Meeting has also given the opportunity to take stock of the first six months of 2013, during which the Group received orders recording a 2.3% in spite of the unfavourable macro-economic situation that is still affecting the Euro area. This result has been achieved thanks to the Group’s further expansion on international markets, particularly in the Americas and the APAC area, which confirms the effectiveness of the strategy recently implemented by the Group.
Pershing 62 Yacht – Photo by Alberto Cocchi
More specifically, the EMEA area is still affected by the austerity policies put in place by the countries with the highest public debt and by the ongoing crisis in the boating sector, while the Group’s sales have increased in Eastern Europe, Russia and Turkey, as well as in Africa.
The Group is also witnessing, for the second consecutive year, a two-digit growth in the Americas, with a more-than 19% increase in orders, also thanks to the strategic decisions made over the last few years, which have focused on strengthening the Group’s presence in this continent and expanding its distribution network.
Last, but not least, the Ferretti Group is aiming to further expand in the APAC area, which has gained a crucial role in future nautical business growth strategies and where the establishment of the Group’s subsidiary – based in Hong Kong -, the opening of a representative office and showroom in Shanghai, and the strengthening of a local multinational team have allowed to double the order portfolio. In order to further strengthen its presence in this region, over the next few months the Ferretti Group will open several sales offices and showrooms in Hong Kong, Shanghai, Qindao, Xamien and Sanya.
In line with its strategy of constantly launching new products so as to forerun market trends, the Group this year will present 3 world premieres in the magnificent setting of Cannes: Ferretti Yachts 960 and Ferretti Yachts 750 for the Ferretti brand and Pershing 62’ representing the Pershing brand.
Many other models, symbols of Made in Italy luxury and glamour, will also be on display at the Festival de la Plaisance:
• Ferretti 800 superyacht, Ferretti 690 yacht, Ferretti Custom Line 100’ and Ferretti Navetta 33 Crescendo, representing the Ferretti brand;
• Pershing 82’ representing Pershing;
• Itama 75’, Itama 62’ and Itama 45’, representing the Itama brand;
• Mochi Craft Dolphin 74’ Cruiser and Mochi Craft Dolphin 64’ Cruiser, representing Mochi Craft;
Riva, an iconic brand for the Ferretti Group, is displaying some of the best-known yachts in its open line – Iseo, Aquariva Super, Rivarama Super and 63’ Virtus – as well as the 86’ Domino from the coupe line.
“Maintaining our leadership at a worldwide level, also thanks to the unique Made in Italy quality of our yachts; further increasing our global presence, particularly on emerging markets; and pursuing a sustainable growth – these are the main objectives of our five-year Plan, that we wanted to share with the dealers, Customers, and suppliers that took part today in our annual meeting” – commented Ferruccio Rossi, Ferretti Group’s CEO. “I think that being present this year at Cannes Festival de la Plaisance – one of the most prestigious international boat shows and the event that opens the autumn season – with as many as 19 yachts (3 of which are world premieres) on display bears witness to our will to keep growing, confirming our global leadership”.
