Ferretti Group outlines three-year growth strategy - Trade Only Today

Ferretti Group outlines three-year growth strategy

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The Ferretti Group unveiled its new headquarters in Milan, Italy, on Tuesday and said it will continue to develop the core brands in its portfolio — particularly Riva, Ferretti Yachts, Pershing and Custom Line.

At a press conference, Ferretti Group CEO Alberto Galassi outlined growth and expansion strategies for the next three years.

The plan involves investments in product development and research of more than 50 million euros (about $5.5 million) from 2015 to 2017 that will fund 27 new models, and it follows a capital increase of 80 million euros (about $8.78 million) from the majority shareholder, Weichai Group.

The new Riva Superyachtdivision is part of the new direction, endorsing the brand’s decision to enter the 50-meter-plus superyacht segment.

“On such an important day, when we are officially unveiling our new headquarters in Italy’s capital of design and innovation, we have plenty of reasons to feel proud and satisfied: We are continuing our efforts to relaunch the group, which is now reclaiming its position as the leader in the yachting industry,” Galassi said at the press conference.

“We are investing over 50 million in 27 new models; we are launching the Riva Superyachtdivision, which has already won an order for its first 50-meter craft; we are presenting a group that has already slashed its losses by half and reduced its bank borrowings to an all-time low and will continue to benefit from the full support of its majority shareholder, Weichai, after its decision to continue investing in the industrial excellence of our country by subscribing to a substantial increase in share capital,” he said.

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