The Ferretti Group is adopting a new corporate operating structure that is focused on a stronger localized sales and distribution presence in key markets with the integration of its North America and Latin American markets and a stronger presence at the 53rd annual Fort Lauderdale International Boat Show, which was held last weekend.
Through its new strategic partnership with the Weichai Group, which acquired a controlling interest in Ferretti, and under newly appointed chief executive Ferruccio Rossi, the group has reorganized with a focus on further strengthening its brands and its centralized product development and engineering capabilities.
Ferretti said the new organization will focus on the individuality of the brands. The product development, manufacturing and brand management teams in Italy will be focused on the “Made in Italy” tradition.
This new directive will also implement a more globalized sales, marketing and service footprint with a localized operating presence in each region, specifically Europe Middle East & Africa, the Americas and Asia-Pacific.
Ferretti said the result of the new corporate structure will be a ‘Glocal’ approach combining the world’s most extensive and diversified product and brand offering, designed and built by the Ferretti Group in Italy, and in America for Bertram, with a localized distribution and service network in each region.
Ferretti said it completed a record year of sales in the American market for the second consecutive year. The North American operating model will be used as a benchmark for the Europe and Asia-Pacific region with centrally localized inventory and a team of local sales specialists for each brand as part of the sales organization.
Complementing the existing offices at Ferretti Group America, the group will also be launching a new retail concept showroom in Palm Beach, Fla., on Worth Avenue in November.
The Latin American markets continue to be a strong growth region for Ferretti. The group is focused on expanding the distribution infrastructure and developing new clients in key Latin America markets, including Brazil, Mexico, Venezuela, Panama, the Dominican Republic and Colombia while fostering new interest for luxury yachts in Peru, Uruguay, and Argentina.