The Ferretti Group brought its biggest-ever fleet of luxury yachts to the Cannes Yachting Festival; STEPHANIE IP heads to the French Riviera, then up to Sarnico, for the ultimate yachting experience
AT THE 40TH Cannes Yachting Festival, the Italy-based Ferretti Group was truly on top of the world. Exhibiting a total of 25 yachts – the group's largest fleet yet – and six world-premiere models of open, coupe, flybridge and maxi yachts from four of its brands, Ferretti completely overshadowed its competitors, who showed more modest offerings.
Financially speaking, the Ferretti Group has had outstanding growth so far this year, with consolidated revenues of €344 million in the first eight months of 2017, up 10 per cent compared to the same period in 2016 – and that was the first year the group had posted a profit since 2008. Things are looking bright indeed. But Stefano de Vivo, the group's chief commercial officer, remembers when the luxury yacht broker was struggling. He credits those challenging times, before it was acquired in 2012 by the Weichai Group, a Chinese multinational that specialises in heavy machinery and automotive manufacturing, as one of the main reasons Ferretti has been able to bounce back.
With seven brands in its wide-ranging portfolio – Ferretti Yachts, Riva, Pershing, Custom Line, Itama, Mochi Craft and CRN – the group has been able to target every niche and streamline its yacht offerings. “If you're thinking about the quickest boats in luxury, you think Pershing. If you're thinking about