Italian boatbuilder to invest over €84m over the next four years in brand development
After months of negotiations, Italy’s Ferretti Group today announced that it has acquired the Wally yacht brand through an exclusive license agreement. The news will be officially presented at the start of boot Düsseldorf, which opens this weekend.
“There has long been a mutual fascination between us and Wally and from today we will continue to develop this extraordinary brand with method, vision and investments. And with the same energy and creativity that have led Ferretti Group to the top of the yachting world,” says Ferretti CEO Alberto Galassi.
“As a yachting enthusiast, I’m looking forward to discovering the boats that will come from the exclusive collaboration with Luca Bassani,” he adds. “It is easy to foresee that they will push the frontiers of innovation and aesthetic avant-garde to new echelons.”
The Ferretti Group has a portfolio of brands encompassing Ferretti, Pershing, Itama, Mochi Craft, Riva, CRN and Custom Line. With the addition of Wally sail and powerboats, Ferretti now claims to have the widest range of brands in the entire Italian industry.
Ferretti says it plans to invest more than €84m over the next four years – €70m in the first two years – in the development of the Wally brand and in the design and construction of new product ranges.
All new Wally models will be built at Ferretti Group shipyards, with the largest models being built at its superyacht yard in Ancona.
“The market today requires significant investments to develop new products and new markets,” says Luca Bassani, Wally’s founder. “Ferretti Group has great industrial, organisational and commercial capabilities and will be able to boost Wally. I will continue my design and development activity on an exclusive basis, ensuring the continuity of Wally’s DNA. All the years and the effort to build the brand will have a continuation. I could not wish anything better for Wally’s life.”
Thanks to the agreement with Ferretti, Wally will be returning to boot Düsseldorf this year after a lengthy absence on Booth 6E59 in Hall 6. During the show, Ferretti will present the group’s latest model – the 48 Wallytender, which will make its premiere at the 2019 Cannes Yachting Festival in September.