Italy

Fratelli Canalicchio

Over the past three years, the landscape of the Italian superyacht construction industry has undergone a profound transformation, catalysed by the global Covid-19 pandemic in 2020. The pandemic not only fuelled demand for Italian superyachts, with many ultra-high net worth individuals (UHNWIs) seeking an escape, but also exposed vulnerabilities in the supply chain. In response, major Italian superyacht builders have embraced a strategy of vertical integration since 2022, acquiring suppliers to fortify their supply chains and ensure uninterrupted production capacity.As of 11 January 2024, the key companies leading the Italian superyacht sector in terms of unit output are <a data-gid="gid://syiq/Company/6046" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Azimut-Benetti Group (Company)">Azimut-Benetti Group</a>, <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a>, <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group</a> and <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a>. According to <a href="https://sytiq.superyachttimes.com/" rel="noopener noreferrer" target="_blank" title="">SYT iQ</a>, out of the current 367 30-metre plus superyachts in-build, these four companies have a combined total of 243 superyachts in-build. This impressive figure represents around 66% of all yachts currently under construction in the Italian superyacht sector.<img src="https://photo-assets.superyachttimes.com/photo/298784/image/large-72edcf5b0f4ac812cda7ad817d6243a8.png" data-gid="gid://syiq/Photo/298784">Despite initial setbacks in 2020, the Italian superyacht sector exhibited a remarkable recovery, as evidenced by <a href="https://sytiq.superyachttimes.com/" rel="noopener noreferrer" target="_blank" title="">SYT iQ</a>'s data showing a significant increase in sales: 188 new yachts over 30-metres were sold in 2021, compared to just 67 in 2020. This surge in new build projects, particularly noted among leading shipyards, necessitated swift adaptations to the supply chain to meet the heightened demand attributed to the Covid-19 pandemic.<img src="https://photo-assets.superyachttimes.com/photo/298783/image/large-4c6dc274ecd7dfe671f3198fc2e02c3d.png" data-gid="gid://syiq/Photo/298783">Ferruccio Rossi, <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo&nbsp;</a>General Manager and President of Superyacht division, confirms the impact Covid-19 had on the supply chain pointing out that: “Covid highlighted the vulnerability of global supply chains and at the same time generated a number of challenges, including reduced production capacities, instability in international transportation and limited availability of certain materials. Addressing these challenges has become crucial to ensure business continuity and meet market demand. The acquisition of companies in the supply chain was a strategic move to mitigate the negative impacts of the pandemic”. <img src="https://syt-store-production.s3.eu-west-1.amazonaws.com/photo/298557/image/large-f2e80e39108e4bea63e6898484232afb.jpeg?X-Amz-Algorithm=AWS4-HMAC-SHA256&amp;X-Amz-Credential=AKIA52TLVJASOPFTPHWY%2F20240112%2Feu-west-1%2Fs3%2Faws4_request&amp;X-Amz-Date=20240112T161648Z&amp;X-Amz-Expires=900&amp;X-Amz-SignedHeaders=host&amp;X-Amz-Signature=dd0d56e57c0682f0f023fb332293a3058804150152edbf6fb014ecc25041ab7e" data-gid="gid://syiq/Photo/298557">When elucidating the strategic implications of <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a>'s acquisitions, Rossi emphasises that these moves strengthened operational resilience by increasing control over key segments of the supply chain. Additionally, Rossi notes that increased vertical integration provides flexibility to adapt quickly to global changes and reduces dependence on external suppliers.&nbsp;In offering his perspective on this latest development in the Italian superyacht sector and its implications, Vincenzo Poerio, President of <a data-gid="gid://syiq/Company/1661" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Tankoa Yachts S.p.A. (Company)">Tankoa</a> Yachts, identifies two primary reasons. “First, <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a>, <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti&nbsp;</a>and <a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group</a> are listed on the stock exchange, and publicly traded companies are under constant shareholder pressure to grow and to increase their overall size and revenue. Moreover, acquiring some of their suppliers has had a double advantage: first and foremost these firms have been able to push the firms that they acquired into producing mainly, or even exclusively for them. An effect of these acquisitions is that these firms have increased their production output. The second reason is that it was not easy to find suppliers during the pandemic, and large shipyards have chosen to buy them to guarantee a workforce in key activities and also prevent the suppliers from working for their competitors”. <img src="https://photo-assets.superyachttimes.com/photo/226017/image/large-b7a066e3157a0684982841a6f5d205e2.jpg" data-gid="gid://syiq/Photo/226017">Marco Arnaboldi CEO of <a data-gid="gid://syiq/Company/6700" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Centouno Navi (Company)">CENTOUNONAVI</a> posits a similar view point stating that: “I perceive it as a strategic necessity for companies to manage their suppliers actively, at times aiming to limit competitors rather than solely enhancing their own strength. In the current landscape, challenges persist in supply chains, including issues with sourcing building materials. Companies listed on the stock market engaging in acquisitions often experience an increase in their stock value, demonstrating the market's positive response to their strategic moves”.As for <a data-gid="gid://syiq/Company/6046" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Azimut-Benetti Group (Company)">Azimut-Benetti Group</a> which remains the only private company of the top four firms, they have adopted a distinct strategy in their relationship with their suppliers. They have continued to work without acquiring their suppliers and continue to collaborate with their main suppliers. Being large firms, they provide large volumes of work to their suppliers, and this helps forge favourable long term agreements. According to Poerio, this option as ideal for private firms that don't pursue vertical growth through acquiring suppliers to demonstrate larger sales. <img src="https://photo-assets.superyachttimes.com/photo/113484/image/large-8103458f97b31a7c19645284bbcfbb8a.jpg" data-gid="gid://syiq/Photo/113484">Moreover, Poerio underscores the significance of cultivating robust and meaningful relationships between shipyards and suppliers. This emphasis is crucial not only to secure ongoing work for the suppliers, but also to ensure a continuous and seamless collaboration. “This is also important because a strong partnership means using the same skilled workforce and therefore improves the quality of the products. I am firmly convinced that the shipyard that acquires suppliers creates a challenging dynamic in the relationship. In fact, in order to produce good quality products, suppliers need to achieve maximum efficiency and quality of their products. If the owner becomes the main client, the supplier can be easily forced to do what the parent company requests. It can potentially become a conflictual and skewed relationship. When the supplier is owned by the client, it often results in an unnatural relationship. It is important to encourage suppliers to develop their own autonomy &nbsp;and ability to deal with the commercial side of the business".<img src="https://photo-assets.superyachttimes.com/photo/295946/image/large-5fbd2c3349d9f4d1ab09904a50efd24d.jpg" data-gid="gid://syiq/Photo/295946">In an article featured in <a href="https://www.superyachttimes.com/yacht-news/chris-bizzio-ceo-of-iacomelli" rel="noopener noreferrer" target="_blank" title="">Issue 3 of How To Build It</a>, Chris Bizzio, CEO of <a data-gid="gid://syiq/Company/7419" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Iacomelli (Company)">Iacomelli</a>, puts forward a similar viewpoint on the potential long-term impact these series of acquisitions can have on the supplier-shipyard relationship. Bizzio, who took over the steel manufacturer in 2020, stands strong in the decision to remain independent, asserting that: “We strive to develop unique solutions that best answer our customers’ needs. I see that shipyards are taking over key suppliers, but after a while these suppliers stop innovating because they are absorbed by the 'system'. We are free to explore different aspects of our business and to find out-of-the-box solutions. Some may think the share of the pie is getting smaller, but when you’re able to find bespoke solutions for your customers, you have a new market open to you”.As for the ramifications on shipyards in Italy with a comparatively lower output, Poerio elucidates that shipyards are compelled to “collaborate with various suppliers or, even better, bring some aspects of the supply chain ‘in house’. Consequently, they face challenges such as higher energy bills, increased demands on space and facilities, the need for additional capital to invest in machinery, and expanded spatial requirements. Alternatively, another strategy also involves fostering improved relationships with firms operating in different sectors and persuading them to venture into the nautical sector”.<img src="https://photo-assets.superyachttimes.com/photo/298552/image/large-7852cafec36587fb5fa33772c6d2e93d.jpeg" data-gid="gid://syiq/Photo/298552">The question of whether the main shipyards will persist in acquiring suppliers remains uncertain, given that superyacht shipyards operate with a finite clientele and must consider sustainable growth. What is clear, however, is that these major shipyards have already achieved significant consolidation and are poised to maintain dominance in the superyacht output. It will be intriguing to observe how other shipyards in the Italian superyacht sector will respond to these acquisitions. <img src="https://photo-assets.superyachttimes.com/photo/265932/image/large-01b08e3d1324671c97486224c5953a4d.jpg" data-gid="gid://syiq/Photo/265932">List of recent acquisitions in the Italian Superyacht Sector in the past two years:&nbsp;<a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo:</a>• 48% Stake in Metal Carpentry Firm <a data-gid="gid://syiq/Company/5083" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MEC-Carpensalda (Company)">Mec-Carpensalda</a> (11/04/22).• 66% Stake in Duerre Furnishings Company: Initial stake acquisition of 33% on 29/04/22; Expanded acquisition of another 33% on 02/05/23, showcasing a progressive investment in the furnishings sector.• 49% Stake in Seaenergy (28/03/23), a company specialising in electronics and electrical systems for the yachting sector.• 100% Stake/Ownership of Arbatax.<a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">The Italian Sea Group</a>:• Acquisition of Furniture Company <a data-gid="gid://syiq/Company/7113" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Celi S.r.l (Company)">Celi</a> (18/04/23).<a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a>:• Acquisition of Masello, a company experienced in wooden furniture for yachts). •&nbsp;<a data-gid="gid://syiq/Company/7073" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Fratelli Canalicchio (Company)">Fratelli Canalicchio</a> (29/09/22), a company specialised in static exteriors and automatic kinetic systems for yachts.

Why are Italian shipyards acquiring supply chain companies?

Major Italian superyacht builders have embraced a strategy of vertical integration since 2022.

The Ancona-based shipyard <a data-gid="gid://syiq/Company/112" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Custom Line (Company)">Custom Line</a> has unveiled the new Navetta 38 series, with the first unit under construction and with delivery planned for 2024. The <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a> yard has created a new exterior and interior design as part of a collaboration between the Strategic Product Department led by Piero Ferrari and the <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Group</a>'s Engineering Department, alongside designers <a data-gid="gid://syiq/Company/5547" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Filippo Salvetti (Company)">Filippo Salvetti</a> and <a data-gid="gid://syiq/Company/5082" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Antonio Citterio Patricia Viel (Company)">ACPV Architects</a>.<img src="https://photo-assets.superyachttimes.com/photo/288349/image/large-738eec00590929ef2cfddb1da1ab60e1.png" data-gid="gid://syiq/Photo/288349">The <a data-gid="gid://syiq/Company/112" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Custom Line (Company)">Custom Line</a> Atelier has played a strategic role in the design process, working in close contact with the customer to understand and interpret the style desired and transform the yacht into a faithful portrait of the owner.<img src="https://photo-assets.superyachttimes.com/photo/288342/image/large-fd819ad6e9b5a42dfe2aec0d328b6de3.jpg" data-gid="gid://syiq/Photo/288342"><a data-gid="gid://syiq/Company/5547" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Filippo Salvetti (Company)">Filippo Salvetti</a> penned the yacht's exterior design, while <a data-gid="gid://syiq/Company/5082" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Antonio Citterio Patricia Viel (Company)">ACPV ARCHITECTS Antonio Citterio Patricia Viel</a> created her interior, the new <a data-gid="gid://syiq/Company/112" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Custom Line (Company)">Custom Line</a> Navetta 38 is a hymn to the values of quality, volume and comfort that have been part of <a data-gid="gid://syiq/Company/112" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Custom Line (Company)">Custom Line</a>’s DNA from the outset.<img src="https://photo-assets.superyachttimes.com/photo/288340/image/large-543744c9ef841873c1fb19a966058ce0.jpg" data-gid="gid://syiq/Photo/288340"><img src="https://photo-assets.superyachttimes.com/photo/288339/image/large-68cce90bf3df7e3bb0e55edce374969e.jpg" data-gid="gid://syiq/Photo/288339">“The birth of a new Navetta always exceeds expectations. We achieve this goal by drawing on talented designers who create magnificent new balances between form and function. The result is unprecedented elegance, spatial fluidity and absolute comfort. In the case of <a data-gid="gid://syiq/Company/112" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Custom Line (Company)">Custom Line</a> Navetta 38, this added value comes from the design team. Their ideas and diligent work make it possible to experience the sea with absolute intensity, surrounded by style and beauty. Time spent on board Custom Line Navetta 38, when cruising or at anchor, is a harmonious and pleasurable experience without equal,” says <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a> CEO Alberto Galassi.<img src="https://photo-assets.superyachttimes.com/photo/288337/image/large-dd3a5b70dca9c007e1ccf78fe7737148.jpg" data-gid="gid://syiq/Photo/288337">This superyacht has been designed to maximise the usage of all available space on the four decks, with a large master suite of over 40 square-metres and completely separated crew and guest flows to ensure maximum privacy.<img src="https://photo-assets.superyachttimes.com/photo/288336/image/large-b46de37fb9c60ad4cf597e0c7f2fa59b.jpg" data-gid="gid://syiq/Photo/288336">The beach club and main deck cockpit, together covering over 70 square-metres, are totally open and furnished with a system of freestanding modular units, thus creating a more extensive, generous and multi-functional area at the water’s edge that embodies the flush deck concept.<img src="https://photo-assets.superyachttimes.com/photo/288348/image/large-a76d29baffcfb5dea309006c063955ce.jpg" data-gid="gid://syiq/Photo/288348">The new beach club is an appealing and versatile space catering to guests’ relaxation and recreation needs. The sea-facing couch is great for enjoying the panoramic views, while the spacious swim platform provides direct access to the water. Two gunwales open out to take full advantage of the space and enjoy the experience of the sea to the full.<img src="https://photo-assets.superyachttimes.com/photo/288345/image/large-0daea32997b4e94011359b29aecd6c11.jpg" data-gid="gid://syiq/Photo/288345"><img src="https://photo-assets.superyachttimes.com/photo/288344/image/large-789d7e8bc08632e751da94cfc8365dac.jpg" data-gid="gid://syiq/Photo/288344">With a total surface area of 70 square-metres and 15-metres in length, the extended sun deck becomes an extraordinary space in which to socialise and relax, complete with a spectacular sea-view jacuzzi aft with sun cushions, a sun lounge area forward and an open-air dining area under the shelter of a painted hard top. The entire area is surrounded by expansive glazing that offers a magnificent 180-degree view.<img src="https://photo-assets.superyachttimes.com/photo/288346/image/large-4e1efab02002026e6e831c7a389ed076.jpg" data-gid="gid://syiq/Photo/288346">The exteriors are characterised by a timelessly classic design language that features simple, harmonious lines expressing absolute luxury with elegance and refinement. Lines and forms are essential and clean, with a sculptural treatment of surfaces that adds character, strength and a contemporary flavour, though without undermining the yacht’s elegance and harmonious style.<img src="https://photo-assets.superyachttimes.com/photo/288338/image/large-e75dd69d79a3b479543808fa9f503e05.jpg" data-gid="gid://syiq/Photo/288338">The interior design is developed around a concept based on refined detailing and the use of fine materials with natural textures, including various types of leather and also linen and parchment, chosen both for the finishings and the upholstery and coverings. The custom-designed furnishings are skilfully handcrafted by the shipyard’s expert personnel.<img src="https://photo-assets.superyachttimes.com/photo/288343/image/large-0df3d90ab9c5707fc5dd665ab6051ab9.jpg" data-gid="gid://syiq/Photo/288343">In addition to the master suite, the <a data-gid="gid://syiq/Company/112" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Custom Line (Company)">Custom Line</a> Navetta 38 has four guest staterooms on the lower deck, accommodating a total of 10 people on board and seven crew members, including the captain.<img src="https://photo-assets.superyachttimes.com/photo/288341/image/large-65faa5fbe4b71df9de07c3cd284b92ec.jpg" data-gid="gid://syiq/Photo/288341">Ideal for covering long distances with low fuel consumption and to enjoy category- beating performance, the standard engines are two <a data-gid="gid://syiq/Company/1441" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MAN (Company)">MAN</a> units rated 1,400 horsepower. They drive the yacht to a top speed of 15 knots, with a range of about 2,800 nautical miles at an economy cruising speed of 10 knots (preliminary data). The design is also SCR (Selective Catalytic Reduction) ready and installing the system brings a 70% reduction in NOx emissions (IMO3 compatible).<img src="https://photo-assets.superyachttimes.com/photo/288333/image/large-d4458493ed2a2bf7c80c28102fe34ad9.jpg" data-gid="gid://syiq/Photo/288333">The <a data-gid="gid://syiq/Company/112" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Custom Line (Company)">Custom Line</a> Navetta 38 features including <a data-gid="gid://syiq/Company/7073" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Fratelli Canalicchio (Company)">Fratelli Canalicchio</a> standard hydraulics, <a data-gid="gid://syiq/Company/964" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Naiad Dynamics (Company)">Naiad stabilisers</a> and <a data-gid="gid://syiq/Company/1440" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Heinen & Hopman (Company)">Heinen &amp; Hopman</a> air conditioning systems.<img src="https://photo-assets.superyachttimes.com/photo/288330/image/large-ec8dca6e31f6937e82a223767906048a.jpg" data-gid="gid://syiq/Photo/288330">

Custom Line Navetta 38 yacht series

Custom Line unveils the Navetta 38 series.

Custom Line unveils the new Navetta 38 motor yacht series

<a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group’s</a> annual Convergence occurred from 14 to 17 March in Courmayeur, situated at the foot of Mont Blanc. This event is designated for captains and chief engineers of <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a> yachts. It provides the opportunity to meet and get up to speed on various subjects, from the industry’s performance to possible future scenarios in the field of environmental sustainability and energy transition.<img src="https://photo-assets.superyachttimes.com/photo/263039/image/large-78d3aa7afe3bdbaf21892508a58a1942.jpg" data-gid="gid://syiq/Photo/263039"> The first day commenced with welcomes and presentations from <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group</a> CEO Alberto Galassi and Chief Commercial Officer Stefano de Vivo, who outlined the latest financial results, and the new models and projects currently under construction. Presentations particularly focused on <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti’s</a> commitment to sustainability, which is a core value at the forefront of the Group’s activities, from emissions reduction to the energy transition.&nbsp;The second day was devoted to training, featuring panel discussions led by management together with world-class partners and experts. There were two sessions, the first being about “Propulsion systems and alternative fuels, with a view to environmental sustainability and compliance with new regulations.” The second session honed in on “Prevention of and response to onboard accidents, with a special focus on managing accidents caused by lithium batteries and new alternatives to hydrocarbon-derived fuels”. In both sessions, the audience could ask questions and provide feedback via an interactive app, which encouraged participation and resulted in thought-provoking and educational discussions.<img src="https://photo-assets.superyachttimes.com/photo/263038/image/large-9207570ca9ed1f4baf7b3753332a1fdd.jpg" data-gid="gid://syiq/Photo/263038">Stefano de Vivo, <a data-gid="gid://syiq/Company/4876" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ferretti Group (Company)">Ferretti Group’s</a> Chief Commercial Officer, commented “The first in-person Convergence after two years online demonstrated the absolute importance of this event as a generator of know-how and team spirit. The discussion among more than one hundred captains and chief engineers was both interesting and satisfying, because the ability of yachting professionals to work as a team and exchange insights is a core driver of the success of both Ferretti Group and its yachts. Convergence is an event that leaves us better informed, better motivated and better able to offer our owners an even safer and more rewarding yachting experience”&nbsp;Main partners <a data-gid="gid://syiq/Company/1409" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MTU (Company)">MTU</a>, <a data-gid="gid://syiq/Company/1457" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="RINA (Company)">RINA</a>, Simrad, <a data-gid="gid://syiq/Company/3601" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sleipner Motor AS (Company)">Sleipner</a> and <a data-gid="gid://syiq/Company/1450" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Volvo (Company)">Volvo</a> made a huge contribution to the event, along with technical sponsors Amare Group, <a data-gid="gid://syiq/Company/3524" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Asea Power Systems (Company)">Asea Power Systems</a> and <a data-gid="gid://syiq/Company/7073" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Fratelli Canalicchio (Company)">Fratelli Canalicchio</a>. They were joined by an exclusive selection of partners, including <a data-gid="gid://syiq/Company/4287" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Porto Mirabello (Company)">Porto Mirabello</a> marina, Range Rover and the <a data-gid="gid://syiq/Company/4337" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Yacht Club de Monaco (Company)">Yacht Club de Monaco</a>. Range Rover offered guests the opportunity to visit the Range Rover House, and take a spin on the New Range Rover Sport on a snow-covered track.

Ferretti Group’s Convergence 2023 

Ferretti Group’s annual Convergence took place from March 14 to 17 in Courmayeur, situated at the foot of Mont Blanc.