Ferretti acquires the Wally brand
The Italian superyacht group Ferretti has announced that it has signed the acquisition of the famous luxury boat brand Wally. The sailboat and motoryacht manufacturer has been added to the list of well-known brands in the luxury yachting sector, from Riva to Pershing, CRN, Itama and Mochi Craft, already owned by the transalpine manufacturer.
Industrial investments in Wally
Luca Bassani, founder of Wally, had been looking for an investor for several months. After several experiences of in-house construction of its yachts in Italy and Tunisia, the brand subcontracted the manufacture of the boats in various shipyards depending on the projects. This business model may have been a problem and integration into the Ferretti group will allow direct control of production. The group indicated that the construction of Wally's new models would be entirely carried out at the Ferretti sites and the largest boats at the superyacht yard in Ancona on the Adriatic. An investment of 84 M? is planned over 4 years, including 70 M? during the years 2019-2020 for the design and production of Wally yachts.
"The market today requires significant investment to develop new products and markets. Ferretti has extraordinary industrial, organisational and commercial capacities and will be able to boost Wally," says Luca Bassani.
Opening to sailing boats
With the acquisition of Wally, the Ferretti group has acquired a prestigious name, but also a diversification into the world of sailing. Until now, sailboats have not been included in its catalogue.