Friday, January 18th, 2019
Ferretti Finally Snaps up Wally
Ferretti Group can now boast the widest range of brands in the entire Italian nautical industry.
It’s been in the pipeline for a long time now but finally, Ferretti can add the Wally brand to the long list that they also own including Riva, Pershing, Itama, Mochi Craft, CRN and Custom Line
Led by Chairman Tan Xuguang and Chief Executive Officer Alberto Galassi, Ferretti can now boast the widest range of brands in the industry along with boat building facilities located across Italy.
Established in 1968, the Group is also present in the USA – via its subsidiary Ferretti Group America, which manages a network of points of sales and dealers specializing in the marketing and sale of the Group’s brands throughout the North American market
The inclusion of the Wally name among the line up is the result of an exclusive license agreement of the Wally brand, that allows the Group to work immediately on the further development of the brand.
In the four-year period 2019-2022 Ferretti Group will invest over 84 million euros – 70 million euros in the first two years in the development of the brand and in the design and construction of new product ranges.
The new Wally models will be built at the Ferretti Group shipyards, specifically the Super Yacht Yard in Ancona will be the reference plant for Wally’s largest yachts.
During a press conference at the Düsseldorf Boat Show, Ferretti Group presented the first project of the new-era yachts the 48 Wallytender, a craft they hope to première at the Cannes Yachting Festival 2019.
Luca Bassani, founder of Wally, commented: “The market today requires significant investments to develop new products and new markets. Ferretti Group has great industrial, organizational and commercial capabilities and will be able to boost Wally.
He added, “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.”