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Ferretti Group Announces €70m in Asia Pacific Sales
The Ferretti Group has announced that it has generated over €70 million in sales in the Asia Pacific thus far in 2020. Asia has been an important strategic market for many strong European superyacht brands in recent years, and it is clear that Ferretti has tapped this potential with great success, with two new dealership signings and continued expansion across the region.
The continued rise of the Ferretti Group brand in the Asia Pacific market comes despite the Covid-19 situation which has posed a severe challenge to new business opportunities in 2020. The recent results have been the highest intake of orders for Ferretti since it first entered into the Asia Pacific market in 2012. The €70 million has been generated by the sale of 12 new yachts of a total 289m in length.
Ferretti Group has continued its expansion into this strategic market with the signing of two new exclusive dealership agreements in the last two months for the distribution of the Pershing and Riva brands. The dealerships have been signed with Pen Marine for Malaysia and HGB Group for Cambodia and Laos. Both agreements have been selected as part of a commercial strengthening plan which includes significant investments to bolster Ferretti’s global positioning, with the Group now encompassing a network of 14 distributors in the Asia Pacific region.
A further development has come in the form of a Memorandum of Understanding agreement signed with the Sanya Central Business District (SCBD) in Hainan, China. This will allow Ferretti Group ti set up a branch in the SCBD project to facilitate yacht sales and service facilities as well as continued support for development of the industry in the future. Ferretti benefits from local offices in both Hong Kong and Shanghai, as well as an After Sales Centre which can provide bespoke service to clients in the region.
Ferretti Group has launched five projects already in 2020, including the Ferretti Yachts 500, Ferretti Yachts 1000, Pershing 7X, Rive 88 Folgore, Custom Line Navetta 30 and 43wallytender. The strength of a ‘Made in Italy’ brand in the Asia Pacific market is certainly not to be underestimated, and we can expect to see this exciting progress to continue for all eight of the Ferretti brands in the coming years.