Ferretti yachts to focus on its vessels
Jul 30th, 2009
The new chief executive of Ferretti, the luxury yacht builder which sailed into financial difficulties earlier this year, has outlined his plans for the future.Speaking to the Financial Times (FT) Salvatore Basile revealed that the luxury yacht market has changed dramatically since the collapse of Lehman Brothers bank in September 2008.
He told the newspaper: "We're living in the post-Lehman world, and a lot of people [who bought yachts] in the pre-Lehman world won't be coming back."
Mr Basile also noted that after the restructuring of Ferretti's debts the company needs now to focus on its yachts.
He said: "My feeling is that Ferretti lost its direction in the past five years and shifted its focus from its customers and its products to its financial performance."
Ferretti was founded in Italy in 1968 and became the head company in a group of nine luxury motoryacht brands.
Earlier this month the company entered into a financial agreement which halved its long term debts.
"I would recommend Dream Marine to others. Everyone was easygoing and helpful. I didn’t mind who I talked to. It was all good. Shame having to come back to London afterwards.
Come on Chris… when’s the next one?"
Come on Chris… when’s the next one?"
