The ongoing negotiations for acquisition by the group Sanlorenzo, Italy’s third-largest player by revenue in the megayacht segment, and Nautor Swan, the construction site of Leonardo Ferragamo based in Finland (maker of the famous Swan), is just the latest example of a trend in the market for high-end products.
Made in Italy shipyards and large groups
That of strategic acquisitions designed to create large conglomerates, just as happens in luxury and fashion (see LVMH, or of the Kering group that acquired Gucci).
Recent examples of acquisitions are not lacking. It is still fresh news that of
Cantiere del Pardo by Sandro Veronesi’s Made in Italy giant Calzedonia.
. In 2019, it was the
Ferretti to acquire the Wally brand.
. We also know that Solaris Yachts (which as of 2021 has a new majority shareholder, Marc Giorgetti, a Luxembourg-based builder of Italian origin) and Solaris Power have also been in the crosshairs of large Italian shipyards.
But there are not only construction sites. A world champion of Made in Italy is emerging in the world of accessories. Quick Group, to the tune of acquisitions.
Nautor Swam. What will be the goals of the big high-end groups?
Who might be, in the future, the new acquisitions of large groups? In sailing, Hallberg-Rassy comes to mind, the yard that represents the ultimate expression of northern European shipbuilding craftsmanship, has the highest list prices on the market, and produces boats that maintain value over time (its latest creation is 69).
A brand comparable in quality craftsmanship to Bottega Veneta (acquired by LVMH). It will be difficult, however, for the Rassy family (Magnus Rassy, son of Christoph Rassy is the current CEO of the shipyard) to give in to offers from large groups.
If we look at the world of powerboats, an interesting target could be Absolute, the Italian company rich in traditional craftsmanship, turned into a true Made in Italy luxury industry. Absolute has been growing in double digits for years, producing boats 100 percent in-house at the Piacenza shipyard thanks to the wisdom of the Gobbi family and its partners. People who make craftsmanship excellence their strong point.
Returning to the subject of Nautor Swan in Sanlorenzo’s crosshairs. Will it or will it not be done? Leonardo Ferragamo has invested so much in the site. A story of passion and (lots of) money. It will be a real tough nut to crack…
E.R.
