FERRETTI ANNOUNCES NEW STRATEGY FOR ITS EXPANSION INTO THE U.S. MARKET Miami, FL., October 30 th, 2008 – Ferretti S.p.A., parent company of Ferretti group, a world leader within the sphere of designing, building and marketing luxury motoryachts, which encompasses nine of the most exclusive and prestigious brands in the nautical world (Ferretti Yachts, Pershing, Itama, Bertram, Riva, Apreamare, Mochi Craft, CRN and Custom Line), arrives to the Ft. Lauderdale International Boat Show with an impressive line-up and presentation of its prestigious fleet comprised of 23 yachts, of which 2 are previews, further proof of the great importance that the Ferretti group has always dedicated to its US customers.
Recently celebrating 40 years since its inception, this past year marks a particularly significant nautical year for Ferretti. Achieving many milestones over the past year and developing new, cutting edge technologies, has allowed the company to successfully uphold its leading position in the marine industry worldwide, thereby proving Ferretti’s strength time and time again.
As a result of its continued growth and in order to further diversify its dynamic portfolio, Ferretti has developed a highly strategic plan for expansion into the U.S. market. The American market has always been a strategic area for the company and its commitment to the U.S. market has grown especially strong within the last year. Ferretti has redirected its efforts in the U.S. and has devised a long-term strategy to further establish a direct presence in the U.S. market in order to meet the high quality standards set forth by the Ferretti brands. One of the most significant new initiatives that Ferretti has undergone this year to implement this new strategy was the recent acquisition of Allied Richard Bertram Marine Group in September of 2008. As a result, Ferretti has formed Allied Marine, the newest Ferretti group company to be added to the group’s impressive portfolio. In order to effectively penetrate the U.S. market, Ferretti group acquired all of the assets, brands and ongoing operations of the American company, which specializes in the post sales, services and the marketing of both new and pre-owned motoryachts as well as providing brokerage services. With over 50 years of success, Allied has remained a leader in the U.S. marine industry, by emphasizing the importance of superior customer service in a personalized manner. This new acquisition will enable the group to enter important sectors of the nautical market with a high added value, such as distribution and after sales assistance service. Also, it will provide Ferretti customers in the U.S. with more personalized, quality, comprehensive and effective after sales service assistance for Ferretti customers and products in the U.S. As for the foundation and allocation of Allied Marine’s activities, there will be more details developing in the coming months. Furthermore, Allied Marine will operate out of its main facility in Ft. Lauderdale, Florida and will remain as the main headquarters for Ferretti in the USA. As the company will be developing its network outside of Florida over the course of the next year, it will seek to expand its capabilities throughout the U.S. to offer the highest service available. Allied Marine is now the sole distributor for all of the European brands in the U.S.A. and will continue to be the exclusive distributor for Bertram and Tiara on the east coast of Florida. Bertram will retain its previous dealer network outside of the state of Florida. Consequentially, George Kyriazakos has been appointed Chairman for Ferretti operations in the USA. George Kyriazakos is a long time Ferretti board member, as well as a successful boat dealer and a passionate boater. In this role he will be responsible for overseeing and coordinating all ongoing activities carried out by Ferretti companies in the USA. Robert Mc Dougal has been appointed President for Allied Marine thus overseeing all service, brokerage, sales and communication activities. Giovanni Vacchi will maintain his role as Chairman and CEO of Bertram Yacht. Aside from this new comprehensive strategy for the U.S. market, Ferretti is also forging ahead with product innovation and launching new models on the US market. Two new models, displayed here at Ft. Lauderdale, include a world preview the new Bertram 540, a world-class sport fishing yacht, which incorporates cutting edge technology, sleek styling and high-performance into an innovative sport-fishing vessel and the new Custom Line 112’ NEXT, a preview for the US market, the new flagship of the brand’s planing line, one of the very best expressions of top level yachts thanks to its finest woods, leather and fabrics. This presentation of Ferretti’s prestigious portfolio of brands in the nautical world (Ferretti Yachts, Pershing, Itama, Bertram, Riva, Apreamare, Mochi Craft, CRN and Custom Line), displayed here at the 2008 Fort Lauderdale International Boat Show with as many as 23 boats, showcases the advanced world of Ferretti products and represents luxury, innovation and excellence at its best. During the traditional Opening Press Conference held on October 30th, George Kyriazakos, Chairman for Ferretti Operations in the US, commented: “The US market is a key area for our Group. I am sure that this new strategy will allow all the Ferretti brands to be closer to their US customers and to offer them products and services in line with their needs, as well as stronger competences and capabilities guaranteed by Allied Marine’s long history in the nautical business”.
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