I always love speaking with Ferretti Group CEO Alberto Galassi because he is a charismatic, smart, and quintessentially passionate Italian whose ideas and emotions run at much higher RPM's than most people. So, our chats about his vision, strategy, and leadership philosophy for the Ferretti Group in the global-hyper-niche-ultra-luxury-yacht building business are never boring.
Sure, he's an expert at all the projections, budgets and spreadsheets that are way above the math skills of a humble yachting journalist. But he also knows in his soul that running a company featuring iconic Italian yacht brands like Riva, Wally Yachts, Custom Line and others will always require way more than just money and manpower. He always says: "There has to be passion."
That, I understand.
And frankly, lots of people talk about "passion" in the yachting industry, but few glow with the passion for building boats that make special memories for his special clients all over the world quite like Mr. Alberto Galassi. In fact, you can see his passion is infused into everything the Ferretti Group does. And because of that, the Ferretti Group does more for their clients than just build boats. So let's jump right in...
"How's business?" I ask during a welcome yet brief moment of quiet during the recent Monaco Yacht Show.
"Our numbers are fantastic for all the business reasons that you need to do to be successful," he says like the businessman that he is. "We were able to make and to sell fantastic boats with the right pricing in a very good market, with a good market strategy. And of course, the team is everything. We have a fantastic team of young and motivated people who are doing great things. In fact, we are now seeing the results of what we've been promising and executing over many, many, many years.
"But we never rest because we are selling more than just a boat. We're selling freedom," he adds with a twinkle in his eye. "We're sailing relaxation and peace and nature. The boat is the instrument. It's the dream our owners create to their own taste to so they can have all the freedom, privacy, and lifestyle they want.
"The Ferretti Group is really a membership club. I say this because our clients get access to our wide range of yachts, experiences and events that they can't get anywhere else. Take the special night last year when we hosted 900 people in Venice at an invitation-only Elton John concert that took place at the historic Teatro La Fenice.
"A similar group joined us in Monaco for our Private Preview concert with Robbie Williams at the Yacht Club de Monaco prior to the Monaco Yacht Show recently. Of course the concert was amazing. But you know what was so satisfying about that event for me?
"Seeing how excited our owners were to bring their boats from all over. No matter where they were cruising last summer. They made sure to be on board with their friends for that event. Their time is precious, and we're honored to help our owners, friends and families come together to share special events like these.
"We are a family. Our people have passion and love for what we do and who we do it for. We're an Italian family. Definitely not perfect. But we love what we do. And we will always take care of our family."
See what I mean about passion and energy?
The truth is Mr. Galassi has always pushed the his team when it comes to designing and building new yacht models and forming strategic partnerships. And theyre not resting on their laurels.
The Ferretti Group have had longstanding partnerships with Scudaria Ferrari, Range Rover, Dolce & Gabbana and other leading luxury brands. And the recent announcement of the partnership between Riva and Bang & Olufsen that connects Danish craftsmanship and Italian style in very cool ways seems to be a perfect fit.
But, when it comes to partnerships, the Group's new Riva Residenze that brings Riva's special brand of style and quality to the world of luxury residential real estate in Ft Lauderdale, could make a much bigger long-term impact.
The Riva Residenze is the first Riva-branded residential living concept that's building on the popularity of the the group's growing collection of Riva Lounges in that can be found in exclusive destinations including Porto Cervo, Puerto Banus, Mykonos, Paris, Venice and Monaco.
Knowing how much the Ferretti Group values the American market, I'm not surprised that the location of the first Riva Residenze will be in Fort Lauderdale near the Ferretti Group America showroom. And since the project is being developed with Ocean Harbor Holdings to build a residential tower made up of 36 exclusive apartments with interior design solutions by Riva, it's not hard to imagine how cool a Riva-branded residence will be.
"Since the beginning, Riva has been more than simply a boat brand," Mr Galassi says. "Riva represents a world of beauty and style that has inspired design, fashion and lifestyle choices.
"Riva Residenze takes the brand's signature aesthetics -- mahogany, steel, our iconic aquamarine color, and timeless styling -- into the luxury living sector. The quality and focus on detail that have made Riva famous are unique and universal characteristics that increase the value and appeal of every living space."
Of course the Riva Residenze project fits in perfectly with other Ferretti Group offerings like the Riva Lounges that can be found in some of the most glamorous destinations in the world. The Riva Boutique which offers a collection of apparel, high-quality accessories, and collectibles. And Riva Classiche, the boat service founded by Carlo Riva in 1957, which provides ongoing assistance to the owners of vintage Rivas using the Sarnico-based yard's signature techniques, materials and 182 years of experience.
I've always known Mr. Galassi was playing the luxury long game. And I'm pretty sure Riva's entrance into the high end real estate market is just the beginning. Stay tuned to find out more.