How did Covid-19 spark a boom in luxury yacht sales for Benetti? From shifting to virtual events to adapting to Gen Z and millennial buyers, here’s everything you need to know
- Benetti received record orders as wealthy customers look to luxury yachts for safer and more open, yet intimate space – with millennials and Gen Zers expecting more fun and entertainment
- Since Benetti started focusing on the Asia-Pacific market, the company has seen revenues of over US$288 million with 75 per cent of sales from Greater China
Giovanna Vitelli, vice-president of Azimut Benetti Group and the daughter of Azimut founder Paolo Vitelli, explains how the luxury boatbuilder has navigated the pandemic.
What makes Benetti yachts different?
Nowadays Benetti creates yachts tailor-made according to their owner’s desires. Each of these is the result of years of yacht-building experience as well as Benetti’s heritage.
We have developed a network of partnerships with renowned design firms and brands, to create extraordinary products that combine refined elegance and uncompromising quality, together with state-of-the-art technologies.
We are investing more and more in R&D – over US$110 million in a three-year period – as we see a rise in the demand for greener yachts and a general increase in awareness towards environmental issues. By doing its part in ongoing research in the environmentally friendly field, Benetti has developed several systems that have been already installed on our yachts over the years and have been heavily tested.
How has your business strategy changed since the start of the pandemic?
Even though the emergency measures implemented since last year were – and still are – quite strict, we had the chance to continue production in Livorno and Viareggio shipyards, always ensuring the highest quality standards.
We faced the pandemic with reliance and responsibility and we think that the yachting industry trend has been marked by this contingency. Our international reliability has allowed us to take part in the general effort for economic recovery, going ahead with export.