sail-world.com
 
 
News Home Cruising Photo Gallery Video Gallery
Sail-World.com : ICBC to provide financial support for Ferretti buyers
ICBC to provide financial support for Ferretti buyers

'Ferretti Custom Line 100’'    Ferretti S.p.A    Click Here to view large photo

Italian yacht maker Ferretti and the Industrial and Commercial Bank of China (ICBC) have reached an agreement to provide financial support to potential yacht buyers. In a release, the company said that it signed a Memorandum of Understanding with the lender, allowing potential customers to make use of ICBC's guarantee to make purchases.

Speaking to the Financial Times, the company's chief executive Ferruccio Rossi said although the deal is aimed at the Chinese and other Asian markets, the firm plans to expand funding to potential customers in other parts of the world, including the US and Europe. 'This agreement is a way to expand our presence in the Asia-Pacific region while developing our distribution and promoting made in Italy products,' he said. 'This is very strategic for us because it allows the company to develop its business in emerging markets that are growing.'

Currently, about 15 percent of the Chinese-owned company's sales are from the Asia Pacific region. Europe, Africa and the Middle East account for about 50 percent of sales while 35 percent sales are from the Americas. The company has dealers in over 80 countries. The 43-year-old firm produces seven brands in Italy and one in the US. Now, it plans to manufacture yachts in China, aimed at the country's middle class.

'We will start by focusing on more affordable boats in China and create the client base that tomorrow will buy more luxurious boats made in Italy,' Rossi said to FT. 'I think Ferretti is one of the first examples, if not the first, of an Asian investor investing in an Italian or European luxury company in order to expand sales in the Chinese market. I believe there will be many in the future,' he said.

Chinese bulldozer manufacturer Shandong Heavy Industry Group has a 75 percent stake in the company. The Royal Bank of Scotland (RBS) and Strategic Value Partners own the rest of the company.

Demand for luxury yachts is expected to rise in China which has seen a rise in billionaires following the country's emergence as a booming economic powerhouse.


by Ferretti Group

  

Click on the FB Like link to post this story to your FB wall

http://www.sail-world.com/index.cfm?nid=102907

12:56 AM Tue 16 Oct 2012GMT


Click here for printer friendly version
Click here to send us feedback or comments about this story.







News - USA and the World















America's Cup: Challenger calls Competitor Meeting ahead of deadline *Feature by Richard Gladwell Sail-World.com/nz,




















































NYYC Race Week - Yachting history on display
Rescued sailors reach shore after dramatic ocean rescue
Half Ton Classics Cup: Swuzzlebubble out front on Day 1 + Video
New York Yacht Club Race Week - Yachting history on display
Volvo Cork Week - Thrilling conditions welcome international fleet
Nacra 17 Europeans: Success for Italy's Bissaro and Sicouri
America's Cup: 2017 venue short-list reduced to two Cities
Formula Windsurfing Youth and Master Worlds overall
49er and 49erFX Europeans: Pitfalls aplenty on day 1 + Video
ISAF Youth Worlds - Laser Radial sailors look to join list of legends
Coville soon to chase solo circumnavigation record in giant trimaran
Fierce competition at the Meanline Fins Slalom Challenge
Volvo Ocean Race - Team Brunel opt for experienced winner
Bakewell-White supermaxi designed to take Transpac's Barn Door Trophy *Feature
Crew rescued by navy patrol from J/111 racer after Mayday in storm
Team Alvimedica practice in Newport, RI - Photos
18 foot skiff European Championship (Open Europeans) - Final results
Nacra 17 European Championships - No action on day 1
ISAF Youth Worlds - 29er and SL16 sailors prepare for battle + Video
Volvo Ocean Race: Eight new crew members named by teams
Volvo Ocean Race: New additions to Spanish team announced   
2014 Cape Panwa Hotel Phuket Raceweek - Phuket Island is ready to host   
PWA Awaza World Cup - Cyril Moussilmani and Delphine Cousin on top   
Foiling Week - Moth Class Italian Open Championship Day 2   
America's Cup: Luna Rossa foiling in AC45s at their Italian base   
Star World Championship - Germans claim dramatic win in Malcesine   
PWA Awaza World Cup - Down to the wire in Turkmenistan   
Route Halifax Saint-Pierre - Off to France!   
Nacra 17 Europeans - La Grande Motte back in Olympic classes arena   
Stena Match Cup Sweden - Hansen hat trick in Marstrand + Video   
Route Halifax Saint-Pierre Race keeps an eye on Arthur   
World Match Racing Tour: See the Finals replay at the Stena Match Cup   
Newport International Boat Show unveils exciting 'At The Helm' Program   
Stena Match Cup Sweden - First blood to Hansen over Canfield + Video   
Star World Championship - Americans claim race win in Malcesine   
PWA Awaza World Cup - Weather halts action on day 4   
Clipper Race - Henri Lloyd wins OneDLL Cup into Den Helder   
Clipper Race - Close match racing in closing stages of the OneDLL Cup   
Volvo Ocean Race: Spanish play catch-up with under 100 days to go   
World Match Racing Tour: Catch the live action at the Stena Match Cup   


For this week's complete news stories select    Last 7 Days
   Search All News
For last month's complete news stories select    Last 30 Days
   Archive News







Sail-World.com  


















Switch Default Region to:

Social Media

Asia

Australia

Canada

Europe

New Zealand

United Kingdom


http://www.sail-world.com/event_images/image/Twitter_logo_small.png http://www.sail-world.com/event_images/image/FaceBook-icon.png  http://www.sail-world.com/event_images/image/RSS-Icon.png

United States

Cruising Northern

Cruising Southern

MarineBusiness World

PowerBoat World

FishingBoating World

 

Contact

Commercial

News

Search

Contact Us

Advertisers Information

Submit news/events

Search Stories/Text

Feedback

Advertisers Directory

Newsletter Archive

Photo Gallery

 

Banner Advertising Details

Newsletter Subscribe

Video Gallery

Policies

 

 

 

Privacy Policy

 

 


Cookie Policy

 

 



This site and its contents are © Copyright TetraMedia and/or the original author, photographer etc. All Rights Reserved.  Photographs are copyright by law.  If you wish to use or buy a photograph contact the photographer directly.
XLXL WAS US
LocalAds   DE  ES  FR  IT