Wally Yachts to become a part of Ferretti Group
Monaco-based builder Wally Yachts is to join the Ferretti Group's portfolio of brands.
That most eccentric, Monaco-based builder Wally Yachts is to join the Ferretti Group's portfolio of brands. Making the announcement at the Düsseldorf boat show, Ferretti Group CEO Alberto Galassi said the group will initially hold an exclusive license agreement with Wally, representing a significant step towards the group's full acquisition of the brand.
The agreement will also see the start of a four-year period of investment in Wally from the Ferretti Group, including a €70 million fund to be used for brand development and the design and construction of new yacht ranges. All new Wally yachts will be built at Ferretti Group yards with much of that activity expected to take place at Ferretti's Ancona facility.
"The market today requires significant investment to develop new products and new markets," explained Wally founder Luca Bassani. "Ferretti Group has great industrial, organisational and commercial capabilities and will be able to boost Wally. I will continue my design and development activity on an exclusive basis, ensuring the continuity of Wally's DNA. I could not wish anything better for Wally's life.”
The new license agreement will mark the Ferretti Group’s debut into sailing yachts and sees Wally Yachts join an iconic portfolio of brands.