IL TIRRENO – NAUTICAL DOSSIER
The new luxory gem. The super yacht “Panorama” realized by The Italian Sea Group
The elegant profile, the materials, the lines and the refined style make of this yacht a masterpiece of the “Made in Italy” yachting industry. A design entirely realized in steel and aluminium, which enable long ocean crossings in total comfort, with its 50 meters in lenght and its tonnage of 499GT.
This is the new superyacht “Panorama” of the semi-custom production which joined a few months ago the Admiral fleet, flagship brand of The Italian Sea Group, global operator in the luxury yachting industry operating in the construction and refitting of motoryachts up to 140 meters. The Group, which was already the owner of the brands Admiral and Tecnomar, early this year acquired the brand Perini Navi Spa, absorbing into the holding the the historic brands Perini and Picchiotti, adding, to the already existing venue in Marina di Carrara, the production sites located in Viareggio and La Spezia.
And thanks to the enlargement of the production capacity, The Italian Sea Group was able to devolve Admiral brand also to semi-custom production: an halfway solution between serial and entirely-customised production, and from that arouses the project Admiral Panorama, created in collaboration with the Piredda & Partners studio which worked on the interiors and exteriors design.
The result is a steel motoryacht with an aluminium superstructure, with no visual barriers and an elegant fluidity between exterior and interior spaces that create a continuous and natural dialogue between all environments, characterized by large volumes and structural details which emphasize spaciousness such as ceiling height and large windows. A careful selection of fine, natural materials such as light wood, stone, and rough metals convey to the interiors a refined and enveloping atmosphere. Panorama can accommodate up to 12 guests who can stay in the four spacious suites on the main deck and the VIP cabin on the lower deck, which can be converted to a large and comfortable TV room and which is flanked by a fully equipped gym area. The owner’s area on the upper deck features open views on three sides and overlooks the private deck forward.
“The key to Panorama’s success lies in the perfect combination of an impeccable, modern and well-balanced aesthetics with the strength of a bold concept that guides every design choice,” explains Nicolò Piredda, creative director of Piredda & Partners. A result made possible thanks to the collaboration and visionary approach of The Italian Sea Group.”
A choice that immediately received positive responses from the market, to the extent that just two months after the project’s launch in September, The Italian Sea Group sold two Admiral Panoramas to be delivered in 2025. The two sales, one of which was finalized by Monaco-based broker Smart Yachts, confirmed the validity of the choice to focus on semi-custom production, while still remaining on a very high level positioning with the exclusive use of noble and more sustainable materials such as steel and aluminum. A choice that involves the Admiral brand with the Panorama project but that also characterizes the relaunch of the Picchiotti brand, a historic brand of Italian yachting, with the launch of a new fleet of four motoryachts from 24 to 55 meters called “Gentleman’s yachts,” inspired by the classic and elegant style of American yachts from the 1960s.
“We are dedicating a great deal of commitment to the development of the Panorama project and Picchiotti’s new Gentleman fleet, which have enabled us to enter the semi-custom megayacht market,” says founder and CEO of The Italian Sea Group Giovanni Costantino. “This strategy allows us to expand sales while avoiding compromising the Group’s design capacity committed to the large custom made yachts”.
Order book close to 1 billion
From sleek and modern yachts to more dynamic and sporty ones, from large sailing vessels to vintage 60s yachting lines, not forgetting repair and refit services.
There is all this in the world of The Italian Sea Group (Tisg), a luxury yachting operator listed on Euronext Milan and the leading Italian manufacturer of yachts over 50 meters, founded and led by entrepreneur Giovanni Costantino. Headquartered in Marina di Carrara and with two offices in Viareggio and La Spezia, the Group operates in the market with five complementary brands: with the flagship brand Admiral, known for the elegance of its yachts, and with Tecnomar, synonymous with sportiness, design, and high performance, to which the brands Perini Navi, a world leader in the production of large sailing yachts, and Picchiotti (formerly owned by Perini), a historic brand that even traces its roots back to the late 16th century, have been added since January 2022, while the refit service is entrusted to NCA Refit, ror which Tisg is increasing the spaces in the Viareggio and La Spezia shipyards, that became part of the Group with the acquisition of Perini.
With this operation, in fact, the group can now count on additional space and production capacity that have been added to those at the Marina di Carrara headquarter which is, to date, the largest private dry dock in the entire Mediterranean, where the Group has two docks of 200 and 147 meters, the only one capable of accommodating yachts up to 140 meters. Large yachts are, after all, the company’s core business, with an order book that is about to exceed 1 billion euros.
Picchiotti and Perini in the colossus. Tisg CEO Giovanni Costantino: “Brand to be relaunched and new sites in which to diversify production.”
Two new brands to relaunch and strengthen, new production sites where to diversify production, with a client portfolio that on mega yachts is about to exceed 1 billion euros and a 64 percent increase in revenues in the first 9 months of the year. it is a decisive moment for the development of The Italian Sea Group, the nautical giant led by entrepreneur Giovanni Costantino, who at the turn of this 2022 analyzes the transformations and strategies for the near future.
It was undoubtedly a significant year, especially considering the acquisition of Perini Navi Spa, which allowed you to enrich the group with two historical brands such as Perini and Picchiotti. What added value do you think you have obtained and how are you moving to relaunch these brands?
“We had great interest in the Perini Navi shipyards in Viareggio and La Spezia. In Marina di Carrara we made substantial investments and have about 120,000 square meters directly facing the sea, but we needed more space, which we have today. With reference to production, Perini will produce exclusively medium and large sailing vessels that, while respecting tradition and historical lines, will be innovative in design and in sailing and propulsion solutions, while Picchiotti’s relaunching project includes a semi-custom fleet of four 24- to 55-meter motoryachts named Gentleman’s Yacht”.
How has the acquisition of the Viareggio and La Spezia sites changed the group’s production organization?
“Thanks to the acquisition of Perini Navi, an important increase in production capacity became possible. The operational resumption of the Viareggio and La Spezia sites was done in record time, and the new production plan is already well underway. The 53-meter sailing yacht Jasali II is currently berthed in Viareggio, for a general survey and redesign of the exteriors operated by our company NCA Refit, while production of the 60-meter superyacht Katana is proceeding apace. The Viareggio site will then also see the return of the Picchiotti brand with the production of the Gentleman’s yacht fleet. In 2023 we will complete the modernization of the Viareggio site with the TISG 4.2 investment plan, which also includes the expansion and renovation of the Marina di Carrara headquarters and the La Spezia site, where the production of the Tecnomar For Lamborghini 63 has been completely transferred.”
It is precisely with the Tecnomar for Lamborghini 63 that you have won important awards. What market are you aiming to intercept with this innovative motoryacht?
“The positive sales trend is further confirmation of the success of this yacht, which has now become as futuristic an icon as the car from which it is inspired. In September we delivered the first model to the U.S., a market that offers interesting growth opportunities in line with our development strategy. Ranked among the luxury industry’s Best of the Best 2022 in the “Motor Yacht under 25 meters” category at the 2022 International Yacht & Aviation Awards last May in Venice.“
More generally, what are the markets the company is targeting through the different declinations of its brands?
“We sell our yachts to owners of all nationalities. We have launched a commercial expansion plan to expand our business in the U.S., where the summer we also opened our first flagship store in Esat Hampton, Long Island, with extremely positive feedback, and in the United Arab Emirates, as evidenced by the successful landing in Dubai of the Viktoriia motoryacht, Tecnomar EVO 120.“
What moment is luxury boating experiencing? Are you being affected to any extent by the international situation?
“The nautical industry is having a good time despite the complex geopolitical environment. A cooling off is to be expected sooner or later, but the large yacht segment has proven more resilient than others, partly because the loyal clientele is international and less exposed to recessionary economic scenarios. In situations like this, diversification across markets offers an excellent parachute.“
What are the main new developments you are working on for the new year?
“We are very committed to our core business, that of large ships from 60 meters and up, but we are also working hard on the development of the Panorama project and Picchiotti’s new Gentleman’s fleet, which have enabled us to enter the semi-custom segment. In the field of sailing ships, the production of 4 new Perini models is proceeding rapidly, also thanks to the partnership with a big name of the international scenario, Malcom McKeon. We will introduce them with a great event at the beginning of 2023. We are also continuing working on the project of the new Maltese Falcon of which I won’t talk up untill it won’t be ready”.
The issue of sustainability is transforming so many industries. Is boating also coming to terms with this evolution?
“We have long been on a path of sustainable development. The photovoltaic system installed in 2022 in the Marina di Carrara shipyards has already enabled significant green energy production. Upon completion, it will achieve coverage of 25 percent of the site’s energy needs. With reference to production, precisely because of a company policy, we do not process fiberglass, concentrating our production on aluminum.“
Tecnomar for Lamborghini 63. In one hour from Miami to the Bahamas, a fireball that devours sea waves
From Miami it can reach the Bahamas in one hour at a speed of 63 knots. For those more accustomed to asphalt, we are talking about a speed of 116 kilometers per hour. A fireball that devours the waves, as powerful and sporty as the car from which it is inspired. it is the Tacnomar for Lamborghini 63, the innovative motoryacht designed by The Italian Sea Group in collaboration with the Bolognese carmaker, in the wake of a tradition of partnerships with leading brands of luxury and style made in Italy.
“An innovative yacht that has become a futuristic icon” Tisg CEO Giovanni Costantino calls it. A fusion of nautical excellence and the power of a supercar, which is proving to be perfect for intercepting a market with excellent growth prospects such as that of the United States, where The Italian Sea Group opened its first flagship store in East Hampton, Long Island, a reference point for boating on the American East Coast, in the summer.
And it was in the USA, more precisely in Miami, that the Italian nautical giant delivered the first Tecnomar for Lamborghini 63 in September, consolidating the relationship with Prestige Marine Imports Lamborghini in Miami, which will guarantee North American shipowners an efficient and specialized after-sales service.
“We are proud to have been the first to deliver this incredible 4,000-horsepower yacht with the unmistakable Lamborgini design that has already conquered South Florida,” says Bratt David, Ceo of Prestige Marine Imports Lamborghini Miami. A commercial success also evidenced by the fact that the next models will go for delivery in the first half of 2024, despite the fact that production is already at full capacity. Just these days, meanwhile, The Italian Sea Group is also supporting Automobili Lamborghini in the prestigious lounge in Doha, which can be visited until December 18 by invitation only, and which will offer the group the opportunity to get in touch with exclusive shipowners arriving in the Qatari capital to get to know the “Lamborghini world.”
The market: Elegance and product performance captivate shipowners halfway around the world
From the shores of the United States to the glittering shores of the Arabian Peninsula. These are the main markets in which The Italian Sea Group has embarked on a commercial expansion plan, in search of new and potential owners won over by the elegance, modernity and performance of the super yachts designed in the Marina di Carrara shipyards.
Part of this strategy is the recent debut in Dubai of the motoryacht Viktoriia, the first Tecnomar EVO 120, which landed at the Dubai international marine club in early December. Characterized by automotive inspiration, with a sleek silhouette and ultra-modern styling, the EVO 120 immediately caught the attention of a city that has made technological avant-garde its hallmark, going on to reinforce the commercial expansion plan on the Persian Gulf coast, already launched at the beginning of the season by the partnership with Blackorange Superyacht Experts, a full-service yacht brokerage company, as well as with the presence of the Tecnomar brand in the Automobili Lamborghini lounge in Doha.
“We are thrilled with the commercial response that our yachts are getting in this region,” comments The Italian Sea Group’s number one Giovanni Costantino. “Our presence in the Middle East is establishing itself as quickly as in the United States“.
After all, it is precisely from the American market that one of the main orders in the field of large yachts has come. It is the 82-meter Admiral Galileo, sold in December 2021 through the U.S. broker FGI Yachts and due for delivery in 2025, whose keel laying was announced in early October. Designed by The Italian Sea Group’s Centro Stile in collaboration with Bannenberg Rowell Design, the Galileo can accommodate 12 guests and 28 crew members, with lounges of more than 100 square meters on each of the four decks, a cinema, gym, spa, massage area, and even a waterfall that connects two of the four pools on board.
A dream ship that consolidates the group’s role as a global player in the field of entirely custom-made mega yachts, called upon to meet the demands of a demanding clientele unwilling to compromise.
Incoming fleet of maxi sailing yachts. A grand relaunch of the historic Viareggio-based Perini brand is planned for February
he presentation of the new Perini Navi fleet, with which the new ownership of The Italian Sea Group plans to relaunch the historic Viareggio-based brand of large sailing yachts in grand style, is scheduled for February.
It will be a fleet from 47 to 74 meters, innovative from a stylistic and sailing point of view and perfectly in line with the sustainability project launched by the group. Starting point and reference model for the new fleet will be the 56-meter Ketch, for which Tisg announced a few weeks ago a collaboration with Malcom Mc-Keon Yacht Design, a leader in the design of large sailing yachts. It is a partnership that aims to preserve some of the most recognizable stylistic features of Perini design, while reinterpreting them in a modern key with a layout featuring soft, natural lines, large open spaces and large windows to encourage natural light. The carbon sail plan will ensure comfort and sailing performance thanks to the use of Perini Navi’s “sail handling system,” with concentrated and power-assisted maneuvering in the two command stations on the flybridge.
“We have created a highly specialized technical team in sail yacht design that is working hard on all Perini production,” says Giovanni Costantino, founder and CEO of The Italian Sea Group. “In early 2023 we will also unveil the new Maltese Falcon, which will be as iconic and innovative in aesthetics and technology as the first one was, some 15 years ago, but in a highly environmentally sustainable version.”
Moreover, the new Perini fleet is linked to the production development plan of the Viareggio shipyards, where the new ownership immediately reactivated production of the 60-meter superyacht Katana and where the refit of the famous 53-meter sailing yacht Jasali II, launched in 1998 and among the most iconic of the Perini Navi fleet, will continue until April.The shipyard has returned to Viareggio for a general overhaul and redesign of the exterior. Soon, however, the Viareggio location will also see the return of the Picchiotti Yacht brand, a timeless name in Italian seafaring, first mentioned in a document from 1575, in which the Picchiotti family is reported to have specialized in building riverboats in Limite sull’Arno. From those early workboats to ocean-going sailing ships, passing through military orders at the turn of the nineteenth and twentieth centuries, the brand’s history has come down to the pioneering years of the first pleasure yachts after World War II. And it is precisely the golden years of 1960s yachting that inspired the new “Gentleman’s Yacht” fleet presented by The Italian Sea Group. A fleet of four semi-custom motoryachts from 24 to 55 meters, with classic lines and elegant silhouette inspired by the American yachts of the time, created together with Luca Dini design & Architecture and with the participation of Kurt Lehman and his Yacht Moments Consultant. Again, the main market will be the Americas, as evidenced by some of the aesthetic details, such as the choice to clad the deckhouse and the interior of the gunwales in mahogany, a material that originated with American culture.
“This new line, clearly inspired by the golden years of post-war yachting, immediately won me over,” says Giovanni Costantino, “because it pays homage to historical models such as Picchiotti’s Giglio or Mistral series, enhancing their stylistic values and sea culture. I am proud to give new voice to a brand that is the heritage of the entire nautical industry, one of the oldest shipyards in the world.“
A project, however, “in strong countertrend, according to Luca Dini, dedicated to those shipowners who are rooted in tradition and the concept of elegant seamanship“.
Made a multipurpose facility of about 300 square meters with more than 150 seats available. The Academy for training students and employees
There is also training among the goals of The Italian Sea Group’s industrial strategy. A concrete commitment, aimed at its employees as well as university students who may one day become one, in the belief that it is up to the business world to weld the last link in the chain that binds education and the world of work.It is with this objective that the group based in Marina di Carrara gave birth in 2021 to its own Academy, created in collaboration with the University of Genoa and the Promostudi Foundation, dedicated to the creation of paths of excellence for the company’s employees and graduating students of the nautical engineering degree courses and the master’s degree coursein Yacht Design.
To host the Academy, The Italian Sea Group has built a 300-square-meter multipurpose facility inside its Viale Colombo headquarters, with more than 150 seats, which in the past two years has already been attended by universities in La Spezia, Trieste and Naples. It was a choice that grew out of the awareness that it is the responsibility of companies to bridge the last mile for undergraduates to finalize their studies and invest in employee training. In fact, the Academy is designed to foster the interchange between universities and the world of work, allowing students and young talents to put their knowledge in ship design and construction into practice by participating in the creation of unique projects.