Giovanni Costantino to Corriere L’Economia – Archistar & zero impact

Archistar & zero impact, Superyachts towards 400 million

by Maria Elena Viggiano

Giovanni Costantino Founder & CEO of The Italian Sea Group, tells Corriere della Sera about the acquisitions, the investments in green innovation to reduce emissions and the partnerships with international designers.

«I am inspired by the big names of the Italian tradition of the sector», says CEO Costantino.

A new phase begins for the Group to stabilize the results obtained especially in the last three years, including the listing.

Giovanni Costantino, The Italian Sea Group

Our yachts communicate Italian style, detail, elegance, technical and stylistic innovation for the benefit of the environment

«Our philosophy is to represent quality and culture – says Giovanni Costantino, Founder and CEO of The Italian Sea Group, a global luxury yachting operator. We don’t develop new yachts just because they are revenue opportunities. They have to communicate Italian style, detail, elegance, technical and stylistic innovation for the benefit of the environment. It is our mission.” Over the last decade the group has undertaken a series of investments following “a clear vision that I have carried forward with determination, work and sacrifice“.

The results speak for themselves

The results were not lacking. The data just published indicates that in the first nine months of 2023 revenues amounted to 262.2 million euros, up 25% compared to 210.3 million euros in the same period of 2022.

400 million revenue target for 2024

Furthermore, the Group confirmed its 2024 strategic outlook which foresees revenues of between 400 and 420 million euros.

Italian Inspiration

«Italy is fortunate to have Paolo Vitelli of Azimut Benetti, Alberto Galassi of the Ferretti Group, Massimo Perotti of Sanlorenzo. Three great men and entrepreneurs who made the country’s nautical history. I was inspired by them in my career.” And he adds that «for Italy the nautical sector has always been extremely important. Today we have an interesting and lively demand but the entrepreneurs in the sector have such expertise that they will be able to react well in the face of a possible and physiological slowdown”.

The Group’s brands

The Group, headed by Giovanni Costantino, is specialized in shipbuilding, design, production and sale of high-end vessels up to 140 meters and in the refitting, repair and maintenance of superyachts and both motor and sailing yachts with a focus on dimensions over 60 metres.

In recent years a series of acquisitions has characterized the group’s activity:

Tecnomar, 2009, to produce and market steel and aluminum yachts up to 50 metres.

Admiral, 2011, to build superyachts over 50 metres.

Perini Navi, in 2021, world leader in the construction of large sailing ships for over thirty years and Picchiotti Yacht (acquired in the nineties by Perini Navi), one of the oldest brands in Italian shipbuilding, born in 1600 in Limite sull ‘Arno.

Celi, in 2023, cabinetmaker, founded in 1920 and specialized in luxury interiors.

«The acquisition of Perini Navi was a battle, in a good way, with Ferretti and Sanlorenzo, in these two years we have developed a new fleet», explains Costantino.

2 Perini Navi Ketches under construction

A 60-metre ketch is also being built, to be delivered at the end of 2024. And a 56-metre ketch to be delivered in 2025.

«We try to give prestige to a historic Italian brand born from the tenacity, intuition and genius of Fabio Perini», continues the CEO.

The Success of ArtExplorer at Monaco Yacht Show 2023

On the occasion of the Monaco Yacht Show 2023, “ArtExplorer” was presented. The largest aluminum sailing catamaran in the world, 47 meters long with a 55 meter mast. The interiors and the exteriors have been designed entirely by the architect Axel De Beaufort. The naval architecture is by Guillaume Verdier.

Art Explorer: a green traveling art gallery

Starting from January and for the next two years, the ArtExplorer sailing catamaran will travel the world, «as a traveling art gallery, technologically advanced and totally green to spread artistic and environmental culture».

World-class partnerships

The Group has always created partnerships with international star architects and designers.

«We aim for a high level not only in the technological and mechanical part but also in the stylistic and architectural design».

The collaboration with Studio Fuksas and Luca Dini Design & Architecture for an 80m mega yacht

Hence the collaboration with Studio Fuksas and Luca Dini Design & Architecture for the creation of an 80 meter mega yacht. Her design inspired by nature, in particular the marine ecosystem.

«It is Fuksas’s first exploration into the nautical sector, it will be stimulating and interesting for both of us», explains the CEO.

Giovanni Costantino: Sustainability at the Center

One of the current challenges is sustainability. «Our commitment is 360° with a very ambitious and challenging roadmap. We have obtained an ESG rating in the high performance range from Cerved Rating Agency. Next year we will move to an even more important positioning.”

Completed the installation of the photovoltaic panels

The Group is able to satisfy most of its energy needs thanks to the self-production of green energy. Through the installation of photovoltaic systems on the sheds of the Marina di Carrara and La Spezia shipyards. And purchases 100% of the residual energy for the needs of the Marina di Carrara headquarters from renewable sources.

M/Y Admiral Kenshō the green superyacht

«With regards to emissions at sea and into the atmosphere, our journey began in 2016. We are doing a great job on the safety and reliability of our yachts not only in terms of product but also on the production process to avoid emissions in all stages of production”. The Admiral Kenshō, which has received numerous awards, “has an innovative advanced diesel-electric propulsion system with near-zero emissions.” Possible results thanks to «a well-structured research and development area in which numerous engineers and experts collaborate. 1% of our revenues, around three and a half million this year, are allocated to this sector. The results don’t come for free.”

A stabilization phase for Giovanni Costantino’s Group

For the group a new phase now begins «to stabilize the results obtained especially in the last three years, including the listing. We have completed a cycle, we will trace the new path for the next decade starting from 2024″, comments the CEO.