Il Messaggero – TISG, the leader of mega yachts challenges its rivals from Northern Europe
15th December 2023
Yachting and Luxury, a couple that sparks
We don’t talk about it much, but in Italy there is a happy island called yachting.
It is an industrial sector also strongly linked to craftsmanship which has recorded constant growth for eight years. It also went through the upheaval of the pandemic unscathed, increasing production, sales, exports, employment, turnover, as illustrated by the Boating Economic Forecast, the most recent edition of Nautica in figures, the statistical yearbook created by the Confindustria Nautica Research Office in partnership with the Edison Foundation and with the patronage of the Ministry of Infrastructure and Transport.
In short, a “certified” boom to be proud of, even if in our country, immersed like a large pier in the Mediterranean, sufficient attention has never been paid, until now, to the extraordinary potential of the sea economy and to boat manufacturers : an army of courageous and enlightened entrepreneurs, in many cases capable of linking historical traditions with the innovation imposed by the times, especially in matters of style and environmental sustainability.
The discussion also includes strategic alliances, the ability to attract foreign capital, to be listed on the stock exchange and, in many cases, to be looking for new spaces for production (and the employment of personnel) along the coasts and in the hinterland. . As in the case of TISG (The Italian Sea Group), which has made growth the leitmotif of its activities (read about it on this same page), aiming ever higher.
There was proof of this at the last Monaco Yacht Show, where the founder and CEO Giovanni Costantino illustrated the development strategy (new acquisitions, new yachts, new agreements with masters of design such as Fuksas and Luca Dini).
«The Company boasts an order book of over one billion euros, with broad visibility of the business for the coming years thanks to its very high market positioning and a diversified and complete offering. The strength of the Group’s brands and the growing demand – underlined the manager – translate into a phase of important development which allows us to reiterate the 2023 guidance in the highest part of the range of values and to confirm the strategic outlook for 2024″ .
Not bad for a young group like The Italian Sea Group. But how do you explain this non-stop success?
«With commitment and responsibility – says Costantino – We have over 650 employees in Italy on our payroll, a capacity of 1500 people also in Italy, plus the same number in Turkey. And then there is moral responsibility. I feel it, and like me, I’m sure, the other protagonists of this world that is not sufficiently understood and appreciated by everyone also feel it. I consider people like the Vitelli of Azimut-Benetti, Alberto Galassi of Ferretti Group, or Massimo Perotti of Sanlorenzo as authentic masters of the sector, world-class leaders, managers perhaps appreciated more abroad than in Italy”.
A warning to the political palaces? Costantino does not say it, but there is no doubt that the entire yachting world has always complained about the difficulties of dialogue with political power. To tell the truth, the provisions of the “yachting package” contained in the Made in Italy bill were recently approved by the Chamber, which will now have to be examined by the Senate. A sign of attention that follows the participation of seven ministers and Prime Minister Giorgia Meloni at the Genoa Motor Show, where if not a love, then a “demonstration of interest” towards a sector objectively full of glory seemed to blossom. Nonetheless, there is no lack of prudence and even distrust on the part of the protagonists of the boom.
In fact, relations with the Palace are still burdened by the memory of the collapse caused in 2012 by the Monti government. «We are the only ones – the president of Confindustria Nautica Saverio Cecchi has recalled several times – who never ask the State for money, yet we were ruined by the decisions of that executive, which caused the flight of 40,000 boats from Italy. That was the sign of an ideological prejudice towards our sector, and now we must hope that someone doesn’t wake up ready to invent something else against us.“
When we talk about great yachting, our thoughts turn to historical names, in some cases with over a hundred-year tradition.
But the most beautiful fleet in the world also includes, with special merits, The Italian Sea Group, the youngest of all, active in the construction and refit of motor, sailing yachts and ships up to 140 metres. The holding led by entrepreneur Giovanni Costantino has grown at a rapid pace, dealing with yachts destined for the international market, launched under the brands Admiral, Tecnomar and, since December 2021, also Picchiotti and Perini Navi, the most prestigious name in Italian sailing , taken away – after bankruptcy – from the competition of Ferretti Group and Sanlorenzo.
Operating in a location with infrastructures unique in the world, TISG has earned – according to the Global Order Book 2023 – the role of the first Italian builder of yachts over 50 metres, capable of keeping up with the largest shipyards in Northern Europe.
Since 2021 the Group has also been listed on the stock exchange and the data for the first 9 months of 2023 indicate revenues of 262.2 million euros, an increase of 25%.
Among the initiatives undertaken, the partnerships with luxury brands such as Lamborghini and Giorgio Armani have produced excellent results: having entered into the capital, the most famous designer of Made in Italy signed the entire design of the mega yacht Admiral 72 (under construction) and worked on the interiors of one of the six masterpieces presented at the Monaco Yacht Show.
After the restructuring of the yards in Viareggio and La Spezia, the investment approved in 2022 of 68 million euros over three years was allocated to the production capacity of the headquarters in Marina di Carrara, but the expansion plan also included the acquisition of the historic Celi cabinet making.
Terni-based company intended to increase production capacity through the merger of two new sites and the hiring of staff, with the task of providing for the creation of luxury interiors and furnishings, but not only that: in fact, the plans include intention to expand the business by also entering high-end construction and luxury hotels.
“This acquisition represents a strategic opportunity that offers growth opportunities around the world, from Miami to Dubai.” If that wasn’t enough, the CEO of TISG says he is certain that “the redevelopment of the Celi brand and its production areas will give added value to the city of Terni, consistently with the commitment to sustainability“.
A front, this one of environmental protection, which sees TISG at the forefront.
But the highlight of the innovation lies in the decision to also dedicate itself to the production of catamarans: one sailing, with the Perini brand, the other motor, branded Tecnomar.
The first, named Artexplorer, is the largest aluminum sailing catamaran in the world (47 x 17.30 metres), which before being used in the charter will play the role of a “traveling art gallery to spread artistic and environmental culture“; the other (43.5 meters x 14.5), named This is it, challenges conventions with a bold design and the ability to establish new parameters in terms of hydrodynamics and quality of life on board.