Although the deal will initially facilitate the construction of composite vessels up to 27m, Mondo Marine’s co-owners, Alessandro Falciai and Roberto Zambrini have identified China as ‘one of the future markets, not only for small and mid-sized yachts, but also for megayachts.’ It will also allow Chinese buyers to circumvent the prohibitive luxury tax that accompanies foreign yacht imports.
The yard, established in 2007, is based in Jiangsu province and has previously built yachts up to 19m. Mondo Marine’s investment will, in all likelihood, include support and advice as the yard steps up in size capabilities.
Commenting on the potential of the Chinese market, Falciai said, “we believed that this collaboration will bring a truly Italian luxury lifestyle experience to the market. The owners will be those willing to buy a craft of creativity and quality.”
Chinese companies have been in the press in recent years for buying into existing yachting brands, but it is less common to see investments moving in the other direction.
Whilst nudging the lower echelons of ‘superyacht’ status, the vessel is Brazilian owned and set to be the largest vessel on display at the event. According to a statement issued to the media by Benetti, ‘it effectively, and in great style, conveys the message to Brazilian yacht owners that the Benetti brand is available in their country.’
And because the ‘construction length’ is under 24m, Benetti claims it can still market the yacht as a pleasure vessel, helping to circumvent Brazil’s protectionist stance on superyachts.