Ferretti Group signs exclusive license agreement with Wally
Ferretti Group takes the first step towards acquiring Wally by signing an exclusive license agreement…
Ferretti Group has announced that is has signed an exclusive license agreement of the Wally brand. The signing of the license agreement represents the first step towards Ferretti Group acquiring the Wally brand, it further allows the Group to immediately begin working on the development of the brand.
Between 2019-2022, Ferretti Group will invest over €84 million - €70 million in the first two years – in the development of the brand and in the design and construction of new product ranges. The new Wally models with be built at Ferretti Group’s existing facilities, with the yard in Ancona playing host to Wally’s largest projects.
“The has long been a mutual fascination between us and Wally and from today we will continue to develop this extraordinary brand with method, vision, investments and the same energy and creativity that have led Ferretti Group to the top of the yachting world,” comments Alberto Galassi, CEO of Ferretti Group. “As a yachting enthusiast, I’m looking forward to discover the boats that will come from the exclusive collaboration with Luca Bassani: it is easy to foresee that they will push the frontiers of innovation and aesthetics into a new echelon.”
“The market today requires significant investments to develop new products and new markets. Ferretti Group has great industrial, organisational and commercial capabilities and will be able to boost Wally,” comments Luca Bassani, founder of Wally. “I will continue my design and development activity on an exclusive basis, ensuring the continuity of Wally’s DNA. All the years and the effort to build the brand will have a continuation. I could not wish anything better for Wally’s life.”
Thanks to the new license agreement, Wally returns to Boot Düsseldorf, where it hasn’t exhibited since 2004. Wally will be showcasing the first of its new ranges, the 48 Wallytender.
According to The Superyacht Intelligence agency, Ferretti Group has delivered 109 30m-plus superyachts since 2009 with its most prolific years coming in 2011 and 2018 when it delivered 14 vessels. Wally, by comparison, has only managed to deliver eight vessels within the same time period, including four in 2009. Since 2009 Wally has delivered less than one (0.4) vessel a year.
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