Giuseppe Taranto
The Italian Sea Group
Giuseppe Taranto
The Italian Sea Group
Despite the difficulties of the last two years, the yachting industry, and particularly the larger size segment, has shown remarkable resilience to the COVID pandemic.
The typical clientele for our sector consists of Ultra High Net Worth Individuals who are less impacted by economic shocks and, indeed, have become more interested in the purchase of yachts as a “safe island” on the sea.
Looking forward, the macro-economic scenario is dominated by uncertainty over the pandemic and its impact on the industrial sector, as well as the Russia Ukraine conflict.
However, we do not foresee a slowdown in the yachting sector any time soon. Rather, we see demand shifting in terms of the geographic location of the owners in the current geopolitical and macro-economic context. This is especially the case for yachts over 50 metres. There is increasing demand for our yachts, especially from the Americas, the Middle East, Asia and Australia, and
the Group has strengthened its brands’ position in all these markets.
The Italian Sea Group currently has the fourth largest yacht orderbook in the world, and the largest orderbook among Italy’s yards for yachts over 50 metres. There is undoubtedly growing demand for our core business of superand megayachts. This is especially true for those between 60 and 80 metres, a segment that in the past has fluctuated between 10 and 20 units sold per year. This figure increased by more than 150% in 2021. The 50-60 metre segment has also recorded significant growth, almost doubling by number in 2021 compared to the previous year.
The Group’s key differentiator - along with absolute quality and attention to detail - is design, and the ability to provide customers with never-seenbefore yachts. Our R&D department has developed ground-breaking, futuristic projects that are currently in build and will surely create a stir in the yachting world. We can’t wait to see them hit the water!
We also see very good opportunities for the Group following its recent acquisition of Perini Navi, the world-class sailing superyacht brand, and Picchiotti, the eldest yachting brand in Italy, the roots of which date back as far as 1600.
The relaunch of these two brands and their integration into our diversified, high-end portfolio will enable us to offer a complete product range to our sophisticated clients, who look for the utmost quality, exceptional design and state-of-the-art technology.
We also place enormous importance on R&D. From this standpoint, the yachting industry is generally behind other sectors - for example, the automotive industry - when it comes to finding innovative and sustainable solutions.
There is no doubt that environmental issues are increasingly driving customers’ decisions in all areas, and yachting is no exception. We observe an increasing demand for sustainable materials and
components along with innovative propulsion that might be able to significantly reduce CO2 emissions, thus safeguarding the marine environment.
The Italian Sea Group has always been ahead of the curve in the research of innovative, eco-friendly solutions, starting with hybrid propulsion at a time when it was not widely used.
In 2016 we delivered the Quinta Essentia, a 55 metre Admiral motor yacht with an advanced hybrid propulsion system. Today, half of the superyachts in build at our shipyards feature dieselelectric propulsions.
Sea and nature are at the heart of our industry and we have the duty to preserve and protect them.
Every significant shift towards sustainability starts with awareness, measurement and reporting. As an industry, we need to be aware of our environmental impact to be able to implement action and sustainability plans.
In this vein, the Group is developing projects that will be disclosed shortly, and we are also working on our first sustainability report which will be published next year.
The Italian Sea Group’s decision to go public in 2021, with its subsequent listing on Euronext Milan stock exchange in June last year, will further push the group’s ability to grow and promote exciting new products.
Building a yacht is always a collaborative effort, and the specific knowledge brought by every individual in the process is key to success.
Our longstanding relationship with RINA has allowed us to build state-ofthe-art yachts with the highest level of quality, efficiency and performance, while simultaneously complying with all mandatory regulations.
I believe the lessons we have learned from the past couple of years are that the real luxury is spending time with your loved ones - safely and comfortably, while respecting nature. And that, in my opinion, is what the yacht of the future must offer.
BIOGRAPHY
Giuseppe Taranto was born in 1969. He is currently the Vice President and Chief Commercial Officer of The Italian Sea Group. He started his career at the Italian furniture company Natuzzi Group and spent ten years growing the company’s international business. In 2009, he joined Tecnomar S.p.A. as General Manager, starting a long and close professional collaboration with the Founder & Chief Executive Officer of The Italian Sea Group, Giovanni Costantino. In 2010, Giuseppe was appointed CEO of Tecnomar S.p.A. and subsequently became General Manager of The Italian Sea Group and Director and CEO of Nuovi Cantieri Apuania S.p.A.. In 2016, he was appointed Vice President and took up his current position as Chief Commercial Office in 2018.
