Ferretti, the Italian luxury yacht builder, is turning to the new super rich of Brazil as sales have slumped to its traditional “old economy” customers in the marinas of the Mediterranean.
The company plans to boost its Brazilian workforce from 600 to 1,000 and increase sales by up to 15 per cent annually during the next three to four years, chief executive Giancarlo Galeone told the Financial Times.
Brazil is fast becoming one of the top new investment destinations for the yachting industry thanks to surging salaries, the country’s 7,400km of coastline and year-round warm weather.
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