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How Tecnomar and The Italian Sea Group Are Changing The Yachting Industry

Yacht

Tecnomar has its roots in Viareggio, Italy, and started in 1987. The company started building boats at no more than 20 meters as well as yachts were sought after for their innovation as well as sportiness. As production increased they moved production to Massea Carrea. Today, The Italian Sea Group, the parent company of Tecnomar is located in Marina di Carrara Italy. The company's headquarters is massive. It boasts 100 square meters which includes eleven production locations. Additionally, you'll find a 200-meter dry dock and a 2000-meter berth. Alongside this, there is also a 3300-ton floating barge used for yachts up to 100 meters. These types of figures are one of the reasons Tecnomar stands out. However, even though the company is massive it stays close to its Italian roots. Alongside the yacht builders and CEOS, there are areas devoted to all aspects of the building process as well as an area on the campus devoted to local products available to employees as well as people considering purchasing one of the luxury vessels.

In an article originally posted in Women's World Daily, Giorgio Armani is quoted as saying "how can you not love the sea! I knew it only as a child from the shore because we were in times of war, but when it was possible for me, as an adult, I really experienced it and I realized that a boat trip, by sea, is one of the most desirable things in the world." He was enchanted by the sea, so it's fitting he would sponsor the 15th Yacht Club Costa Smeralda from May 31 to June 4 in Sardinian Costa Smeralda on the Emerald Coast. The world-renowned designer has organized the event for almost two decades. Recently, Armani collaborated with the Italian Sea Group on a personal project. Additionally, he is now a shareholder after the company went public in 2021. One of the brands that The Italian Sea Group operates is Tecnomar, and they are changing the yachting industry. Since the early 2000s, the shipyard has met and exceeded the daunting task of building luxury vessels for yacht owners around the world. Let's take a lot at how The Italian Sea Group and Tecnomar are reshaping the high seas.

Investors

Almost a year ago, Armani's investment group now has partial ownership of The Italian Yacht Group and Tecnomar. According to The Robb Report, alongside the fashion designer is Omega Pharma head Marc Coucke. They were some of the initial investments after the yacht company went public on the Milan Stock Exchange. The two are not investing together and the exact investment amounts were not disclosed. However, it's estimated that between Giorgio Armani SpA and Coucke's family, they will have a total of 15% of the company. The company's shares top $61 million dollars in the IPO. The holding company, GC Holding SpA will be releasing some of its existing shares. However, the company's CEO and founder Giovanni Constantino, and via extension GC Holding will retain majority ownership. Money raised will be used to increase the size of the vessels to 328 feet as well as increase the production facility. Additionally, there are plans to add production locations in other European cities. The Italian Sea Group also added Pereni Navi, another yacht firm that was in receivership.

Acquisitions

On December 22, 2021, The Italian Sea Group was acquired for $90.6 million dollars. The acquisition cost is almost double what the opening bid for the company was. Perini Navi after a bankruptcy court found the company insolvent. The purchase includes shipyards in Viareggio and La Spezia, Italy, and another facility in Pisa. Perini Navi USA also has its trademarks and patents. At the time of bankruptcy, they were also working on a project called no. 2369, an incomplete super yacht. This wasn't the first time the company was on the auction block since the auctioneers wanted to get the highest value for the business to recoup some of the accrued debt. There were a myriad of reasons why The Italian Sea Group was so interested in Perini Navi. For starters, many of the yachts built by the latter were repaired at shipyards run by the former so they were already familiar with the mechanics. Moreover, the additional port space will almost double the capacity for refitting areas. As of April 22, 2022, operations for Perini Navi officially reopened its doors at the Viareggio and La Spezia.

The Italian Sea Group confirmed that they would maintain the company's original style and keep manufacturing yachts of greater size than the Tecnomar yachts. Although the company will maintain the more traditional look of the yachts, cutting-edge technology will not be compromised. Currently, three yachts are in production. The first, a 60-meter ketch is expected in the later months of 2023. Following this model will be the 47-meter sloop slated for launch in the early part of 2024. The last model is the 56-meter ketch which The Italian Sea Group and Perini Navi expect to set sail in late 2024. There are several advancements that consumers can expect. First, carbon will be used for portions of the vessel outside the 63.5-meter mast and boom. The 47-meter yacht will also have a fly-by-wire system fitted with twin rudders to aid in maneuverability no matter how fast it is traveling.

Tecnomar For Lamborghni 63

In July 2021 two iconic Italian brands teamed up for the height of luxury. The vessel was built to celebrate 1963, the year Ferruccio Lamborghini founded the car company. Initial ideas came from several sources. One of them was Lamborghini's Centro Stile, something introduced in 2004. According to Lamborghini, it is a collaboration of innovative designers and engineers who collaborate with the Technical Office to strike the right note between craftsmanship and technology; much like The Italian Sea Group. The second source of inspiration was the Lamborghini Sian FKP 37 which was a turning point in the auto manufacturers' technology and set the precedent for many vehicle models to follow. When looking at the Sian FKP 37 it's hard to miss the aerodynamic lines and the modern classiness. Once you open the door you see that all the attention on the outside of the vehicle reached the interior.

It's a 12-cylinder vehicle with a maximum speed of 217 miles. Pulling from these two sources, there were a lot of amazing design features to work with and the Tecnomar for Lamborghini 63 doesn't disappoint. There are two MAN V 12 - 2000HP engines that propel the vessel to a maximum speed of sixty knots. At 3945 horsepower, it is the swiftest of the Tecnomar yachts. The speed is packed in a sleek, seaworthy body. The yacht exterior is carbon fiber which you would most commonly find in Sant'Agata Bolognese vehicles. Utilizing this ensures that the yacht will remain in the ultralight boat range; weighing in at 24 tons across 63 feet.

Overcoming Adversity

In 2021, shortly after listing on the Milan Stock Exchange, a corporate scandal rocked The Italian Sea Group. TSI Asia in Hong Kong alleged that the company committed fraud while selling several yachts. They went on to say that this is not the first time something like this has happened within the company. According to Crime Exposure, another allegation is that it isn't The Italian Sea Group that owns the company but instead the people who purchase the yachts. Sadly, this isn't the first time that the company has been in the news. Several of Tecnomar's yachts caught fire in multiple countries including Greece and China. No stranger to things like this happening, the company moved forward and turned another cementing its position in the yacht industry.

Partnerships

This month, a TWW, a yacht broker whose company originates in Monaco. Co-managing partner, David Westwood is eager to see where the partnership goes. He feels that Tecnomar has been reshaping the quality standards of the yachting industry. Moreover, they have made huge leaps in the media arena with a dramatic increase in sales. In fact, The Italian Sea Group is regarded as the yachting global leader. Westwood hopes that TWW can add additional sales expertise as construction techniques to help propel the company forward. According to Super Yachts, the brokerage company will start with three yachts from The Italian Sea Group including Tecnomars EVO 120. One of the things that makes this model such stand out is that its seamlessness merges style and safety. When looking at it, you will certainly see is that it is a sporting yacht measuring 37 meters. The exterior was designed by the architect Gian Marco Campanino. The yacht has a maximum capacity of ten passengers and there are up to five cabins for them to relax onboard. The EVO 120 can go to 21 knots and has a cruising speed of 19 knots.

Shipyard Mysteries

Since The Italian Sea Group is so well regarded, it makes sense there may be some mysteries that pop up once in a while. Currently, there is a $700 million dollar superyacht that is rumored to belong to Vladimir Putin. Massa is a town near Tuscany. There is a vessel in one of the dry docks called the Scheherazade which is almost 150 meters long and is currently being investigated by the Italian police who are trying to find links to the Putin.

New Models

On April 5, 2022, Yacht Harbour announced the latest offering from Tecnomar. The 34-meter-long Evo 120 known as La Vie is available for sale through Rolf Smith, a Yacht Broker in Northrop & Johnson. Much like her predecessors, she features the sleek lines Tecnomar yachts are known for as well as the impressive attention to detail. However, this model also takes the company's technology as well as style to the next level. There is a beautiful outdoor area on the aft deck with a bar front and center. There is room for 10 guests as well as five cabins where they can relax. One of these compartments is a bedroom and attached personal lounge. Aside from the beautiful design features the vessel is built with many cutting-edge advancements. The hull is constructed out of aluminum alloy and the main engines are 2 X MTU 12V2000 M96L. The yacht has a maximum speed of 22 knots and has an average cruising speed of 20 knots.

Final Words

Coco Chanel once said, "luxury must be comfortable, otherwise it is not luxury." Looking at Tecnomar's creative strategy, there is little to no chance of not being comfortable in one of The Italian Sea Group's yachts. Their website boasts "an infinite selection of precious woods, precious marbles, refined fabrics, super soft leathers, and luxury accesories." Tecnomar feels that this is the start of how to help their customers find a sanctuary at sea. Over the company's storied career, they have launched twenty-four yachts each more stunning than the last. The Italian Sea Group constructed almost 200 yachts in 1963. Each of their eight models is a technological marvel that will give its owners years of elegant experiences on the ocean. To date, almost 300 yachts have been delivered. Although the company has met with ups and downs they have maintained their position as one of the most powerful yacht manufacturers in the world. Certainly, if one is looking for luxurious yachts with technology that is some of the most advanced in the world, the Italian Sea Group and Tecnomar are the places to search. Although, you can enjoy the sea in a smaller vessel, for unparalleled standards there isn't a company that exceeds high standards for their models. Regardless of anything negative, the companies will always be synonymous with luxury.

Allen Lee

Written by Allen Lee

Allen Lee is a Toronto-based freelance writer who studied business in school but has since turned to other pursuits. He spends more time than is perhaps wise with his eyes fixed on a screen either reading history books, keeping up with international news, or playing the latest releases on the Steam platform, which serve as the subject matter for much of his writing output. Currently, Lee is practicing the smidgen of Chinese that he picked up while visiting the Chinese mainland in hopes of someday being able to read certain historical texts in their original language.

Read more posts by Allen Lee

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