TURNING BACK THE CLOCK Advances in technology and design may be the hallmarks of new superyachts, but increasingly some yachtbuilders in the Ferretti Group portfolio are also looking back to their classic designs for contemporary inspiration. By Cornelia Marioglou Alberto Galassi, CEO of the Ferretti Group, is known as a motivator, a daring, restless innovator who has turned around the struggling firm he inherited in 2014 into the thriving conglomerate that we see today. He’s a man who clearly looks to the future but also has an eye on the past. The Ferretti Group incorporates storied brands such as the eponymous yachtbuilders, Wally, CRN, Pershing, Itama, Custom Line, and Riva. It is the latter of these that particularly drove Galassi’s love of yachting. “If your father bought a Riva in 1974 and you still keep it in the museum in Sarnico, how can you not love Riva? I always said that from the beginning, if Riva was not a brand of the Ferretti Group, most likely I wouldn’t be here. I was a client way before thinking of becoming a CEO of the company,” he says. That history has driven a recent initiative – the RAM Riva Classiche. Galassi explains: “The privilege of having a brand like Riva is a privilege like having the brand Ferrari [of which he has several, including 94
Riva is a national treasure, it belongs to Italia – and not only Italia, but to the world. My job is to preserve and keep it, improve it, to preserve the integrity of the Riva brand classical historical models]. They are known everywhere in the world; they have a lot of tradition, a long heritage. That’s why we decided to establish Riva Classiche, which is a restoration programme and a certification programme for old wooden Rivas. And it was not only wooden yachts that came out of the factory in Sarnico [the shipyard most synonymous with Riva] from the 1950s to the 1990s, but also a new material – fibreglass. Now they can be brought back to the same factory in Sarnico to get original spare parts and certification of origin and authenticity.” In 2022, Riva marked 180 years since its foundation and also 60 years of its iconic Aquarama with the release of the Riva Anniversario. Only 18 were produced – one for each decade – and they were quickly sold. One was particularly important for a special reason. “All the proceeds of the Riva Anniversario No 18, the last of the series, were donated to David Beckham’s 7 Fund for UNICEF – we did not keep a single penny”, explains Galassi. “The new owner will collect a piece of art that will raise the value in the future while also performing well.” The concept of yachts as works of art resonates strongly with Galassi. Among his many interests – which include contemporary art and music – he has a collection of Rolex watches. “My collection consists of vintage Rolex Daytonas and I built this collection in 35 to 40 years,” Galassi says. “I bought the Rolex Paul Newman when nobody wanted it. The prices for Rolex went crazy; it is an object of desire and speculation. I believe that this is the same for cars already, and for boats – it starts now.” For Ferretti, this means more than just Riva Classiche, and there are themes going through its brands that stay true to a common concept – which Galassi intends to build on. “Riva will also do other limited editions; Wally, too,” he says. “And I think some ‘Itamista’, very purist owners, change their boat after 10 or 15 years and will buy exactly the same model again, so we also have plans for them. Pershing will celebrate its 40th anniversary in 2025. This brand has a number of collectors – tifosi – that also deserve a celebration edition.” Of his many “children”, Galassi is particularly keen to take Itama to a wider audience. “Itama is a fantastic brand, but very local. I want to make it global,” he says. Yet despite this international approach, the beating heart of Ferretti – and Galassi’s philosophy – is still very much in its home country. “Riva is a national treasure, it belongs to Italia – and not only Italia, but to the world. My job is to preserve and keep it, improve it, to preserve the integrity of the Riva brand,” he says. And when conjuring up the image of a classic yacht, the mind surely wanders to Italia, time and time again. 95
