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Haute Living
Los Angeles
March/April 2012
Yachtmaker Ferretti Finds Salvation In China
Photo: Reuters
In a time of financial crisis, prospective customers of luxury yachts no longer feel filthy rich. The solution if you’re luxury yachtmaker Ferretti? Let a Chinese company buy you. Not only is China minting brand-new millionaires daily, but the company that is taking control of its restructuring, Shandong Heavy Industry Group-Weichai Group, already makes marine engines.
The Chinese are paying 178 million euros for 75 perfect of Ferretti’s equity. Ferretti isn’t the first distressed brand to find solice in Chinese hands.
Let’s raise a glass to China for making sure that the world isn’t short on its luxury water taxis.
Source: Reuters
Jan 26, 2012 9:23 AM
Read 67 Times
Debt-laden Italian luxury yacht maker Ferretti was just bought by machinery maker Shandong Heavy Industry Group. The Chinese company just penned a deal this week to acquire a 75% stake in the luxury yacht company.
Ferretti has just launched the latest Custom Line 112 superyacht series for wealthy Chinese owners. Hull 28 of the Custom Line 112 Next series was debuted at Ferretti’s Ancona yard during a private ceremony.
Dartz, a Latvian automaker known for its outstanding, personalized, armored cars, is making a special version of its Prombron SUV in celebration of the Chinese New Year
Howard Schultz, Starbucks CEO, recently announced that China is set to become the company’s largest market outside of the U.S. Starbucks has more than 500 locations in China catering to the specific market by introducing products that appeal to local tastes.
China is competing with India to have the world's biggest gold market in 2012 as it slowly emerges as the new superpower in the international gold industry.
With China's booming economy, it's no wonder it's the world's largest market for luxury goods, and that includes luxury timepieces, according to the China top Wristwatch Report.
Despite a continuously growing demand for luxury items in China, high-end brands are having a hard time keeping up because there is a shortage of prime real estate in the nation.
Luxury shoppers in China are pushing their nation to the top once again as China is set to overtake Japan this year to be the country with the biggest appetite for luxury goods. China’s consumers are expected to keep spending, even if their affluent counterparts in the West don’t.
Today, De Beers Diamond Jewelers has expanded its market by opening its first outpost in Mainland China. Known as the quintessential diamond jeweler that is independently managed and operated by LVMH Moet Hennessy Louis Vuitton, the brand has opened a 734-square-foot store at Shin Kong Place in Beij...
The Hainan Rendez-Vous Boat Show in Sanya, China will take place April 5-8 with a fleet of 130 yachts including more than ten measuring in at 40 meters or more.
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March/April 2012
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