Archive for » October 3rd, 2017«

Boat Show Eurasia opens in Istanbul, eyes TL 200M in sales

Some 255 vessels worth more than TL 430 million ($120 million) will find their buyers at International Boat Show Eurasia at Istanbul’s Tuzla Viaport Marina today.

Over 5,200 foreign visitors, including businesspeople, bureaucrats and members of the trade and maritime chambers are expected to participate in this year’s fair that has set a sales target of around TL 200 million.

The fair will showcase a collection of multi-million dollar, award-winning boats, yachts and other maritime vehicles, designed by the world’s top names.

Expected to attract more than 50,000 visitors including 7,000 from 25 different countries, International Boat Show Eurasia is set to become the biggest exhibition ever held on water in Turkey.

Meanwhile, amid the growing demand for more affordable vessels in Turkey, the show will offer a more diverse range of choices this year, also hosting financial organizations that specialize in payment options, bank loans and leasing opportunities, for interested buyers.

The event will feature vessels priced as low as TL 45,000 ($12,544), including the 44-meter-long Cyclone, priced at a novel 14 million euros. Built by Riza Tansu, the super-yacht features private cabins and a specially designed deck.

In addition to the exhibitions, International Boat Show Eurasia will also host fun and educational events every day. A total of 25 exclusive boats and yachts will be on exhibit for the first time and potential boat owners an opportunity to test their boats on the sea. With more award-winning vessels from Turkey, this year’s show has set a sales target of TL 200 million ($55.76 million).


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NauticStar Boats acquired for nearly $80M

in Economic Development, NEWS

October 3, 2017

NauticStar manufactures and distributes 18- to 28-foot, bay boats, deck boats and offshore center console boats.

NauticStar owner and founder Phillip M. Faulkner said “MasterCraft is an iconic brand known for quality, performance and innovation. Our entire organization is excited to join their team, and leverage their experience and operational know-how to further grow NauticStar. This is a great opportunity for all of our employees, as well as customers and dealer partners.”

According to Tennesee-based MasterCraft, the deal “unites two leading, and complementary boating brands” as NauticStar’s portfolio “adds to MasterCraft’s product diversity.”

NauticStar’s operations will remain in Amory, MasterCraft said.

With the acquisition, MasterCraft also gets a presence in salt water fishing and outboard propulsion, two of the fastest growing segments in the $40 billion boating industry.

Founded in 2002, NauticStar is privately owned and operated. It employs some 300 people in a 200,000 square-foot manufacturing facility.

NauticStar generated about $63.7 million in sales last year, with expectations of reaching $80 million this year.

MasterCraft said NauticStar “has a reputation for reliability, quality and consistency, with a loyal network of dealers and customers including professional and sport fishermen, and recreational and pleasure boating enthusiasts. NauticStar currently sells its boats in the United States through an established network of approximately 70 dealers.”

Terry McNew, MasterCraft’s President and CEO, said, “NauticStar’s year-over-year unit growth is among the strongest in the 18-28 foot category and demand domestically currently exceeds supply. We look forward to leveraging our industry-leading strengths in operational excellence and financial management to further improve NauticStar’s output, quality and margin as we continue their rapid growth.”

Headquartered in Vonore, Tennessee, MCBC Holdings Inc. is the parent company of MasterCraft Boat Co. Founded in 1968, MasterCraft builds ski, wakeboard, wakesurf and luxury performance powerboats.

Added McNew, “As a combined organization, we have the resources and experience to greatly expand NauticStar’s distribution both domestically and internationally after satisfying the demand from the existing dealer network. We look forward to working together to deliver profitable and sustainable market share growth, and driving efficiency in every area of our business.”


2017-10-03


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Insight: Edoardo Tabacchi, the new driving force behind Perini Navi

Every person that has achieved success thinks about owning a Ferrari, but if you like the ocean you also think about Perini Navi.” These words keep appearing in my mind as we make our way back to the airport after a meeting with Edoardo Tabacchi in the jet set Sardinian seaside town of Porto Cervo. It is the height of summer and news about Fenix Srl’s new partnership agreement with Fabio Perini’s Faper Group broke but a few weeks ago. We decided to meet the new Vice President in his hometown along with Perini’s new Chairman and CEO, Lamberto Tacoli.

Edoardo Tabacchi

In May this year Perini Navi announced that it has signed an agreement with the Tabacchi family wherein Fenix Srl, the family company led by Dino Tabacchi, have acquired 49.999% interest in Perini Navi and whereby Tabacchi’s son, Edoardo, is instated as the company’s newest Vice President while Fabio Perini remains Honorary President of the company.

A keen yachtsman himself, Edoardo Tabacchi has a strong connection with the luxury sector having stepped down as Vice President of Italian eyewear retailer, Salmoiraghi Viganò just last year following its buyout from Luxottica. “I have always been passionate about boats. My family has always had a boat in one form or another. We sailed for 20 years and then later cruised with motor yachts for another 20 years, so I got to experience both sides of the market.” Now being yacht-less for the first time in many years, apart from his 47-foot RIB that is kept at his home in Porto Cervo, Tabacchi is perhaps more eager now than ever to take on the challenge that lies ahead. 

The conversation soon turns to business, and it is clear that Tabacchi is here to get things done. But despite his determination and drive, it would seem that sitting on this side of the Perini table was never part Edoardo’s plan. “No, I was never looking for a stake in this market,” he clarifies. “I had the opportunity to meet Mr Perini around Christmas time last year after having already been in contact with the sales team in the past as I have tried several times to buy a (used) Perini. So we ended up talking about his company and the future of Perini. After that meeting in December, we realised that we have something special and he suggested that we start a deal together, which we achieved a few months later.

Maltese Falcon

A deal which might only have taken a few months to seal, but according to Edoardo is set to last far longer than simply a few short years. “We will be part of the company for many years. We are not investing as a private equity firm for three to five years, we want to be part of it for an extended period as we made an agreement with the Perini family to keep building the company with the same Italian values in order to save the brand for the future.

Despite admitting his entry-level knowledge of yacht-builder management, Edoardo is a man with a plan and has enough experience as an owner that might just give Perini Navi the edge it has been missing over the last few years. The company’s approach to building yachts on speculation, such as the 60-metre currently in build in Turkey, will continue. “I have been a client and I know how crazy it is to wait three years for your boat to be completed. Many don’t care how long the build takes, but simply want to enjoy the best parts of the experience; the cruising. So why not continue building on speculation? It has proved very useful so far.

Handcrafted, custom Italian luxury, however, will remain firmly at the heart of the company and a new strategy is being developed that will bring a closer connection with the brand and the motor yachts it has produced under the Picchiotti name in the past. “We will have an all-new product line for both sailing yachts and motor yachts – something outside of the box. We are a new company, essentially, with new shareholders and I think the market is waiting for something new from us.

A new company, perhaps, but Edoardo makes it very clear that the essence that has made Perini Navi, Perini Navi will remain and the iconic man behind the brand himself is not to fade away anytime soon. “Mr Perini is an essential part of all of this. He will most certainly continue in the company, which was also my agreement with him. I didn’t want to buy the company without Mr Perini; without his mind and his desire to create something new. We like very much to spend hours together to think about the future and the new products to draw. We always dream together of the future of the sail business.

Maltese Falcon

This honest and upfront approach is not only a personal attribute of Edoardo’s; he clearly feels there are changes that need to happen in benefit of the entire industry. “I think that this business has to become much more serious. It is not normal to promote a boat for sale at 25 million and sell it at 15 million. You will not find that in any other business. If it’s good to sell the boat at 15, why promote it at 25 in the first place? This is happening in Italy and elsewhere all over Europe too. I am not suggesting a fruit-market style of trading, but this industry can certainly grow up in terms of sales.” Edoardo remains hopeful, however, and feels that targeting the right individuals and delivering on promises made can quickly yield results. “There are a lot of new rich passionate people all over the world that are becoming richer with more culture and a new love for the sea and these kinds of products. I’m very positive. Sail yachts are also a way to be closer to the environment and respect the sea

One-on-one with Lamberto Tacoli

 

Lamberto Tacoli

How long have you been involved with the whole deal?

Around December last year, when I was invited by the Perini family to join on the management side of the business. We knew we had to get a new commitment and an Italian at that. I immediately thought about Edoardo. He has a lot of experience operating in difficult markets and, most importantly, he and his family are in love with Perini. We worked to fine-tune the deal for about six months which was finalised on 24th May this year. 

Have you thought about lowering the entry-level Perini models to 30-metres?

To be honest, no. I think Edoardo and I agree on this, that today a 40-metre yacht is not big anymore. A 40-metre can still be sporty but also classic, so we are working with a new designer on this as our starting point.

Will motor yacht production become a big part of the company’s future?

The focus will remain on the sailing yacht sector. From the day we started, I was personally involved with 80% in business development for sailing products rather than motor yachts. Motor yachts are my skill, however, and of course, if the market gives us any opportunities in that sector, we will take it. 

Sybaris

Do you have a good feeling about the market?

I feel it is a better market than it was 5 or 6 years ago; we will never go back to 2007. But it is still a difficult market. However, today the market is much more focused on the ‘passionate’ owner, and this is a key point I believe. We need to communicate better the opportunity to own a yacht, to enjoy the sea and everything it is connected to as well as the idea of having a yacht as your own. We also need to enlarge our target market, as I feel we have been fishing in the same lake for the same clients for too long. I think in the next 5 to 10 years, together with Asian clients, we will see that gradually increase.

This article was featured in the most recent edition of the SuperYacht Times newspaper. Subscribe now to receive your copy straight to your door, and never miss another issue. 


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Tesco launches half-price toy sale, including Barbie, Paw Patrol and Disney

IF you are hoping to get ahead of the game on your Christmas shopping, now is the time to do it.

Tesco has launched a half price sale on a range of kids toys, including big names like Paw Patrol, Barbie and Disney.

 Selected Paw Patrol toys are in the sale but some are already out of stock
Selected Paw Patrol toys are in the sale but some are already out of stock

But if you want to take advantage of the deals, you’ll need to get in quick before the sales ends on October 15.

Tesco are following in the footsteps of Smyth’s and Asda by rolling back the prices on selected toys.

The most expensive toy in the sale is the MECCANO Meccanoid Personal Robot XL 2.0, down from £350 to £175.

The price of the Barbie Dolphine Magic Ocean View Boat Playset, which is exclusive to Tesco, is also half price, now £60 from £120.

But if that’s still out of your price range, don’t worry because there’s plenty more big brand toys available for under £50.

A pack of seven Disney Princess dolls – including Belle, Ariel and Pocahontas – are now £40, down from £80.

 This Barbie set is exclusive to Tesco and has its price slashed by 50 per cent
This Barbie set is exclusive to Tesco and has its price slashed by 50 per cent

Get your child ahead of the driving game, with the Falk Pedal Tractor and Trailer Ride On is also included in the sale and its price has dropped from £70 to £35.

If it’s Paw Patrol your children are after, then Tesco has got your back.

The Paw Patrol Educational Activity Table was £50 and is now £25 and the Paw Patrol Priate Pups Pirate Patroller is now £22.50, down from £45.

But hurry because already, two out of the seven Paw Patrol toys included in the sale are out of stock.

 Indulge your child's super spy side with this Silverli Spy Racer Drone for 30
Indulge your child’s super spy side with this Silverli Spy Racer Drone for £30

A for the big kid in your life, they’re even selling a Silverlit Spy Race Drone for £30, down from £60.

Only last week Tesco announced that it was recalling a light up children’s jewellery set over fears that the toy could be harmful.


SANTA SPENDER Amazon reveals its top Christmas 2017 toys – here’s how to make sure you get them cheapest


The manufacturer RMS International Limited discovered that the batteries can become exposed during play and may be swallowed by kids.

The UK’s biggest supermarket is recalling the GL Style Crystal LED light up jewellery kit as a precautionary measure.

It affects toys which could have been bought from August 2017 onward.

money@the-sun.co.uk or call 0207 78 24516



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