Ferretti Group’s UAE dealer announces end to partnership
Ferretti Yachts 580
Ocean 360, the exclusive dealer for Ferretti Group in the UAE, has announced the end of its partnership with the Ferretti Group, effective 1 September 2023.
In a statement, the UAE-based dealer says: ‘After five years of successful collaboration, both companies have decided to move forward independently, focusing on their respective strategic goals and growth opportunities.’
Italian luxury yacht manufacturer Ferretti Group appointed Ocean 360 as its dealer for UAE, Oman and Egypt in 2019.
This period has witnessed ‘significant’ growth of the market share, according to Ocean 360, with a total of 23 new and pre-owned yachts sold from the Ferretti Group portfolio over a five-year period.
The firms have collaborated at five editions of the two major UAE boat shows – Dubai International Boat Show, and Abu Dhabi International Boat Show, during which five new models were launched as premieres in the Middle East.
“We are immensely proud of the achievements we’ve accomplished. We have built a premium ecosystem that covers all aspects of purchasing and owning a yacht – be it new or pre-owned — and we have defined a new standard in the UAE leisure maritime industry, raising the bar in both terms of professionalism and customer satisfaction,” says Sebastian Dumitrescu, chief executive of Ocean 360. “As we conclude this chapter, we look forward to an exciting new strategy that will get us even closer to our clientele and to the exciting opportunities that lie ahead for Ocean 360.”
Ocean 360 says it will ‘now focus on its independent growth strategy,’ which includes diversifying the portfolio of brands to be offered to customers as well as strengthening the brokerage services. It will create a new line of business will be created to address the charter market, considering the soaring demand in both UAE and Mediterranean markets.
“The company remains dedicated to its core mission of enabling the luxury lifestyle at sea and will continue to deliver exceptional products and services that cater to the evolving needs of the maritime sector. In today’s market it means having more options for the yachting enthusiasts, that address a wider range of yachting needs and budgets,” says Bogdan Borascu, marketing director of Ocean 360.
