Italian luxury yacht maker believes in India’s potential, yet highlights need for awareness
Italian luxury yacht maker Riva, part of the Ferreti Group has historically been associated with celebrities and Hollywood, with royalty and glitz and glamour. But while Ferretti Groupmade its entry into India in 2004, and has sold some of its other brands, Riva has yet to make a debut.
"It’s like the Bentley or Rolls of boats," says Gautama Dutta, or Marine Solutions, dealer for global yachting major Ferretti in India. "The market is there, we just have to promote it." adds Dutta. Ferreti Group believes that India is one of the most significant markets for the boating industry, and the personal boating sector expects the strongest growth in the short-medium period. "Indians have a strong nautical culture, which, on average, can be only rarely found in other Asian countries," says a Ferretti group spokeswoman.
Alberto Perroni Da Zara, commercial director, Riva, told The Economic Times (The Times of India): "We’re easily 25% more expensive than our competitors. But we don’t even mind when others copy our styles. Because the more people copy the Riva style, the more people know about it. But it isn’t Riva,". For India, Riva would like to promote its larger ranges – not the sleek little runabouts. "We haven’t yet focused on India, but we intend to," he points out.