SHANGHAI, 10 April 2008 – Azimut Yachts, the world-leading company in the boat luxury yacht sector, announced today at a press conference held at the International Convention Center in Shanghai the formation of Azimut China, a subsidiary aimed at coordinating the strongest and most far-flung commercial network for luxury yachts in China. Azimut Yachts has already been present for a year on Chinese territory through a representative office located in Shanghai.

The past year saw the official start of a distribution network that now counts four dealers in China’s main coastal zones. From north to south these are: Qingdao - Rongsea Yacht; Shanghai - Vela Yacht Co Ltd; Xiamen - Leading Yacht; Hong Kong - Simpson Marine.

Azimut Yachts makes its entrance as the unquestioned protagonist of the yachting sector in a country where Italian-made luxury goods linked to fashion, cars and jewelry, to cite only a few sectors, are symbols of the style, design excellence, and distinctiveness that have made Azimut a recognized icon world-wide.

In the last 12 months the company has received orders, among others, for no less than four megayachts, among which we can mention in particular an Azimut 68 Flybridge (photo) and a Azimut 98 Leonardo, a megayacht measuring over 30 meters in length, ordered in the Dalian area. The Azimut 98 Leonardo is the biggest megayacht in its category ever sold in China and will be delivered to its owner a few days before the opening of the 2008 Beijing Olympics in the Qingdao region, the venue for the Olympic sailing competitions.

The Azimut 68 Flybridge is on display today in a first-ever preview for China along Shanghai’s Huangpu River in the unique setting of the elegant Pu Dong District.

“Today Azimut Yachts writes with pride a first important page in the history of yachting luxury in China,” said Azimut Yachts CEO Federico Martini. “The strategy of internationalization and expansion of the commercial network, which today has taken on concrete form with the opening of a second international Azimut Yachts site after the service center in Fort Lauderdale, Florida, ensures the most important and extensive commercial presence in the world of luxury yachting. Azimut Yachts’ commercial coverage in over 60 countries is a guarantee of the greatest possible attention to the client in the purchase phase and in after-sales service.”

The after-sales service put in place through Azimut China makes it possible to support dealers and to handle clients’ needs in all phases, from purchase to after-sales, as well as to guarantee the utmost comfort through the Master Peace insurance package by Skippermate Assistance, able to provide every type of assistance to its owners round the sailboat clock, everywhere in the world.

The strength of the Chinese economy

A country that counts around 400,000 millionaires, 5,000 of them with assets for over US$ 30 million, according to the Asia Pacific Wealth Report by Capgemini/Merrill Lynch. According to an Ernst & Young report, China will surpass the United States, becoming the second biggest consumer of luxury goods in the world by 2015 with $11.5 billion in overall spending, a figure that represents 29% of the world total. Analyzing the emerging markets of the Asia Pacific area, the Middle East and Eastern Europe, the expected growth of the yachting sector is +14% per year.

The growth of infrastructure in service to yachting

Over 50 marinas are in the development or planning stage in the country. One of them is the marina of Qingdao, where the Olympic sailing competitions will be held. The locations of the sites of the four Azimut Yachts dealers around the country reflects the geographic positioning of the marinas being built.


Based on these data, Azimut Yachts foresees a sales volume for 2012 of around 50 yachts per year and is seeing an orientation of its clients toward models in the high end of the range.

“Azimut Yachts is a synonym everywhere in the world of distinction, contemporary elegance and comfort thanks to its unmistakable design,” Mr Martini went on to say, “signs that characterize our yachts as unique, unmistakable icons of style. Today Azimut Yachts takes its place in China alongside the most prestigious brands of ‘Made in Italy’.”