Although official confirmation is still pending, rumours are growing that the French family-owned company LVMH (Louis Vuitton Moet Hennessy) is interested in acquiring the Riva brand from the Ferretti Group. LVMH, which owns luxury brands such as Dior and Moët & Chandon, is said to have made initial contact with the Chinese Wechai Group and Italian shareholder of the Ferretti Group, which also owns Piero Ferrari, in order to examine a possible takeover of the luxury brand Riva.
The Chinese Weichai Group, which owns 37.54 per cent of Ferretti shares, has already shown itself to be open to strategic sales in the past.
Why the yachting scene is interesting for LVMH
This would not be the first time that LVMH, under its CEO Bernard Arnault, has become involved in the yacht sector. Back in 2008, the Group acquired the British luxury yacht manufacturer Princess, only to sell it again later. LVMH is also involved in the America's Cup with its Luis Vuitton brand.
The yachting scene is also of great interest to LVMH, as the company could benefit from significant synergies between its brands by integrating Riva into its portfolio and thus further increase the value of the entire group.
More shipyard news:
Riva invests outside its core business
In addition to its core business of boat building, Riva is currently also investing in other areas such as the sale of exclusive merchandising products, the establishment of so-called Riva lounges and the property business. Around four weeks ago, the first "Riva Residenze", a luxury residential complex with its own jetty, was unveiled at the boat show in Fort Lauderdale.
What does this mean for the brands?
It is still unclear what this means for Riva, and possibly also the other brands of the Ferretti Group such as Ferretti Yachts, Pershing, Wally or CRN. Both the shipyard and LVMH are currently withholding further information.
