LVMH boss Bernard Arnault, the world’s fifth-richest man with a staggering net worth of $168 billion, seems to desire more than just the allure of a single $150 million superyacht. His stunning summer house on the sea, Symphony, is a beautiful vessel, but is it enough for the Chairman & CEO of LVMH Moët Hennessy Louis Vuitton? Apparently not. The tycoon, who oversees the LVMH empire of over 70 fashion and cosmetics brands, including Louis Vuitton and Sephora, is now eyeing an expansion into the luxury yacht sector. Once you experience the charms of the azure waters, there’s no turning back. According to Corriere della Sera, the conglomerate is particularly interested in Italian luxury yacht company Ferretti, the parent company of Riva motorboats.
Founded in 1842 by Pietro Riva in the small town of Sarnico, Riva joined the Ferretti Group in May 2000. This makes Riva an even older brand than Louis Vuitton, which was founded in 1854. Riva, however, reached its peak in the early 1930s with its renowned racing yachts. In 1956, Carlo Riva revolutionized the brand’s wood-based designs with the help of designer and architect Giorgio Barilani. Another historic milestone came in 1969 when the company began crafting vessels from fiberglass.
It’s clear that Arnault is considering acquiring a brand that mirrors LVMH in many ways. With a wealth of history, heritage, and craftsmanship, the Ferretti name offers boundless potential.
At the recent 64th Fort Lauderdale International Boat Show, Riva unveiled yet another innovation: the Riva Residenze, which extends the Riva brand experience to land. Known for their flawless interior workmanship and cutting-edge engineering, Ferretti yachts have maintained their reputation for nearly half a century. It appears LVMH has zeroed in on a brand that perfectly aligns with its prestigious portfolio.
