Azimut's 50th Anniversary

The year 2019 marks the 50th anniversary of Azimut Yachts. In the fifty years since the company was founded it has evolved from a modest yacht charter operation into a globally respected brand and byword for luxury. At the heart of this success is the company's owner and founder, Paolo Vitelli.

It all started in the mid-sixties when Paolo Vitelli was a student learning English in London. There, he got his first taste of the UK's vibrant club scene – a scene which at the time didn't exist in his home town, Turin. On his return to Italy, Paolo and a group of friends promptly got together and started their own nightclub. The club was so successful that Paolo was able to sell it three years later and pursue his dream of setting up a yacht company.

The First Azimut Yacht

Azimut was established in 1969 as a yacht chartering operation, but it took Paolo just three months to realize that more money could be made from brokerage. Paolo's next step was to import boats from northern Europe and sell them to clients in Italy. The final step was to build his own.

Azimut's first yacht was the result of a partnership with Amerglass, a Dutch yacht-building company that operated one of the most technologically advanced boatyards on the continent. The partnership was an instant success: in 1975 the AZ 43 Bali was launched to widespread acclaim. Mass produced from fiberglass and powered by a pair of 300 HP Volvo Penta engines, it featured well-appointed cabins, a spacious galley and comfortable salon.

Other models followed. The AZ 43 Bali was duly supported by the AZ 43 and AZ 43 Offshore; in 1977 the hugely popular AZ 32 Targa was introduced. But as successful as Azimut's early boats were, Paolo Vitelli wanted more. Specifically, he wanted to make his own boats in Italy and he wanted a foothold in the world of luxury yachts.

The Quest for Luxury and Quality

The James Bond movie Never Say Never Again is notable for scenes featuring the Nabila, one of the most famous yachts ever built. The 86m superyacht was commissioned by Adnan Khashoggi in the late 1970s and built by Italian shipbuilders, Fratelli Benetti. She was delivered in 1980 and included almost every conceivable luxury. Rumors about the yacht's costs abounded. It's said, for example, that interior furnishings may have cost more than the yacht itself.

The spiraling costs of building the Nabila plunged Benetti into serious financial difficulties. The company floundered and its shipyards in Viareggio began to suffer. In 1985 Paolo Vitelli stepped in and bought the company. The acquisition was a huge and extremely expensive risk, but it gave Azimut two strategic gains. The first was access to the Viareggio shipyards and the opportunity to build its own yachts. The second was an open door to the luxury yacht market. As for the Nabila, in 1987 she was sold to Donald Trump.

Following the acquisition of Benetti, Azimut's growth skyrocketed. A young and extremely talented designer named Stefano Righini was brought into the fold and invited to stamp his distinctive style onto new models. Thanks to Stefano's creative input, Azimut yachts rapidly earned a reputation for their huge flying bridges, unusually large windows and airy, spacious interiors. At the same time, Azimut was developing cutting-edge production techniques and paving the way for further growth and innovation. The Azimut brand was evolving into a global leader.

Atlantis, Magellano and Brazil

In 2001 Azimut went shopping again. This time they bought the Gobbi shipyard in Piacenza (not far from Milan), an acquisition that spawned the Azimut Atlantis collection. As of early February 2019 three Atlantis models are available, ranging in length from 34 feet to 51 feet. The collection blends sportiness with Italian elegance, and appeals to buyers seeking high quality yachts that capture the spirit of freedom and adventure.

As the first decade of the new millennium drew to a close, Azimut was firing on all cylinders. In early 2009 the company bought Intermarine, a Brazilian yacht builder that accounted for 60% of the domestic market. At the time of the acquisition, the boatyard employed more than 900 people and operated a production facility spanning 20,000 square meters.

Later in 2009 Azimut introduced the Magellano collection, an award-winning collection of long-range, eco-friendly boats. According to Paolo Vitelli, the collection reflects "a trend away from show-off boats and an increase in the desirability of slower styles of yachts". Magellano yachts are characterized by spacious lounges and galleys, huge widows and extensive interior and exterior storage space.

Azimut Yachts: the Present and the Future

As Azimut celebrates its 50th anniversary and reflects on its colorful history, the company is in a stronger position than ever. But obstacles to further growth remain. Hong Kong, for example, is a buoyant market but suffers from a lack of berthing. When Azimut tried working with local authorities to develop a marina, time-consuming and extremely conservative bureaucracy derailed the project. China is an obvious market, but currently lacks sufficient marinas. Paolo Vitelli is confident about India, though, believing the country offers great opportunities.

Azimut's share of the global yachting market currently stands at more than 12% and the company's flagship brand, Benetti, is enjoying brisk sales. Especially successful right now is Benetti's Mediterraneo, a 116-feet superyacht that has sold 4 units since its introduction in 2015. For our own part, Pinnacle Marine concluded a successful 2018 with the sale of a luxurious Flybridge 66 and Magellano 53 to buyers in Auckland. Both yachts are scheduled for delivery later this year.

Pinnacle Marine New Zealand

Pinnacle Marine is New Zealand's exclusive dealer for Azimut Yachts. The company is helmed by Grant Saunders, an industry veteran with a thorough knowledge of the Azimut brand, it's history, core values and comprehensive range of yachts. For further information, please get in touch.