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Benetti, BYOND Series: A Report

BENETTI, BYOND SERIES

By Amina Mohammed & Erika Moscariello

In a world where innovation is woven beneath the tides of opulence, Benetti has been a pinnacle for maritime luxury for over a century since its foundation in Viareggio, Italy, in 1873 (founded by Lorenzo Benetti). Each fragment of Benetti’s narrative radiates elegance, craftsmanship and an unparalleled pedigree that continues to evolve as nautical innovation makes groundbreaking progress.

As we delve into its theoretical and historical aspects, we can appreciate the characteristics of luxury that it embodies and explore the qualities that define the Benetti experience. Benetti goes beyond the means of transportation but rather the experience and effectively communicates the importance of their heritage through their unmatched creations.

This report, in three parts: introduction, main body and conclusion, will shed light on the foundations of the exquisite yachts of Benetti and how his passion for the sea has been depicted through the blend of traditional and modern master artisanship.

TIMELINE BENETTI / AZIMUT|BENETTI

1873 – Establishment in Viareggio, Italy.
Early 1900s – Focused on yachts with wood; commercial vessels. Lorenzo passes company to sons. Transition to steel.
1990s – Launch of NABILA yachts and international exposure.
Early 2000s – Merge with Azimut due to financial difficulties. First to use fibreglass.
2018 – Launch of ‘Spectre’. Won Boat International’s No.1 award six times.
2020 – Launch of ‘Lionheart’. 140th anniversary. Marco Valle became CEO.
2021 – Launch of FB277. Continued growth despite pandemic.

THE DNA

CRAFTSMANSHIP
INNOVATION
ELEGANCE
ITALIAN
OPULENCE
EXCLUSIVITY
SUSTAINABILITY

Design superiority and Italian craftsmanship

The evolution of Benetti consists of a consistent trend of honourable commitment to its heritage and craftsmanship, as it is considered one of Italy’s pioneers for its immaculate reputation regarding sophistication and excellence in quality. This global recognition not only reinforces their pursuit of artistic satisfaction but also functionality and maritime excellence. The concentration on Italian craftsmanship has been integral to bolstering the craft-based sector, striving to mitigate job losses and elite skills that could be lost in the transition from time-honoured products to contemporary elegance.

Despite this, craftsmanship could potentially affect scalability, as each yacht has its distinctive aspects, and it is becoming increasingly difficult for high-quality standards to remain as production scales up. This may limit Benetti’s market share expansion or diminish the savoir-faire nature if unable to respond to increasing demand, which could contradict the brand’s promise.

Distinctive advantage of innovation

Benetti's keenness on innovation provides a competitive edge in the luxury yachting industry. Its technological incorporations and strides toward sustainability not only address the emergent demands for environmental awareness but also cater to clients’ desire for luxury and impeccability.

This progressive methodology is critical in a technology-driven sector. However, one could argue that despite Benetti’s sustainability procedures and innovative strides, the very nature of superyachts involves resource demands that pose environmental risks. This could alienate eco-conscious clients and invite tighter regulations.

Bespoke opulence

The custom-crafted approach of Benetti yachts distinguishes the brand by delivering meticulously tailored products to its clientele. The concepts of exclusivity and personal expression are central to the luxury market. This approach not only builds customer loyalty but also enhances brand desirability, emotional resonance, and affinity.

Though bespoke luxury is a key USP (unique selling point), it restricts the market to an affluent elite. This creates a double-edged sword: limiting potential clientele and exposing Benetti to economic variability that could affect ultra-wealthy consumers, thus impacting luxury market sales.

The Origin of Superyachting

Superyachting dates back before the 17th century (the golden age), originally for military and transport purposes. Over time, superyachts evolved from naval architecture into complex luxury items, enhanced by advanced technologies and refined craftsmanship.

Materials and Craftsmanship

Earlier yachts used high-end materials like mahogany and teak. Interiors mirrored luxury homes of the early 20th century with fine woods, fabrics, and bespoke details.

Modern-Day Craftsmanship and Technology

Superyachts today feature advanced materials (e.g., carbon fibre, glass-reinforced plastic), fluid designs, and interiors by top designers like Achille Salvagni. Art, fine finishes, and innovation are seamlessly integrated.

Amenities and Features (Then vs Now):

Then: Poised dining rooms, classic libraries, wooden lounges, expansive decks.
Now: Spa amenities, gyms, pools, hybrid propulsion, zero-emission modes, helipads, and tech-rich interiors for bespoke luxury.

Service and Experience

Luxury service is an evolving pillar. Today’s yachts offer fine dining, wellness, and trained hospitality staff to enhance sensuality and customer satisfaction.

ROYAL INFLUENCE

Following the 17th century, the concept of yachting for pleasure emerged as a symbol of wealth and power. British royal King Charles II embraced yachting as a sport, marking a shift from military use to leisurely enjoyment. This move expanded the meaning of superyachting and introduced luxury yachting to high society in England.

Consumer demand for luxury yachts fueled advancements in:

Artisan craftsmanship
Premium materials
Cutting-edge technologies

This growing industry contributed significantly to the global economy and enhanced naval recognition.

King Charles II’s yachts embodied state-of-the-art technology and opulence, establishing enduring standards for luxury and inspiring generations of yacht designs.

SOCIO-ECONOMIC IMPACT

Exclusivity & Stratification: King Charles' embrace of yachting reinforced social divisions and the prominence of elite leisure.
Legacy: His influence left a lasting imprint on luxury yachting, where exclusivity, craftsmanship, and elite experiences still shape consumer expectations today.

PESTLE ANALYSIS

Political

Emissions and waste disposal regulations affect yacht design and operations.
Green energy incentives support hybrid propulsion adoption.
Political instability or trade tariffs can impact business continuity.

Economic

High initial investment in sustainable technology.
Market fluctuations influence consumer power.
Currency exchange rates affect profitability.

Social

Growing focus on sustainability in luxury lifestyle.
Clients expect yachts to reflect environmental and ethical values.
Social stratification remains a defining characteristic of ownership.

Technological

Digital systems enable real-time yacht monitoring and efficiency.
Integration of new manufacturing techniques and materials.
Cybersecurity concerns in connected yachts.

Legal

Compliance with maritime safety, labor, and environmental laws.
Intellectual property and liability issues may arise.

Environmental

Resource-intensive operations contribute to pollution.
Emphasis on waste reduction and renewable materials.
Partnering with conservation groups to offset ecological impact.

BRAND PRISM

Physique: Sleek, elegant, state-of-the-art design.
Personality: Bold, passionate, innovative, and commanding.
Culture: Italian excellence with heritage in craftsmanship.
Relationship: Transparent, reliable, customer-centric.
Reflection: Visionary, perceptive, successful clientele.
Self-image: Clients view themselves as refined, daring, and exclusive.

PRODUCT — B.YOND SERIES

Benetti B.YOND yachts are constructed primarily from aluminium and steel, promoting:

Sustainability
Zero emissions (eco-cruise mode)
Long-distance comfort

Highly customized interiors allow clients to feel at home at sea, crafted by top artisans. However, the bespoke nature:

Increases production time and cost
Risks over-customisation, affecting resale appeal

PEDIGREE (Pyramid of Luxury)

Apex Level: Symbolizes exclusivity, rarity, and consistent excellence. Benetti is recognized globally for building pure custom yachts (Ayling, 2024).
Mid-Tier Level: High quality and craftsmanship, still climbing toward elite status (e.g., Benetti, Top 3).
Base Level: Entry-level brands with accessibility and affordability but still maintaining strong quality.

Benetti’s heritage spans over 140 years, making it one of the world’s premier luxury yacht builders. This rich legacy:

Enhances B.YOND yachts with tradition and prestige
Boosts customer trust and influences purchasing decisions

Caution: Over-reliance on heritage can hinder innovation. A balance between tradition and modernity is essential to appeal to younger luxury consumers.

BRAND PERSONA & PUBLIC RELATIONS

Benetti:

Revamped its image via a major website launch and the “Being Unique is Art” campaign.
Focuses on aesthetic appeal and innovation while emphasizing tradition.
Expanded digital presence across Facebook, Pinterest, and luxury media platforms.

Customer Involvement: Personalisation allows clients to engage directly in the creation process, reinforcing brand loyalty and exclusivity.

PUBLIC FIGURES

Benetti yachts are owned and celebrated by high-profile clients:

Zlatan Ibrahimovic: Owns a Benetti 34M Oasis
David Bowie
Beyoncé & Jay-Z: Celebrated Beyoncé’s birthday on the “LANA” yacht during lockdown

Celebrity associations strengthen Benetti’s public image and elite appeal.

PLACEMENT

Benetti operates:

In over 60 countries
Across 7 international offices
Achieved a turnover of €1.2 billion in 2022
Has an order book of 34 superyachts worth €700 million (Rankine, 2023)

Top markets:

United States (38%)
Europe (33%)
Asia Pacific (12%)
Growing presence in the Middle East (16%)

PRICE

Benetti uses a premium pricing strategy:

Standard yachts start at around €20 million
Custom models, like B.YOND 37M, can reach €23.9 million+
B.YOND is marketed as “the greenest model in its class” with eco-cruise zero-emission mode

Pricing varies based on:

Customisation level
Materials used
Technology and sustainability features
Market demand and scarcity

BENETTI & COVID-19

Despite global disruptions, Benetti thrived during the pandemic:

Operations resumed quickly at Livorno and Viareggio shipyards
Maintained export and production schedules
Hosted virtual consultations and online events
Showed strong presence at the Monaco Yacht Show 2023

Order book remained robust with €700 million in superyacht projects during peak pandemic years.

B.YOND — A Revolutionary Vision

The B.YOND series marks a major evolution in Benetti's legacy. Its first model, GOGA, symbolizes:

A shift from traditional wooden yachts to aluminium and steel construction
A commitment to durability, luxury, and long-distance travel

Interior design by Mauro Izzo uses:

Blue fabrics and natural ombré tones
An elegant, warm atmosphere
High-end comfort for long voyages

SUSTAINABILITY INITIATIVES

Benetti integrates environmental awareness into luxury through:

E-MODE Hybrid Propulsion: Electric-powered cruising with zero emissions
Eco Cruise Mode: Prioritizes marine conservation
Customer-centric comfort without sacrificing ecological responsibility

Benetti collaborates with:

Blue Marine Foundation and Water Revolution Foundation
Focus on protecting ecosystems in Menorca, Turkey, and Greece
Promotes sustainable small-scale fisheries

Their ethos: Clean oceans are essential for future generations and the luxury experience alike.

STP — Segmentation, Targeting, Positioning

SEGMENTATION

Demographic:

Traditionally ultra-wealthy clientele aged 40+
Growing appeal among younger elites (entrepreneurs, heirs)

Psychographic:

Driven by values of luxury, wellness, exclusivity, and personalisation
Strong desire for bespoke design to reflect social status and taste

Behavioural:

High brand loyalty
Motivated by heritage, design excellence, and customer service
“Today’s seekers seek something deeper – a private space to share with family and friends” (Carreon, 2024)

TARGETING

Benetti employs a customer-centric approach, tailoring each yacht to individual preferences while preserving:

Heritage
Exclusivity
Innovation
Italian craftsmanship

POSITIONING

Benetti positions itself at the pinnacle of luxury:

Merging tradition with modern technology
Offering privacy, bespoke design, and long-term client relationships
Providing a "smooth sailing experience" at every touchpoint—from inquiry to delivery

CONCLUSION

Benetti, under the Azimut|Benetti Group, continues to flourish as a global leader in maritime luxury. With each yacht, a story of elegance, innovation, and heritage unfolds. The B.YOND series exemplifies: