Giovanni Costantino - Italian luxury travels by sea

From large sailing yachts to superyachts up to 140 metres long. Not to mention the refitting of motor and sailing superyachts and yachts. This is the world of The Italian Sea Group, a global luxury yachting operator listed on Euronext Milan and Italy's leading builder of superyachts over 50m. The Group, headed by the entrepreneur Giovanni Costantino, has a history marked by acquisitions of major Italian yachting brands.

What were the acquisitions? How did the company start?

"In 2009 came the acquisition of Tecnomar, known for the sportiness, cutting-edge design and high performance of its yachts; in 2011 Admiral, renowned for building fully customisable classic-style superyachts over 50 metres long; and in 2012 the acquisition of Nuovi Cantieri Apuania in Marina di Carrara. In 2020 The Italian Sea Group was officially founded, and in 2021 it was joined by Perini Navi, the world leader in the design and construction of large sailing yachts, and Picchiotti, a historic shipyard that for more than four centuries shaped the history of naval, merchant, pleasure and racing craft. Alongside shipbuilding there is the refit service for yachts and megayachts, focused on vessels over 60m, through the NCA Refit brand, which has increasingly established itself as a point of reference for a highly sophisticated international clientele".

Where are you based, and how many employees do you have?

"Located in the heart of Italy's renowned yachting district, The Italian Sea Group's shipyard in Marina di Carrara, built on an area of around 120,000 sq m, of which more than 53,000 are devoted to refitting, has facilities unique in the world, such as its two dry docks, one of which, 147m long and opened at the end of 2021, is fitted with an innovative “caisson gate”. Its production space makes it the largest yachting facility in the Mediterranean and over the years has allowed it to keep pace with the growing size of orders. But it isn't only about the technical side. The yard also has an area, “The Village”, devoted solely to the wellbeing and entertainment of owners, captains and crew, which includes an elegant lounge bar, a restaurant, a gym and a SPA. Then there are two other production sites: one in Viareggio and the other in La Spezia, both operational since February 2022. We currently have 530 employees, with 1,000 more in the supply chain".

How is the yachting sector doing in Italy?

"The yachting industry is going through a good period globally, despite the complex geopolitical context. The sector has become very dynamic again. Sooner or later the market can be expected to cool, but at least for the whole of 2022 the situation will remain positive. The large yacht segment, which keeps growing, has proved more resilient than other sectors, partly because its loyal clientele is international and made up exclusively of Ultra High Net Worth Individuals, who are less exposed to recessionary economic scenarios".

What are your markets? What do your clients ask for most?

"We sell our yachts to owners of every nationality. We have launched a commercial expansion plan to grow our business in the Middle East and the United States, where this summer we also opened our first flagship store in East Hampton, Long Island, and the response has been extremely positive. Our owners want adventure and freedom; they ask for yachts able to sail in any conditions and anywhere. They want to reduce the distance between the interior and the outside, to keep a constant connection with the sea. But above all they want uniqueness, perfection and a guarantee that every requirement will be met without compromise. We work with owners at every stage of building the vessels. The innovations on our yachts often start from their requests, which we try to turn into unique products. In general, the global market trend shows growing demand for yachts with unconventional shapes, so much so that Explorers are winning more and more of the market, both for their performance and for their layout. We develop concepts in line with our standards of quality and performance. Stylistic innovation is undoubtedly part of who we are: every one of our yachts is unique and we are constantly searching for new creative solutions".

What is your turnover?

"In the first half of 2022 we achieved total revenue of 133.6 million euros, up 65.1% on the 80.9 million recorded in the same period of 2021. The increase in revenue is mainly due to the growth of the order book, which stood at 922 million euros at 30 June, to progress on the vessels currently under construction, and to a significant boost from the NCA Refit division. We are very proud of these results, which confirm the soundness of our strategy, the solidity of our development plan and our ability to deliver it".

How have the pandemic and the war affected your work?

"Our activities never stopped. During the pandemic, with great effort, we managed to complete the projects we had planned on schedule, and the war, fortunately, has not hit us. The Russian market accounts for less than 10% of our turnover; our exposure is small. At the moment there is only one order in place, for a 75-metre vessel, for a client not affected by international sanctions. I would add that we have no suppliers in Russia, Belarus or Ukraine, and that all orders and refit work are proceeding without delays. In situations like this, diversification across global markets is an excellent safety net".

Do you have your own Academy?

"Yes, in 2021 we opened our Academy, in partnership with the University of Genoa and the Promostudi Foundation, devoted to programmes of excellence for the company's employees and for final-year students on the degree courses in Naval Engineering and Mechanical Engineering with a Mechatronics specialisation, and on the master's degree in Yacht Design. To house the Academy inside the shipyard we built a multi-purpose facility of around 300 square metres, with more than 150 seats. The initiative grew out of the awareness that it is companies' responsibility to bridge the last mile graduates have to cover to complete their studies, and to invest in training their employees. The Academy aims to encourage exchange between the University and the world of work, allowing students and young talent to put their knowledge of naval design and construction into practice by taking part in unique projects, a true expression of made in Italy".

Come and learn how the high-end market works, and how you can position your brand in the premium–luxury sector, selling your products or services in Italy and abroad at high prices, and so increasing your profits and margins without losing market share or sales.

Discover the live course “Margini di Lusso”, 8th edition, Friday 20 and Saturday 21 November 2026 in Milan, taught in Italian: book your place on the course page.