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10 May 2024

PIERO FORMENTI TAKES THE HELM OF THE ITALIAN MARINE INDUSTRY ASSOCIATION

Piero Formenti, already Vice President of the Italian Marine Industry Association Confindustria Nautica, has now taken the helm of the Association responsible for representing the Italian yachting industry and its supply chain, following President Saverio Cecchi’s decision to temporarily step away from office. After convening yesterday, the Association’s General Council ratified the appointment as per the Association’s statute.

The Italian Marine Industry Association’s activities will continue without interruption, committed as ever to the same key priorities, two of which remain at the forefront: the market and the consolidation of the Genoa International Boat Show.

With the same dedication I have shown in expanding the company I run alongside my wife and son, and in representing the Association over the years, I will serve our member companies to the best of my ability,” declared Mr. Formenti at the close of the General Council meeting.

The economic context is currently witnessing signs of a slowdown. This is compared to a three-year period of unprecedented growth that in 2023 brought the Italian yachting sector to an all-time high in terms of turnover, exports, and employment, rising from 160,000 to 200,000 jobs over the last five years,” Formenti stressed. “Particularly affected is the small craft market, the contraction of which is expected to impact a number of product segments, particularly in certain geographical regions. Reasons for this include the hike in interest rates and restricted access to credit. The current state of the market calls for quick answers. Answers concerning administrative simplification, flag competitiveness, registration times, regulations on new green fuels, professional training opportunities, and the competitiveness of marinas, slipways and storage services. Action on all of these fronts will contribute to upholding a competitive Italian system overall and allow companies the most favourable environment possible in which to continue to invest“.

It is precisely in this scenario,” continued Formenti, “that the consolidation and expansion of the Genoa International Boat Show takes on even greater importance. I regret reading a number of comments in the press on the value of public funds provided to what is the second largest industry event in Italy (after the Salone del Mobile.Milano design show) and the third largest worldwide for the yachting sector. Every year, the Show pumps 65 million euros into the local economy alone (The European House – Ambrosetti, “Rapporto Liguria 2030“, July 2023), and yet it remains the least financially backed sector event compared to competing events overseas. For this very reason,” Formenti concluded, “the Italian Trade Agency’s Events Plan has continued to increase its support for the Genoa Boat Show, demonstrating the growing awareness that Italy must work as a system when supporting the country’s international trade fairs. These world-class showcases are a cross-industry reference point for the Made in Italy brand. In this respect, there is still work to be done.”

Within Confindustria Nautica, Piero Formenti has held the position of Vice President for two consecutive terms from 2015 to the present, representing the small craft industry within the Association. He has also served as President of EBI – European Boating Industry, representing the boating industry across Europe, for two consecutive terms from 2015 to 2019, and currently holds the position of Vice-Chair supporting the EBI President for the two-year period between 2023 and 2025.

Born in Lombardia in 1958, Piero is married to Donatella since 1983 and has a son, Luca. It was his father, former director of a research and development workshop operating under the Pirelli Group, and then production manager of a company that made rubberized fabrics and a small series of inflatable units in the 1970s, who instilled his passion for boats and the sea.

As of 1979 Piero has been the founder and owner of Zar Formenti, a leading company specialised in the manufacturing of inflatable units.

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