“Here’s why. It is a sign of the times that some people not only want almost everything but also have the means to get it. For instance, anyone sailing the high seas today need not go without a five-and-a-half-meter-tall tree. Companies like the Italian yacht builder Sanlorenzo stand ready to turn such dreams into reality. On board the five-deck luxury yacht *Virtuosity*, currently docked in the port of La Spezia, the sounds of hammering, drilling, and tapping fill the air; a dedicated team of craftspeople is assigned to every deck and every corner.
Gardeners will soon be needed in the main saloon, a space the size of a small hotel lobby. On the main deck, a large circular planter awaits its soil. This is where a *Ficus nitida*—a type of fig tree—is destined to take root, albeit at a shallow depth; according to the ship’s designers, the tree requires no more than that.
The tree will extend through a large opening to add greenery to the upper deck as well. A hatch has also been installed in the sundeck above, allowing the plant to be admired from the very top. Experts say the *Ficus nitida*—an evergreen native to the tropics—is suitable for indoor environments and can withstand sea air, provided it is not exposed to excessive wind or drastic temperature fluctuations. How well the plant fares on the open ocean will likely depend on the care and effort the superyacht’s future owner invests in its maintenance.
With the *74 Steel Virtuosity*—named for its length in meters and its metal hull—Sanlorenzo prides itself on a "co-creation" process with the buyer, ensuring their wishes are incorporated in minute detail. Features include two pools, a professional-grade kitchen, and a gym, as well as glass panels on the lower deck that allow one to view the underwater world from the comfort of a cozy sofa.
Italian motor yacht designers are a major force on the world's oceans.
According to the trade journal *Boat International*, half of the top ten suppliers—ranked by order volume—are Italian. This ranking is based on the combined length of the boats currently under construction or on order.
Also ranking in the top five are the German manufacturer Lürssen and its Dutch competitor Feadship. They specialize in super-sized yachts measuring roughly 75 meters and up.
Italian manufacturers prefer not to venture into this territory, where the client base is very small; instead, they focus on the 24-to-75-meter size range.
"Feadship and Lürssen are simply better in their respective segments; I prefer the 50- or 60-meter range, as that gives me a pool of around 1,000 very loyal customers," says Massimo Perotti, Executive Chairman of Sanlorenzo, in an interview with the *F.A.Z.*
In terms of sales volume, Sanlorenzo ranks second internationally among large motor yacht manufacturers, trailing market leader Azimut-Benetti, which has headed the industry for more than two and a half decades. Perotti himself once worked at Azimut-Benetti for many years before taking over the small manufacturer Sanlorenzo, expanding it significantly, and thereby fulfilling a lifelong dream.
The rivalry between Sanlorenzo and Azimut-Benetti is intense, to put it mildly. Past personal ties have been severed; Perotti once served as best man for the late Azimut founder Paolo Vitelli, while Vitelli was the godfather of Perotti’s eldest daughter. Today, the Sanlorenzo boss draws a comparison between the two companies using Louis Vuitton and Hermès, likening his own firm to Hermès—the high-priced brand that remains resilient to economic fluctuations, luxury manufacturer from France. "I’m comfortable in second place, because we have a higher return on sales and excel in design, quality, and image," he claims. Though, admittedly, he can only really substantiate this regarding profitability. Last year, his operating return on sales reached around 18.7 percent—just two percentage points ahead of Azimut-Benetti.
Nor is Perotti exactly a small, exclusive manufacturer of rare goods in the vein of Hermès. Last year, his order book trailed the market leader by less than a fifth. Yet Perotti is undoubtedly a bold entrepreneur who enjoys trying new things. In 2024, he unveiled the first superyacht featuring an integrated fuel cell system, developed in partnership with Siemens Energy. The "50 Steel" converts liquid biomethanol on board into hydrogen to generate electricity. This is intended primarily for "hotel operations"—for instance, powering air conditioning, the galley, and lighting silently and sustainably while anchored in a secluded bay.
However, supplies of this specific fuel are scarce. "Our customers like the idea. But they ask me: 'Where do I get biomethanol?'" - reports Perotti. When he began development, the whole world was clamoring for ecologically sustainable solutions. But then came Donald Trump with his shift in environmental policy—a move Perotti explicitly disapproves of. Consequently, Perotti himself is the only one who has purchased the sole "50 Steel" model produced so far; his calls for the EU and various governments to subsidize biomethanol supplies at ports have gone unheeded.
Nevertheless, Perotti views himself as a pioneer; for instance, he is now collaborating with China’s BYD on battery technology. Megayacht builders Feadship and Lürssen reportedly have similar projects in the works, though—according to Perotti—none have yet hit the water. They are also pursuing a different technological approach; Feadship, for example, envisions refueling with hazardous hydrogen while at sea—a process Perotti considers overly complex.
As a result, the wealthy and super-wealthy are tending to focus once again on luxury yachts featuring conventional propulsion systems supplemented by smaller electric auxiliary motors. Market conditions are mixed.
Sales of smaller boats—those under 24 meters—are currently sluggish, as this segment does not attract the recession-proof super-wealthy.
Sanlorenzo is feeling this impact particularly acutely through its subsidiary, Bluegame; however, Perotti notes that this unit accounts for only one-tenth of the company's total revenue of approximately €1.6 billion. He is therefore pleased that his core business focuses on larger vessels.
"Our yachts aren't bought by managers who received a one-off bonus, but by families who have been wealthy for generations," he says.
The average price of a Sanlorenzo yacht is around €12 million, though large models like the *Virtuosity* command prices well above that figure.
Sanlorenzo currently has a stock market valuation of approximately €1.4 billion, with Perotti holding more than half of the shares and voting rights. Over the past twelve months, the share price has risen by around a third, though the company was actually valued higher a good four years ago. Perotti is currently negotiating the acquisition of a US manufacturer, though he is not disclosing the company's name. American manufacturers have largely disappeared or significantly downsized in recent years. Now, however, new tax breaks for US customers—driven by Trump—are proving attractive; furthermore, manufacturing in the United States would allow the company to bypass US import tariffs.
Perotti looks to the future with considerable confidence: "Success is never just a matter of performance. It takes talent and hard work, but also a bit of luck." He notes that he has often enjoyed such luck, particularly during times of crisis.” [1]
1. Ein Feigenbaum für die Luxusyacht: Zwei Pools, eine restauranttaugliche Küche, ein Fitnessraum: Größere Yachten für Superreiche verkaufen sich gut - kleinere derzeit weniger. Woran das liegt. Frankfurter Allgemeine Zeitung; Frankfurt. 18 July 2026: 25. Von Christian Schubert, La Spezia
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