Word: cannatelli
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...revenues climbing by building bigger instead. Rapid growth in Asia, the Middle East and Eastern Europe, particularly Russia, is taking up the slack in the U.S. and Western Europe, where sales are softer. "An explosion in the client base" of high-net-worth individuals is generating sales, says Vincenzo Cannatelli, Ferretti's CEO. These aren't people who flinch at high fuel costs. "Many of our customers are making money from the price of oil," Cannatelli says, chuckling...
...Boat Show. But scarcity doesn't hurt this industry. The small number of yachts it builds makes it less vulnerable to economic upheaval: manufacturers need only rely on a handful of customers. "It's more difficult for luxury-goods makers who have to sell hundreds of thousands of items," Cannatelli says...
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