Our seven brands, including Riva, Wally, Ferretti Yachts, Pershing, Itama, CRN and Custom Line, are globally recognized as a symbol of luxury, exclusivity, Italian design, quality, craftsmanship, innovation and performance. We design, produce and sell luxury composite yachts, made-to-measure yachts and super yachts from eight to 95 meters, offering the full spectrum of functionalities and an increasing range of ancillary services, catering to the personalized tastes and requirements of our clientele. With our market leadership, rich history, unparalleled brand portfolio and dedication to luxury, we are positioned as the trend-setter of the global luxury yachting industry and the ambassador of the Italian nautical excellence to the world.

This model relies on the autonomous teams dedicated to each brand. They carry out the product development process and formulate and manage sales and communication strategies and all the activities to unlock the commercial potential of each of the brands, thus nurturing their unique identity and deepening their distinctive value proposition. Meanwhile, we can benefit from enhanced operational efficiency from the centralized functions at the Group level, such as procurement and engineering. Such a competitive multi-brand business model enables us to safeguard and promote the distinctiveness of each brand, while ensuring the sharing of operational best practices across our brands and de-risking the overall business model, enabling fast reactions to any changes in customer tastes, preferences and behaviors.

In particular, we maintain our in-house sales team through a network of sales offices strategically located in (i) Milan, London, Monaco and Palma de Mallorca (covering the EMEA market); (ii) Fort Lauderdale, Palm Beach, Naples and Sag Harbor (covering the AMAS market); and (iii) Hong Kong and Shanghai (covering the APAC market). As of September 30, 2021, our sales network consisted of our in-house sales team comprising 96 employees, 52 dealers and more than 300 brokers. We pride ourselves in the way that we directly engage and serve our end customers with personalized product offerings and services, laying the foundations for long-lasting relationships and great customer satisfaction. Moreover, we believe that our dedicated brand promotion campaigns such as our participation in renowned boat shows, our branded lounges in exquisite locations in Italy, Monaco, Greece, Croatia, Spain and France and our various sponsorship arrangements, have enhanced the high-end positioning of our brands and helped us to cultivate an exclusive community of luxury yacht customers, thus nurturing a stronger sense of belonging and the growth of our high-value customer base.

We design and manufacture luxury interior fittings and customized furnishings for our yachts on a vertically integrated basis, as part of our ongoing efforts to meet the demands for high-end customization and to further increase our competitiveness. Each element inside our luxury yachts is to be carefully selected and tailor-made by professional nautical craftsmen, following techniques that were handled down over generations, blending tradition, modernity and our dedication to customization. This dedication and attention to design, we believe, is a core strength in delivering an item that is viewed as irreplaceable and unique. We also operate a refitting facility in Fort Lauderdale, with the view to further expanding the offering of our after-sales and refitting services and strengthening our positioning in the U.S. market. In addition, in order to reinforce a stable supply of high-quality key inputs, we are currently in the process of internalizing a strategic portion of our GRP and carbon-fiber hull production.

The comprehensive yachting ecosystem that we created, which encompasses luxury yachts and ancillary services, allows us to enhance customer satisfaction and loyalty. Our ancillary businesses provide synergies with our core business with an all-encapsulating portfolio, comprising: (i) yacht brokerage, chartering and management services; (ii) after-sales and refitting services; (iii) brand extension activities, such as the merchandizing line of lifestyle collections; and (iv) manufacturing and installation of wooden furnishings for nautical interiors. In certain instances, we also offer trade-in opportunities to our customers as a complementary service and a lever to facilitate the sales of new yachts. In addition, we tapped into the global coastal patrol and rescue vessel industry with the launch of FSD (Ferretti Security Division), our security vessel business division. By leveraging our accumulated know-how and resources and by exploiting already existing product platforms, we are well positioned to seize the growing opportunities in this flourishing market.