The Beneteau Group shared its vision, unveiled new products and discussed how to respond to an "uncertain market" at the Cannes Yachting Festival, which opened from 10 to 15 September.
For 140 years, Beneteau Group has been listening to its customers, innovating and making bold strategic decisions. This year, Beneteau Group once again launched 14 new models, pursuing dynamic expansion in an uncertain market. The 47th edition of the Cannes Yachting Festival offers the only multi-professional opportunity on the market to look back on its current state and share its vision.
In an uncertain market, Beneteau prepares for tomorrow with confidence and conviction
Staying strong in the face of a slowing market
Beneteau Group said it has launched 14 new models this year and remains strong despite a slowing market. After a historic year of revenue in 2023, driven by the post-Covid boom and four-year transformation plan, the company must "show flexibility in responding to the challenges of its industry, whether economic, demographic, industrial or environmental," the company reported. These headwinds are not always easy to navigate, but they have shaped the history and reputation of France's industrial leaders.
Prepare for the market recovery
The company said improving inventory and reinvesting in production sites have enabled the group to prepare for the market recovery, allowing the company to be "ready to react at the first sign of a resumption of activity".
Thivoyon highlighted the conditions for a successful recovery: "Adapt to the uncertainty of the market and become stronger. Accelerate our roadmap in a pragmatic way, centered on improving the customer experience. And continue to innovate and provide new yachting solutions. I believe we are on the right track in these three directions. ”
In July, Beneteau Group's boating division reported a significant drop in revenue in the first half of the year, down 32% compared to a record 2023, mainly due to an expected change in dealer inventory levels.
Beneteau Group said that the inventory levels of dealers are gradually improving. The yachting industry is expected to regain momentum after the election period, particularly in the United States, when the consumer market typically shows some hesitation.
The group said it had chosen to continue investing, especially at its production sites, and to further promote its innovation policy. The group also reiterated the importance of the boat show. The season kicked off with Cannes, followed by Southampton, Genoa, La Rochelle and Düsseldorf.
Yacht Market Trends
Beneteau Group has now said it expects interest rates to be likely to fall, while recognising that post-Covid inflation is the new key factor to consider. Its positioning in three product areas and its ability to expand its offerings to meet a wider range of needs are its main assets.
The group said understanding and adapting to the rise of AI in the yachting industry landscape will be key moving forward. Its Seanapps app, which already has 10,000 connected vessels, will serve as a solid foundation in this space.
Finally, the group expects significant demographic changes, such as an aging population, the aspirations of new generations, and income disparities. New solutions have been provided in terms of products and services.
Market segments
The Beneteau Group has redesigned its organizational structure around three market segments: day yachting, water properties and sailboats.
Day Yacht: Strengthen the brand's presence in Europe and expand the United States brand globally
The Beneteau Group's day yachting division is made up of five brands – Beneteau, Jeanneau, Wellcraft, Four Winns, Scarab – and 78 models ranging from 6 to 14 metres. In a market heavily affected by inflation, particularly in the United States, the group continues to launch new products aimed at consolidating its position in Europe while expanding in the United States.
Arnold & Son's new Merry Fisher 895 Sport Series 2 focuses on nautical and athleisure, with comfortable interiors, large cabins and modular space for water sports equipment.
The launch of the Four Winns TH36 with hydrofoil achieves sustainability and sailing comfort. The integrated hydrofoil and design enhance watergliding capability and reduce drag by 25%.
Four Winns TH36
Water Real Estate: Continue to advance the high-end market strategy while expanding the product range.
In this market segment, the group's Beneteau, Jeanneau, Prestige and Delphia brands offer 23 types of Fortune, ranging in length from 10 to 24 meters. The objective of the division is to strengthen the value strategy and expand the product.
The customer experience is at the heart of the new Beneteau Swift Trawler 54, with cabins and indoor/outdoor spaces offering 360° views of the surroundings. This model is available with electrically stabilized fins. Its 18 solar panels and lithium batteries provide 8 hours of autonomous driving on board.
Swift Trawler 54
For the PRESTIGE brand, space and comfort on board are the guiding principles of the new models in the "Art de Vivé" range. At the launch ceremony in Cannes, Prestige launched the latest M7 and flybridge version of the Prestige F5.7.
Sailing: Expand the product range to reach the widest possible audience.
As a global leader in its field, with its four brands – Beneteau, Jeanneau, Lagoon and (Beyond) Execess – with 38 models ranging from 4 to 24 metres worldwide, the Beneteau Group has been setting the standard for sailing for 140 years with its monohulls and catamarans. Today, the Group continues to inspire dreams by expanding its product range.
Six new models have been launched this year, demonstrating the Group's relentless ambition and vision.
First 30
In particular, the First 30, the soul of the Beneteau brand, has been completely redesigned and equipped with Seanapps connectivity. It is also focusing on more affordable prices, reaching a wider audience with a threshold of 100,000 euros without sacrificing safety, design or comfort.
The new Excess 13, which will be launched in 2025, has been completely redesigned by Marc Lombard Yacht Design: a lighter and stronger boat that offers passengers unprecedented comfort without losing the feeling of sailing, which is in the DNA of the Excess brand and its affectionate commitment to every sailor.
Excess 13
Lagoon, the global leader in catamarans, unveiled four new models – the Lagoon 38, 43, 60 and 82 – at the Cannes Yachting Festival, a move that not only demonstrates the brand's keen insight into market needs, but also responds to the diverse expectations of its customers.
Gianguido Girotti, CEO of the Boat Division, summed up the group's position: "We put the user experience at the heart of our strategy and believe that by improving the onboard experience, we will meet the expectations of our customers. We are developing new products and services that provide sustainable and accessible boats for all generations and for all uses. ”
Corporate Social Responsibility (CSR)
The group has set a target of reducing CO2 emissions by 30% by 2030 and is focused on three pillars of action, namely boat construction, alternative propulsion systems and the use of new materials such as recyclable Elie resin, which has been integrated into the Beneteau Oceanis Yacht 60 model. Today, the group announced two new initiatives that combine sustainability and customer experience.
1 – Island Cruise Boat: A Redefinition of Space, Silence and Energy
Damien Jacob, Director of Product Development at Beneteau Group, said: "The Island Cruise is a concept vessel based on an in-depth analysis of data from 1,000 vessels connected to Seanapps, covering the practices of 180,000 users. "The study shows that the main expectation of boat owners is to enhance the outdoor experience, simplify the skills required, and focus more on sustainability."
According to Beneteau, the Island Cruise meets these needs by "providing the comfort of an exceptional waterfront home, designed with space and quiet in mind." It uses hybrid propulsion technology and a new generation hull. At the same time, noise and vibration are minimized, energy management is fully autonomous, and fuel consumption is expected to be reduced by 50%.
2 – Launch of the Lagoon 620 NEO Program – End-of-Life Management
WITH ITS LAGOON BRAND, THE BENETEAU GROUP IS FURTHERING ITS APPROACH TO CORPORATE SOCIAL RESPONSIBILITY WITH THE "LAGOON 620 NEO INITIATIVE". The launch of the Lagoon 620 NEO program involves the refurbishment of an existing catamaran to the same quality standards as a new one, with a manufacturer's 2-year warranty. The company said the initiative aims to contribute to the management of end-of-life vessels to meet the growing demand for a circular economy and support customers in the wake of inflation.
Digital & Sharing Economy: Beneteau Group is in a strong position
Technology and demographic shifts are changing the way navigation is used. The Beneteau Group foresaw this shift several years ago and launched a series of key initiatives. THE SEANAPPS PROJECT, WHICH WAS LAUNCHED THREE YEARS AGO, NOW HAS 10,000 VESSELS IN EQUIP AND REPRESENTS THE WORLD'S LARGEST FLEET OF CONNECTED VESSELS. It's not just a database, it's the first step towards a smarter approach to boating.
At the same time, the Group and WIZIBOAT fully embrace the new reality of the sharing economy. WIZIBOAT's more than 30 yacht bases in Europe complement the group's existing boat charter network, which already works with Your Boat Club in the United States. Finally, Le Boat, Europe's leading river cruise company, recently decided to renew its fleet in Europe with Delphia boats and expand to United States, which also strengthens the group's expertise in ship charter.
conclusion
Bruno Thivoyon, CEO of Beneteau Group, said: "For 140 years, Beneteau Group has been constantly adapting to market changes. When the market slows down, we have to launch the right new models and take proactive action to deal with future trends. Innovation is the key to market recovery and emerge stronger in the future. Once again, our team has demonstrated their agility and ability to change to continue our mission: to turn dreams into reality. ”