Grouped together for several years within the Experton Revollier group, the Tofinou, Wauquiez and Rhéa sailboat and motorboat brands have been sold in 2021 to the Exel group. Its director, Cyril Ballu, answers questions from BoatIndustry.
What were the motivations for Exel Industries to buy the shipyards?
Exel Industries has been successful in all of its sectors, all of which are different, but all of which have in common that they are niche, premium and innovative sectors, with BtoBtoC marketing. A number of our technologies are present on boats. If the nautical sector is different in terms of business, it is similar in terms of technologies. As part of our diversification strategy, we looked at the Rhéa, Tofinou and Wauquiez projects, and they seemed relevant. There is a historical link between the shareholders' family and navigation, but this is clearly not the reason for the purchase.
What is the role of the new Exel yachting structure and its link with the Tofinou, Wauqiez and Rhéa brands?
Exel Yachting pilots the whole. It is now one company with 3 brands. But the company will only speak through its 3 brands, with targets that remain different. Exel Yachting is the animating company that will help them talk to their customers.
What are the plans for these brands?
It's a little early to give details. We need to refocus the brands, while remaining premium, without aiming for a large volume. The Tofinou, Wauquiez and Rhéa brands are very good brands that need to regain the DNA and dynamism of their founders. With Exel, we have the opportunity to give ourselves the means to create our own specificity.
What are the industrial and commercial projects and possible synergies?
There are industrial, product, sales and marketing issues with a lot to do. We are thinking about and planning for the evolution of our range. The different sizes of the boats between a Wauquiez, a Tofinou or a Rhea mean that they will keep a dedicated logistics. But it is certain that with two shipyards in La Rochelle facing each other, the experts will be able to help on both sides. There is an agility to be found.
On the commercial side, Rhea has a network of dealers. We are working to find a coherent approach between the three brands.
