From sailboat charters to yacht building
Born in Turin in 1947, Paolo Vitelli founded Azimut in 1969, when he was just 22. Initially specializing in yacht charter, the company quickly evolved into a yacht importer, launching its own models in 1975 with the famous AZ 43' Bali. But it was the acquisition of the historic Benetti shipyard in 1985 that propelled Azimut-Benetti to world leadership. This strategic takeover integrated Benetti's craftsmanship and conquered a market in search of excellence.
A strategy of international diversification
Under Vitelli's leadership, Azimut-Benetti has expanded its footprint through six construction sites in Italy and Brazil. Thanks to a distribution network covering more than 70 countries, the group exports 95% of its production, generating sales of 1.3 billion euros by 2023. Vitelli has forged collaborations with renowned designers to offer yachts that are both luxurious and innovative. Famous clients include the likes of David Bowie and Cristiano Ronaldo.
Local and international commitment
In addition to his role as entrepreneur, Paolo Vitelli has made his mark through his cultural and social commitments. In the Aosta Valley, he has restored historic structures such as the Hotel Breithorn and transformed Mascognaz into a luxury resort. He has also invested in the creation of marinas in Italy and abroad. His role as president of UCINA, from 1998 to 2006, is testimony to his influence within the Italian yachting industry.
What does the future hold for Azimut-Benetti?
Since March 2023, Azimut-Benetti has been managed by Giovanna Vitelli, Paolo's daughter. With an order book valued at 2.6 billion euros, the company looks set to continue its ascent, while honoring the legacy of its founder. This transition testifies to the group's ability to remain at the forefront of a demanding sector, in a rapidly changing world.
