[YachtForums]

Benetti Yachts was founded by Lorenzo Benetti in 1873 and is still based in Darsena, Italy. Several more yacht building facilities have been added since then, including Viareggio, Fano and Livorno. Lorenzo started the Benetti shipyard, but in 1954 Fratelli Benetti focused the business on motor and sailing yachts. Following financial difficulties in 1985, Paolo Vitelli, owner of Azimut, took over the shipyard and it became Azimut-Benetti yachts.

There are several different lines of Benetti yachts, which are made from composite materials, alloy and steel. Benetti yachts range in size from 30 meters to 70+ meters for steel construction. The shipyard has been recognized several years running by Showboats International Magazine as the #1 shipyard and Azimut-Benetti was ranked #1 one as well by Yachts International. The Best New Semi-Production Series award was also received for the Benetti Vision series yachts.

[AMG]

I think there is a Yacht Icon that must be mentioned in the history of Benetti, the 86 m Bannenberg design Nabila.
Launched in 1979 and delivered in 1980 to Adnan Kashoggi she later was purchased by Donald Trump, who renamed her Trump Princess and as a gimmick painted a big T instead of the normal H on the helipad.
Now she is owned by a Saudi Prince and is called Kingdom 5KR. I took this picture last week in Antibes where she is often found.

[marco.sargentin]

Yes, that's true... I come on board of Kingdom 5-KR two days ago... It is often docked in IYCA in Antibes...
Very amazing yacht, incredible luxury inside...
It is the longest yacht built from Benetti Shipyards in Viareggio.

[nilo]

She is the reason why the yard went down under. It is therefore not very prudent to jump in size drastically when you are building boats. You cannot estimate costs accurately and can burn yourself at the end of the project.

[marco.sargentin]

No no, sorry but I have to stopped you:
what you have sayd before is quite true, but after Nabila yacht, Benetti Shipyards has built other two vessel, so the fault is not only for the Nabila.
My father worked for Benetti and he designed the electrical system of Kingdom so I can guarantee that my version is true.
Also here in Viareggio people thinks like you, but is only an old legend!!!

[AMG]

Hi Marco,

I have a book published by Benetti where they say that Nabila was not only a loss to build, but also with heavy penalties for delays. So after this financial damage Benetti signed new contracts with very slim profit margins, just to be able to keep the workforce. In 1984 the Benetti family were "on the ropes" and then Paolo Vitelli with Azimut made a bid to the bankruptcy court of Lucca and won the bidding contest.

In short, this is what is told about the Nabila adventure.

[nilo]

Lars,

Thanks for the very good comments.

Marco,

No long established organisation like Bennetti goes under instantly. I do not know under which conditions they have accepted to build "Nabila". I cannot comprehand that such a long estalished yard will jump into a venture that will put them at such a risk. Most probably, when they decided to build "Nabila" they were already under pressure and had to take a big risk to stay afloat. However, this has turned sour and became a deadly wound. As Lars said, the next attempts were just to keep the yard afloat. Indeed, they have somehow succeeded with that strategy and were able to sell the yard to Vitelli, even if this was at a great loss. The yard still survives

[W1ka]

I worked as a steward on the first party on Nabila as she arrived in Antibes from the shipyard. It was Adnan's 40th birthday party and we peeled the protective plastic off the appliances and stocked the bars and cabinets with Baccarat glassware and his mongrammed gold plated "silverware".
I got to wander throughout the whole yacht and see the disco with the lighted floor, the yellow suede sundeck, the salons, and the amazing main deck where we served 300 guests