Luxury goods tycoon Pinot ventures into the tourism industry, is the next cruise giant emerging?
Francois Pinault, the billionaire who controls brands like Gucci and Yves Saint Laurent, is increasing his investments in an industry far removed from the fashion world: the cruise industry.
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The "Le Laperouse" ship is used to explore destinations such as Corsica and the Seychelles (an emerging popular destination). Gastinel indicated that there may be more ships like this in the future.In addition, Gastinel and Groupe Artmis also hope to increase investment in the river cruise sector. "There are many beautiful rivers in the world that have yet to be developed, perfect for exploration," Gastinel said, highlighting the Zambezi River as a choice. "This is the direction we want to develop in and introduce a new generation of ships."
However, with Gastinel's ambitions, competition is expected to intensify. Royal Caribbean Cruises announced last month that it will enter the river cruise market with its upscale Celebrity Cruises brand, with the first batch of 10 ships expected to sail in Europe starting in 2027.
Land development
It is worth noting that the Pinault family's interest in the cruise industry extends to land and even air.
"We want to offer guests a complete product that includes accommodation, flights, etc., before and after the cruise," Gastinel said, outlining a plan that will make Groupe Artmis' cruise company a comprehensive travel company. "This is the direction we are developing in."
As for the biggest challenge Gastinel faces? It is not a matter of funds.
He is keenly aware of the contradictions of operating in remote and fragile environments, so he is committed to expanding the company's sustainability efforts. He hopes to launch the world's first net zero carbon emissions cruise ship around 2030, a 594-foot long ship carrying around 200 passengers, and powered by wind energy, CECEP Solar Energy, and non-fossil fuel batteries. This will serve as a prototype for other ships, so Gastinel is looking for orders for multiple ships.
However, during a period of rapid growth in the industry, many European shipyards are already operating at full capacity, with orders coming in from other companies. Trying to stay at the forefront of sustainability is one thing, but building capacity, as it turns out, is another.
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