China’s Shangong Heavy Industries has bought the Ferretti Group, taking over 75% of the Italian shipmaker’s capital.

Sleekly tailored with gleaming chrome accessories and luxurious saloons, the Ferretti Group designs some of the most exclusive yachts in the nautical world.

Ferretti has 8 yacht brands (Ferretti Yachts, Pershing, Itama, Bertram, Riva, Mochi Craft, CRN and Ferretti Custom Line) and owns a total of 8 shipyards.

Italian design house Gucci said it will introduce made-to-order speedboats next year, with prices starting from 590,000 euros ($750,000).

The vessels will be produced in partnership with yacht-builder Riva to help mark Gucci’s 90th anniversary in 2011.

This unique collaboration between two of Italy’s most renowned design houses celebrates the era of La Dolce Vita, when a joie de vivre, glamour and elegance defined an attitude and a lifestyle.

A crane gingerly lifts a 13-metre Riva into Lake Iseo after the last coat of varnish has dried on its mahogany finish.

The speedboat, an icon of “Made in Italy” luxury design, is going for a final spin before a potential buyer checks it out.

“Tradition and innovation, that’s what drives us,” said Paola Procopio at the shipyard.

Like many symbols of La Dolce Vita, Riva started as a family venture in 1842.

Australian designer Marc Newson has designed a speed boat in collaboration with Officina Italiana Design for Italian boat brand Riva.

Newson’s design for the Aquariva vessel is unique in its conception, as well as the materials chosen.

A wood-like, textile-based laminate (phenolic composite) was used for the deck area and instrument panel.

This material was developed in the first half of the 20th century, and was a precursor to fibreglass.

Riva has just unveiled their newest yacht for the 2010/2011 season newest yacht, the 86’ domino, at the Cannes Boat Show last week.

This latest 26 meter yacht is considered to be an evolution of the renowned 63’ Vertigo and 68’ Ego Super models.

The boat can sleep eight guests in four cabins with four crew members whilst there is space on the boat to entertain up to twenty people on board.

Italian pen makers Tibaldi have released a collection of pens for the Italian ship yard Riva.

The collection marks the first ever collaboration of these two iconic Italian brands: Riva, makers of  luxurious power boats and Tibaldi, Italy’s first fountain pen manufacturer.

All Tibaldi for Riva writing instruments are coated in exactly the same paint colours as Riva boats.