Princess Yachts expanding into China
Published: Tuesday, 08 October 2013
Princess 40M motoryacht is attracting more and more attention and the company introduced its new 35M to the M-Class range at the recent Monaco Yacht Show. M Class Director at Princess Yachts, Richard Lambert, spoke with Superyachts.com about how the company is approaching the new emerging markets with its new designs. He explained that Princess Yachts was making inroads into the Chinese market and there was definitely interest being shown. However, as he went on to explain, the Chinese market is very different from the traditional market that they have been serving and so there is some what he called ‘market making’ to be done.
The Chinese market is much more geared to entertainment and status and boats are seen more as a social and business tool. Princess will therefore need to adapt their products to better suit that specific market and this is what they are currently exploring. Lambert appeared confident that Princess will secure a good foothold in the market in the near future.
Lambert also mentioned that the company has just secured a Regional Development Grant from the British Government and are about to embark on an 18-month redevelopment of their south yard where they will then be able to create larger yachts. Once complete this will be the best-equipped facility for constructing superyachts anywhere in the UK.