Princess Yachts Strengthens Distribution Network In China
Published: Monday, 07 July 2014
British boat builder, Princess Yachts International, has strengthened its distribution network in Asia by announcing that its representative for South China and Hong Kong will now take overall responsibility for the People’s Republic of China. Known as Princess Yachts Greater China Limited (PYGC), this newly formed operation amalgamates Princess’ existing distributor for Hong Kong, Macau and Southern China, a subsidiary of Chow Tai Fook, with a new partner, DCH Marine Limited, a wholly owned subsidiary of Hong Kong-based Dah Chong Hong Holdings Ltd. This newly formed joint venture will allow Princess to expand its reach across China with plans already underway to create a network of sales and service centres in key locations across Mainland China.
The base of operations for PYGC will remain in place within the existing offices in Hong Kong. Through its previous work in the south PYGC has already established a strong record for sales and service and this new move will further improve Princess’ reach throughout the region, having already sold and delivered a number of Princess craft.
Dah Chong Hong Holdings Limited is a Hong Kong-based conglomerate with a diverse portfolio in automotive, food and consumer products and over 50 years experience in the market. DCH was the key player in the successful introduction of Bentley Motors to Mainland China and led the market to become the second largest importer for Bentley in the world.
Chow Tai Fook Enterprises Limited is the controlling shareholder of New World Development Limited, a leading Hong Kong-based conglomerate with interests in property, infrastructure and service, department store and hotel business.