Princess Yachts, the renowned luxury boat builder, weighed anchor in Hong Kong yesterday for its Annual Rendezvous with owners, industry insiders and friends of the brand. We interviewed Adam Waters, General Manager of Princess Yachts Greater China, to get the inside scoop on the Asian yachting market and some top tips on buying a boat of your very own.
What sets Princess Yachts apart from other luxury yacht manufacturers?
I believe there are many things, although if I would to narrow it down to 3 points they would be:
Performance – Princess Yachts has always been at the forefront of designing strong, fast, sea-worthy hulls utilising the latest construction methods and materials. As an example, at the Cannes Yachting Festival, we launched a revolutionary carbon fibre day boat with a unique foiling system that was designed in partnership with the BAR land Rover America’s cup racing team.
Build Quality – Handcrafting yachts for over 50 years in South West England gives you a unique advantage over the competition, and the experience and skill of our 3,500-strong workforce translates into the beautiful yachts, both inside and out.
Design – Princess Yachts is part of the LVMH group which gives us a unique opportunity and access to some of the world’s most famous fashion houses. Last year we built a custom project – a 88ft motor yacht with full Hermes Interiors – and we are now working on a Fendi Casa project for 2020… Although I can’t reveal too much on that for the moment, just watch this space…
How important is Hong Kong as a market for Princess Yachts and why?
The Hong Kong and China markets are extremely important for Princess Yachts. We have experienced exceptional growth over the past 3 years and the short / medium term outlook is very bright. The boating culture is relatively established and continually growing in Hong Kong compared to some other areas in Asia, while also boasting the largest ultra-wealthy population globally. With the city primed for larger yachts, Hong Kong will be a perfect launch platform to release some of our exciting new models.
What trends do you see in the Asian markets in terms of buying luxury yachts?
The market is certainly growing, and the trend is for larger yachts that offer generous internal space, big fly bridges and comprehensive stabilization options. Fortunately our vessels ticks all those boxes and much more!
Can you share three tips for investors looking to purchase a luxury yacht?
Firstly, purchase through a builder / local distributor that has the skills to deliver what they promise, in terms of customization, service and quality. Also, find a local team with strong service, backup and support systems. I suggest any potential owner to talk to existing customers of the brand to understand how their experience has been as well. Finally, don’t just shop on discount. More often than not, as with anything else, if the price seems too good to be true there is usually a reason for it.
Thank you.
Interview by: Tenzing Thondup