A Quiet Revolution at a Storied British Yacht Builder
Princess builds incredible boats. Their 45 Fly fully-equipped lists for about $1.5MM USD. Competitors models range around $1.2 MM. (Mind you they are discounted nicely.) That said, their story is almost fairy-tale-like.
“Antony Sheriff came to Princess yachts three years ago, not long after leaving McLaren Automotive. He expected to bring lessons learned from making supercars to yacht manufacturing, a hidebound business famous for losing money the old-fashioned way—hand over first when times got tough…
The timing of the turnaround couldn’t be better. The current economic climate, with a growing class of super-rich, has been good for the yacht trade, and Princess, which earned almost £30 million ($36 million) on revenue of some £340 million in 2018, has been among the lucky beneficiaries. Its books are filled through the year and well into 2020, with more than £700 million in …
Read more at: https://www.bloombergquint.com/pursuits/princess-yachts-bernard-arnault-backs-reshaping-an-industry
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