Princess Yachts International plc has signed Chart Victory Ltd, a wholly owned subsidiary of China Haidian Holdings, as its new distributor for Hong Kong, with immediate effect. The company will operate under the name Princess Yachts Hong Kong in a move that further emphasises the increased focus the British boat builder has placed on the Asia region in recent years.
Princess Yachts Hong Kong will work directly with Princess Yachts International’s manufacturing, marketing and sales facilities in the UK and utilise the strong marketing expertise of China Haidian within the market to strengthen the Princess brand’s presence there..
Chris Gates, Managing Director at Princess Yachts International plc, says, “This is a significant move for the brand. Hong Kong is an important market for us, and a key area of growth for the region. In such an important market, and as we move into larger crafts, working with the right partner is critical and so we’re delighted to have partnered with a organisation such as China Haidian holdings". “Princess Yachts Hong Kong will have the benefit of the holding company’s phenomenal experience of marketing in the high-growth Asia territory and of course their financial strength, sound business credentials and reputation in Hong Kong and we look forward to a strong business relationship in the years ahead.”
Mr Hon Kwok Lung, Chairman of China Haidian, sees a strong future for Princess in Hong Kong and is very encouraged by the boat builder’s plans. “Princess Yachts have long been admired in Hong Kong, their reputation for quality and performance is second to none but it is the level of investment the company has committed to new products and their plans for yachts over 100 feet that is truly impressive. We are extremely excited about the opportunity.”
Princess Yachts has recently released the first photographs of their new M Class yachts, the 32M and 40M, the company’s first yachts over 100 feet. Both models are to be built at the Company’s newly acquired water side facilities in close to brand’s head quarters in Plymouth. Production of the first model, the 32M, is already well underway with a scheduled launch later in 2010.