Princess Yachts Move Further Into China
Princess Yachts has introduced a new dealership in the Greater China Region in an effort to further its approach into the Asian market; a region which has been highlighted as an emerging market for the superyacht industry.
Princess Yachts South China is the new distributor for Princess Yachts International’s brand of motor yachts, completing the brand’s sales and service network across the Chinese market.
The Princess Yachts South China arm of the international group is a Hong Kong incorporated company co-owned by Eddie Law and a member company of the Chow Tai Fook group, which is owned by the Cheng family and the largest listed jewellery company in Asia. The Cheng family also manages multi-brand car dealerships in China, including Ferrari and Maserati.
Eddie Law is currently the Executive Chairman and Director of Princess Yachts South China. Prior to establishing his own investment firm, Mr. Law was a crucial figure at Goldman Sachs, overlooking the Investment Management Division and was appointed as Managing Director of Goldman Sachs (Asia) in 2007.
Together, the recognised and long-standing industry names will drive the company’s development of world-class yacht services for Princess’ owners throughout the region, including sales and customer support centres in Hong Kong, along the South China coast and as far north as Zhejiang province.
There has been a certain amount of cynicism surrounding the emergence of China as an upcoming market for the superyacht industry after a slow start over the last few years; however, with Feadship’s two recent sales to China and the Hainan Rendezvous picking up pace as a world renowned luxury yacht show, there is a lot more to come from China over the coming years.