Princess Yachts' class doubles with Louis Vuitton parentage

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Seems like a typical English-French Love Affair...

Princess Yachts, one of the world's finest and most popular name in boating - has been acquired by the the world's largest luxury conglomerate - Louis Vuitton Moet Hennessy...better known as LVMH.


Bernard Arnault, the French luxury goods billionaire, is managed to add luxury motor yachts to his collection of handbags, watches, perfumes and champagnes.

Lastly, the L Capital had acquired another superior luxury British brand in the form of Aston Martin in Feb '07.

OFF-THE-BLOCK

Going at an estimated sum of £200 million, The Plymouth-based business has been acquired by a consortium by Mr Arnault: LVMH, the luxury goods company run by him; Groupe Arnault, his private investment vehicle; and L Capital, a private equity firm backed by Groupe Arnault and LVMH.

Sold by Graham Beck, a South African billionaire who made his fortune in coal, property and wine. Known as one of the world's leading race-horse breeders, with stud farms in South Africa and the United States.

He put the business up for sale about a year ago through Cavendish Corporate Finance, although he is understood to have rejected higher offers from parties planning to fund the purchase with debt.

PRINCESS

Princess Yachts was founded in 1965 as Marine Projects (Plymouth) Ltd to fit out and charter the Project 31, the first boat to be built at the company’s original factory facilities in Plymouth. It moved to its current purpose-built headquarters in 1997 and now distributes boats all over the world.


Princess Yachts was acquired by accident when he took over the Renwick Group in 1981. Under Mr Beck it has expanded to become one of Britain's biggest motorboat manufacturers.

LVMH

LVMH, the world's biggest luxury goods group, is best known for its Louis Vuitton handbags, Tag Heuer watches and Moët & Chandon champagne.


The group a part of the CAC40 companies of France, it has around 60 sub-companies with 60,000 employees under its umbrella.

Aston Martin, Tag Heuer, Acqua di Parma, Hennessy, DKNY and more are some of the famous brands...

INDIA...

What this means to India?

Well if it didnt mean much, then we wouldnt be going into so many details. But surely expect a BIG push for Princess Yachts coming your way in the near future.

With LVMH being big about re-inventing their model portfolios from time to time so that they can be trendsetters, expect newer models being sold worldwide through a larger distribution channel.