Luxury Retailers Make Forays Into The Yacht Business
Luxury behemoth LVMH - Louis Vuitton, the world's leading luxury products group is expanding into the yacht business. The company is in talks to acquire Royal van Lent, a Dutch designer and builder of luxury custom mega-yachts sold under the Feadship brand. Like most of LVMH's brands, Royal van Lent's yachts target an ultra-exclusive clientele. The company specializes in yachts over 50 meters (164 feet) which sell for an average of $44 million each. Shown above is recent build, the Archimedes.
The news comes just days after luxury group Hermes announced their joint venture with the Monaco-based yacht maker Wally on what will doubtlessly be a new line of sleek and modern luxury yachts with Hermes appointments. Both of these announcements send a strong message that these brands believe the ultra high end of the luxury market is safe and sound in any economy.
