LVMH’s Princess Yachts launches in India
Yacht making firm Princess which is owned by world’s leading luxury group LVMH has announced formal entry into India throygh an official distributor, aiming to sell up to five luxury boats in the next year.
Princess yachts will sell in India from US$ 800.000 to US$ 6 million. Princess has entered into an exclusive arrangement with Indian yacht retailer Navnit based in Mumbai and will sell the entire range of its yachts in India.
Princess, the UK-based company, which was acquired by LVMH in 2008, is also designing a 39-footer yacht, which will be its smallest.
According to Navnit Marines, which has a tie-up with five more yacht-makers, demand for the super-luxury machines continues to be strong even in the present economic situation. Navnit has sold around 100 yachts of various sizes since its launch in 2002, the absence of supporting infrastructure like marinas hindering development.
adapted from Indian Express