Princess Yachts is a fine example of a luxury lifestyle company that has succeeded in overcoming some of the challenges of the global crisis in the economy. Princess, a UK manufacturer of lifestyle yachts is an international provider of such products for the world’s elite boat owners. The company has been in business since 1965, and originally focused primarily on the production of 20- to 30-foot ships. Five years later, the company started producing yachts with the launch of its acclaimed Princess 32.

After more than 40 years of experience, Princess has come to be considered a pillar of the luxury boat industry. Originally, its founder, David King, named the company Marine Projects (Plymouth) Ltd. Since then, it has introduced 80 different models of yachts to the marketplace. In 2001, the yacht manufacturer was dubbed Princess International Plc.

In the first quarter of 2009, Princess Yachts International Plc performed an in-depth strategic analysis that resulted in high-level plans to make the company stronger and poise it for success despite the economic downturn. A major component of management's new strategy consisted of an investment of millions of pounds in new facilities to be located in Plymouth along with its other sites. The plan also included investments in further skills and training of Princess’s workforce to facilitate production of more sizeable boats, including a new 130-foot flagship vessel. Unfortunately, the company’s new business strategy also included an admittedly painful reduction in workforce. More specifically, 450 employees (about 20 percent of the previous staff of approximately 2,125 people) were slated to lose their jobs.

The company, which has a strong history of honorable commitment to its employees, felt at the time that it could only continue to operate with a streamlined workforce of about 1,700. This came as a devastating blow to some workers, particularly those in certain production roles who had already seen a 10 percent reduction in their workweek hours the previous December in a bid to rescue jobs that were in danger. Even so, the company defended its workforce reduction strategy as being considerably less impactful than those of its competitors.

Only months after making the announcement about the staff cuts, Princess secured a lease which facilitated their move to a new site in the South Yard area of Devonport Naval Base, also in Plymouth. This larger new facility afforded the lifestyle boat manufacturer the space necessary to accommodate the large yacht construction that would give it a renewed competitive edge.

The new lease and entrance into the in-demand large-vessel sector allowed Princess Yachts to not only retain and expand its operations, but also reemploy several staff members that had been made redundant. Score: 2 for Princess, only 1 for the economic downturn.

Most recently, Princess Yachts was awarded the prestigious "Boat of the Year Award" for the Sports Cruiser Category. The accolade was given at the London International Boat Show, and the winning vessel was Princess V62. It is the second year in a row the manufacturer takes the prize in this category, reinforcing its mastery of the performance motor yacht sector.

Princess Yachts will attend a list of international boat shows, such as the prestigious Monaco Yacht Show in Monte-Carlo this coming September where you can view some of Princess highlighted lifestyle models. Be aware that different yachts will be on display at the various international events and that the company's website lists always the various events they plan to attend.

So, if you feel the urge to sail on one of their absolute exquisit yachts for your next holidays, it is worth going to one of the events , having a look at these superb yachts and just placing the order of the Princess of your heart!



This larger new facility afforded the boat manufacturer the space necessary to accommodate the large yacht construction that would give it a renewed competitive edge. The new lease and entrance into the in-demand large-vessel sector allowed Princess yachts to not only retain and expand its operations, but also reemploy several staff members that had been made redundant. Score: 2 for Princess Yachts, only 1 for the economic downturn.

Most recently, Princess Yachts was awarded the prestigious "Boat of the Year Award" for the Sports Cruiser Category. The accolade was given at the London International Boat Show, and the winning vessel was Princess Yachts’ Princess V62. It is the second year in a row the manufacturer takes the prize in this category, reinforcing its mastery of the performance motor yacht sector. Below is a list of events in the near future where you can view some of Princess Yachts’ highlighted models. Different yachts will be on display at different events. More details can be found on the company’s Web site.

• boot Dusseldorf : January 23, 2010 – January 31, 2010

• Miami International Boat Show: February 11, 2010 – February 15, 2010

Editorial | Image Courtesy Of Princess Yachts International