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

Editorial | Image Courtesy Of Princess Yachts International