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Princess Yachts

Princess Yachts is a yacht manufacturer headquartered in , , renowned for designing and building high-end motor yachts that range from compact sportscruisers to expansive superyachts exceeding 130 feet in length. Established in 1965 as Marine Projects (Plymouth) Ltd., the company has evolved into one of the world's premier yacht builders, producing nearly 20,000 vessels and operating in 119 countries with a workforce of approximately 2,900 employees (as of 2025) across extensive facilities spanning 1.1 million square feet. The company was founded by former Royal Navy officer David King, Brian Phillips, and Cliff Viney, initially focusing on boat chartering and maintenance before pivoting to yacht construction with the launch of its first model, the Project 31, in a modest rented shed in 1965. Key early successes included the 1969 Princess 32, the brand's first fiberglass-reinforced plastic (GRP) molded yacht and a , and the 1974 Princess 37, which introduced the flybridge motor yacht design to the lineup. In 1980, a pivotal began with naval Bernard Olesinski, whose deep-vee hull designs debuted in the 30 DS model and shaped the iconic V-Class series, emphasizing performance and seaworthiness. Ownership changes have marked significant growth phases: acquired by South African businessman Graham J. Beck in 1981, the company expanded rapidly; it was purchased by L Capital (affiliated with ) in 2008, enabling further investment in production; and in 2023, it was sold to U.S.-based KPS Capital Partners, which holds a while supporting expansion plans amid a robust valued near $1 billion. Renamed Princess Yachts International plc in 2001, it achieved milestones such as launching the 40M in 2012—Britain's largest production yacht at the time, which won the World Superyacht Award—and earning environmental certifications like ISO 14001 in 2010 and RINA Green Plus in 2011 for sustainable practices. In 2025, the company celebrated its 60th anniversary. Today, Princess Yachts offers a diverse portfolio across five classes: the V-Class sportscruisers for agile day , the F-Class flybridge yachts for versatile , the Y-Class for luxurious long-range voyages, the S-Class sportbridges blending speed and elegance, and the X-Class explorer yachts for extended adventures. Models like the V39 (starting at around 40 feet) and the X95 (nearly 100 feet) exemplify the brand's commitment to innovative features, such as advanced , interiors, and high-speed capabilities exceeding 35 knots in select designs. With shipyards in and global dealerships, including Princess Yachts established in , the company continues to prioritize craftsmanship, customer customization, and market leadership in the luxury marine sector.

Company Overview

Founding and Profile

Princess Yachts traces its origins to 1965, when David King and two associates founded Marine Projects (Plymouth) Ltd in a rented shed on Newport Street in , , initially focusing on yacht maintenance, chartering, and the construction of their first vessel, the Project 31. The company began as a small operation driven by a passion for the sea, quickly expanding into boatbuilding with the launch of the Princess 32 in 1969, which marked the introduction of the "Princess" name to its models and sold over 1,200 units during the decade. This early success established the foundation for a brand synonymous with British luxury motor yachts, emphasizing meticulous craftsmanship and performance. In 2025, the company expanded its range with the announcement of the Princess 106 Odyssey, marking a return to superyachts over 100 feet. In 2001, as the Princess name became integral to its identity, Marine Projects (Plymouth) Ltd was renamed Princess Yachts International plc, solidifying its focus on semi-custom luxury yachts ranging from 40 to over 100 feet. Headquartered in , the company operates as a leading British manufacturer, specializing in handcrafted vessels that incorporate advanced materials such as carbon fiber for enhanced strength and efficiency, while prioritizing in design and engineering. As of 2025, Princess Yachts employs approximately 2,900 people across its facilities and produces around 300 yachts annually, supported by a global sales network spanning more than 65 countries. The company upholds core values of quality and sustainability, becoming the first major European boat-builder to achieve ISO 14001 certification in 2010 for its , which includes efforts to reduce carbon emissions and waste throughout the yacht lifecycle.

Ownership and Leadership

Princess Yachts was initially established in 1965 as Marine Projects (Plymouth) Ltd by founders including David King, operating under private ownership focused on yacht maintenance and chartering. In 1981, the company was acquired by South African businessman Graham J. Beck, who provided strategic direction that expanded production and established Princess as a prominent yacht builder through investments in design and manufacturing capabilities. Beck's ownership continued until 2008, when L Capital 2 FCPR, an investment fund sponsored by (Moët Hennessy Louis Vuitton) and Groupe Arnault, acquired a majority stake for approximately £200 million, marking a shift toward brand alignment and international . In 2001, under Beck's tenure, the company rebranded from Marine Projects to Princess Yachts International plc to consolidate its global identity and support scaled operations across multiple facilities. L Capital merged with Catterton in 2016 to form , which retained ownership and emphasized product innovation and export growth, though the company faced challenges from the , resulting in operational losses. In March 2023, sold a controlling equity interest to , a U.S.-based , for an undisclosed amount; KPS injected approximately £54 million to aid recovery from post-pandemic disruptions and fund expansion into larger models up to 40 meters. This transition to KPS ownership facilitated a corporate that enhanced , with 2023 revenue reaching £310.5 million despite a £45 million operating loss attributed to supply chain issues and reduced ; as of September 2025, the order book stood at approximately $1 billion (around £780 million), securing production capacity into 2026 and signaling robust market recovery. Under KPS ownership, Princess Yachts' leadership emphasizes , operational efficiency, and global partnerships to drive sustainable growth. As of 2025, Will Green serves as CEO, having joined in and ascending from roles in sales and commercial strategy to lead post-acquisition initiatives focused on product diversification and customer experience. The executive board includes key figures such as Annie Reed as , overseeing , sales, and aftersales; Andy Lawrence as of & , guiding yacht ; James Smale as of Engineering, managing manufacturing quality; Simon Clare as of & Brand, enhancing luxury positioning; and Adrian Bratt as Chief People Officer & , handling and external affairs. These ownership changes—from founder-led private enterprise to private equity-backed structure—have profoundly influenced Princess Yachts' strategic trajectory, transitioning it from a regional builder to a global luxury marque with increased production scale, international dealer networks in over 65 countries, and a focus on high-end segments to capitalize on recovering demand.

History and Milestones

Early Development (1965–1980s)

Princess Yachts originated in 1965 as Marine Projects (Plymouth) Ltd, established by three friends in a rented shed in , , initially to provide boat maintenance and chartering services. That same year, the company built and launched its first vessel, the Project 31, a 31-foot wooden intended for chartering, which quickly sold and prompted a shift toward full-scale building. Over 150 units of the Project 31 were produced between 1966 and 1969, establishing the foundation for the company's growth in the leisure boating sector. In the early 1970s, Marine Projects developed the brand, marking its entry into branded production with a focus on innovative construction techniques. ventured into glass-reinforced plastic (GRP) molding for enhanced durability, lighter weight, and suitability for , departing from traditional wooden builds. The 32, an updated evolution of the Project 31 introduced around 1970, became the first model under the Princess name and the inaugural GRP , achieving commercial success with over 600 units built. Additionally, the 1974 launch of the 37 introduced the company's first flybridge motor , equipped with high-performance inboard diesel engines and designed by John Bennett, which was prominently featured at the London Boat Show. These developments helped navigate challenges like the , which strained the boating industry by increasing fuel costs and reducing demand. The 1980s saw accelerated growth for Princess despite ongoing economic pressures in the marine sector, including recessions that impacted leisure spending. In 1980, naval architect Bernard Olesinski joined to design larger, faster models, starting with the 30DS and forging a enduring collaboration. The 45, introduced in 1981 and recognized as the largest production motor of its time, became a defining with over 400 units sold in its first nine years, popularizing flybridge configurations with spacious layouts and reliable . Expansion continued with further iterations of larger models like the 37 series, while the 1981 acquisition by South African businessman Graham J. Beck injected capital for , enabling sustained innovation in GRP techniques and designs. These efforts solidified Princess's position as a leader in quality motor yachts during a decade of industry consolidation.

Expansion and Modern Era (1990s–Present)

In the 1990s, Princess Yachts marked a significant milestone with the launch of the Princess 65 in 1990, which was Britain's largest production yacht at the time and signified the company's entry into the market. This model, designed by Bernard Olesinski, targeted the Mediterranean market and underscored the builder's growing ambition beyond smaller craft. The decade saw nearly 40 new models introduced, including the first V Class yachts like the V39 and V40, alongside facility expansions such as a 30,000 m² site at Coypool to support increased production. A key strategic move came in 1995 with a between Marine Projects (Princess's then-parent company) and Viking Yachts in the United States, establishing North American distribution and significantly boosting exports to the region. This alliance, rebranded later as Viking Sport Cruisers, facilitated in a vital growth area. The 2010s brought further innovation with the introduction of larger models, including the Princess 40M in 2010, the builder's largest vessel to date, and the R35 in , capable of speeds up to knots and constructed from carbon fiber for enhanced performance. In 2015, to commemorate the company's th anniversary, Princess restored the original Project 31 yacht, returning it to its condition as a symbol of heritage. The period also included environmental certifications like ISO 14001 in 2010. Post-2020 challenges from disruptions contributed to operational difficulties, culminating in a £45 million deficit for the 2023 financial year due to issues and reduced productivity. Recovery efforts were bolstered by an acquisition and £54 million investment from in March 2023, enabling restructuring and capital infusion. By 2025, Princess announced a return to the 30m+ segment with models like the 106 , supported by a strong order book exceeding £700 million into 2026. Global expansion has accelerated, with 90% of 2025 production capacity sold out across many lines as of early 2025, reflecting robust demand in . In November 2025, the company announced potential redundancies affecting approximately 40 positions, primarily in management, due to a reduction in wholesale orders, following a return to profitability in 2024. The company's design excellence has been recognized through awards, including entries in the World Yachts Trophies for categories like Yacht of the Year, alongside honors such as Best Worldwide Semi-Custom Built Yacht for the 40M at the Asia Boating Awards.

Manufacturing and Facilities

Shipyards in Plymouth

Princess Yachts' origins trace back to a modest rented shed near Newport Street in , where the company was established in 1965 as Marine Projects () Ltd. This primary site has since expanded to encompass the entire Newport Street facility, serving as the for sales, marketing, finance, , and product development. Today, it plays a crucial role in design and prototyping, including the assembly of mid-sized models such as the F45, R35, F62, Y85, V78, S78, and Y78, as well as hull mould production and final testing before dispatch. A key historical asset at Newport Street is the East Ropery, a Grade I listed building constructed between 1763 and 1771 as part of the Devonport Dockyard's rope-making complex—the only such ropery to survive intact from that era. This 247-meter-long structure, originally used for spinning and twisting into ropes for , now supports ' prototyping efforts, including full-scale mock-ups for innovative designs. Its preservation underscores the company's deep ties to Plymouth's maritime heritage, rooted in the city's long-standing role as a major center since the . In , Princess Yachts secured a long-term on the South Yard, a 15-acre site within the historic , followed by the acquisition of the freehold in 2011. This facility, spanning approximately 25 acres after subsequent expansions, specializes in of larger superyachts up to 95 feet, such as the Y72, Y95, and X95, in climate-controlled halls that ensure precision craftsmanship regardless of weather. The site's strategic location on the edge of the facilitates efficient sea trials and testing, leveraging Plymouth's deep-water access and favorable conditions for maritime operations. Complementing these core sites are the Coypool, Langage, and Lee Mill facilities, which enhance capacity. Coypool, acquired in and covering 30,000 square meters, focuses on modular construction elements, including component in metal shops, kit parts assembly, loom wiring, small moulds, and canopies, alongside storage, transport, and a dedicated training center. Langage, purpose-built for the company in 1989 and expanded in the , handles major hull moulds and assembly lines for models like the V55, F55, S62, V60, V65, and S66. Lee Mill, established in the late and focused on development and moulding, includes a major mould shop for canopies and /assembly of models such as the V40, F50, V50, V50 Open, and C48. Together, these five sites form an integrated network with a total footprint exceeding 1.1 million square feet, enabling comprehensive in-house manufacturing. The Plymouth shipyards employ around 3,000 skilled artisans as of 2024, including carpenters, engineers, metalworkers, and fabricators—following adjustments from redundancies announced in late 2024—who handcraft each with a commitment to quality and innovation. The company invests heavily in workforce development through apprenticeships in boatbuilding, , , and , partnering with local institutions like City College to train the next generation of maritime professionals and preserve traditional craftsmanship.

Production Processes and Capacity

Princess Yachts employs modular construction techniques, leveraging computer numerical control (CNC) for precision in component fabrication across its production lines. This approach allows for efficient assembly of yacht sections, integrating advanced manufacturing to ensure structural integrity and design accuracy. Hulls are primarily produced using resin infusion molding, a vacuum-assisted process introduced in 2005, where low-viscosity and vinylester resins are drawn through layers of non-crimp fabrics to achieve optimal resin-to-fiber ratios and flawless laminations. are handcrafted by skilled artisans, incorporating detailed and hand-stitched elements to deliver luxury, with ongoing exploration of biological and eco-friendly materials to enhance . Quality assurance at Princess Yachts is integrated throughout the build process, supported by digital tools such as and Teamcenter software, which streamline design-to-production workflows and maintain engineering excellence from initial modeling to final assembly. Each yacht undergoes rigorous in-house sea trials in to verify performance, handling, and systems functionality under real-world conditions. All models comply with Category A ocean-going standards, certifying their suitability for extended offshore voyages in winds up to Beaufort Force 9 and significant wave heights of 4 meters or more. The company's production capacity supports an annual output exceeding 300 yachts, with 90% of 2025 builds already allocated as of early 2025 through a robust surpassing £700 million extending into 2026. High levels of are standard, enabling owners to personalize layouts, finishes, and features while retaining semi-custom efficiencies. The draws from UK and European suppliers, including partnerships with and MAN for propulsion systems, ensuring reliable integration of twin diesel engines typically ranging from 900 to 2200 horsepower per unit. Sustainability initiatives include adherence to the for minimizing production waste and emissions, alongside ISO 14001 certification achieved in 2010 for environmental management. Resin infusion technology reduces styrene emissions during hull fabrication, and facility upgrades such as biomass heating and solar panels contribute to lower carbon footprints. Princess Yachts is investing in efficiency improvements, including research into electric and propulsion options for future models to further enhance environmental performance.

Yacht Range and Design

Current Classes and Models

Princess Yachts maintains a diverse lineup of motor spanning 40 to 95 feet, categorized into six primary classes as of 2025, each tailored to specific preferences from day to extended voyages. All models feature semi-customization options, allowing owners to personalize interiors, layouts, and finishes while adhering to the brand's emphasis on craftsmanship and performance. Prices range from approximately £500,000 for entry-level models to over £10 million for flagship superyachts, reflecting advanced materials like resin-infused hulls and or engines. The V-Class comprises sportbridge yachts designed for agile day and weekend getaways, emphasizing open-air socializing and high speeds up to knots. The V40, at 40 feet, serves as the entry-level model with a compact yet versatile layout for 6-8 guests, ideal for coastal exploration. Larger variants include the V50 (50 feet, 3 cabins), V55 (55 feet, 3-4 cabins), and V65 (65 feet, 4 cabins), offering expansive sunpads, wet bars, and docking for effortless handling in varied conditions. These models target active owners seeking performance without sacrificing comfort, with fuel-efficient hulls enabling ranges up to 300 nautical miles. In contrast, the Y-Class focuses on luxury for long-range voyages, accommodating 8-10 guests across 4-5 opulent cabins with speeds of 25-30 knots. Spanning 72 to 95 feet, the lineup includes the Y72 (72 feet, extended hull windows for panoramic views), Y80 (80 feet, full-beam master suite), Y85 (85 feet, enhanced stabilization), and Y95 (95 feet, the flagship with tiered decks for privacy). In September 2025, a six-stateroom configuration was unveiled for the Y95. These yachts prioritize refined interiors, including finishes and crew quarters, appealing to discerning clients desiring transoceanic capability with ranges over 1,000 nautical miles at cruising speed. The F-Class represents traditional flybridge models optimized for family-oriented cruising, ranging from 45 to 65 feet with layouts supporting 4-8 guests and speeds around 30-35 knots. Key offerings are the F45 (45 feet, 2-3 cabins, compact flybridge helm), F50 (50 feet, hydraulic platforms for tenders), F55 (55 feet, raised bridge for views), F58 (58 feet, 3-4 cabins with optional skylounge), and F65 (65 feet, 4 cabins, largest in class). The F54 (54 feet, open ), announced in September 2025, is scheduled for launch in 2027. These yachts feature generous cockpits, al fresco dining areas, and stable deep-V hulls, making them suitable for multigenerational voyages along Mediterranean or routes. For performance enthusiasts, the S-Class delivers sport yachts with open-plan designs and speeds surpassing 35 knots, sized 65 to 80 feet for 8 guests in 4 cabins. The S65 (65 feet, aggressive styling with fold-out balconies), S72 (72 feet, 40-knot top speed, expansive sportbridge), and S80 (80 feet, integrated garage for water toys) blend speed and sociability, targeting owners who value dynamic handling and seamless indoor-outdoor flow during high-speed passages. The X-Class caters to adventurous explorer-style with bold, innovative styling and extended capabilities, measuring 80 to 95 feet for 8-10 guests at 25-28 knots. Models include the X80 (80 feet, multi-deck versatility), X90 (90 feet, enhanced fuel tanks for 1,500+ range; announced in September 2025), and X95 (95 feet, Vista-inspired open decks). These yachts emphasize rugged , zero-speed stabilizers, and ample storage for expeditions, appealing to clients pursuing remote destinations with luxury intact. Announced in 2025 and set for launch in 2026, the C-Class provides compact, affordable entry into luxury with the 48-foot C48 and C48 Open variants, achieving over 50 knots for versatile coastal use by 6-8 guests in 2 cabins. Featuring contemporary open layouts, retractable awnings, and customizable consoles, these models offer an accessible yet premium experience for day trips or short overnights, with controls and efficient outboard or inboard engines.

Design Philosophy and Innovations

Princess Yachts' design philosophy emphasizes a harmonious blend of British craftsmanship and sophisticated aesthetics, prioritizing performance, comfort, and personalization to create yachts that serve as seamless extensions of the owner's lifestyle. This approach focuses on maximizing space efficiency through innovative layouts that ensure effortless onboard living, while deep-V hull designs enhance seaworthiness and stability in varied conditions. Owner customization remains central, allowing tailored interiors and features that reflect individual preferences without compromising structural integrity. Key innovations include the adoption of carbon fiber construction in hulls starting in the late 2010s, which provides lightweight strength and reduces overall weight by up to 20% compared to traditional materials, improving speed and handling. Maneuverability is advanced through integration of joystick controls paired with Volvo Penta IPS propulsion systems, enabling intuitive docking and precise control even in tight spaces. Interiors incorporate smart technologies such as integrated Garmin navigation systems, Wi-Fi connectivity, and wellness-oriented features like expansive glazing for natural light, fostering a modern, connected environment. Performance is optimized via hydrodynamic hull refinements, including deep-V forms that deliver enhanced and reduced at cruising speeds, contributing to longer ranges and lower operational costs. Advanced mounting techniques further minimize noise and vibration, ensuring quieter voyages. Princess Yachts has incorporated options on models like the X95 since 2022, combining and electric drives for reduced emissions and greater . This includes the introduction of fast hulls on larger yachts, alongside efforts to incorporate eco-friendly materials. The brand's ergonomic designs have earned recognition, including a Judges' Commendation at the 2025 BOAT Design & Innovation Awards for the S80 in the Best New Series category.

Key Partnerships and Projects

Collaboration with BAR Technologies and Pininfarina

In 2018, Princess Yachts initiated a collaboration with BAR Technologies—derived from Racing—and the Italian design firm to develop the R35, a high-performance sports that integrated cutting-edge racing-derived with styling. This partnership aimed to fuse America's Cup-level hydrodynamics with elegant automotive-inspired aesthetics, marking Princess's entry into the foil-assisted segment. BAR Technologies contributed the Active Foil System (AFS), an automated mechanism that adjusts 100 times per second using and to minimize drag, enabling top speeds of 45–50 knots while providing a smoother ride and up to 30% better . handled the exterior and interior styling, drawing from heritage to create a sleek, aerodynamic profile with sharp lines and premium materials, complemented by Princess's full carbon fiber construction via resin film infusion for a 25% weight reduction. The measures 35 feet 9 inches in length with a of 10 feet 8 inches and is powered by twin 430-hp V8 petrol engines. The R35, a 35-foot foiling sports yacht, debuted at the Yachting Festival in September 2018 before its public unveiling at the International Show in 2019, where it showcased its foiling capabilities for enhanced stability and reduced pounding in rough seas. Production was limited to approximately 20 units annually, emphasizing its exclusivity as a hand-built model from . The model was discontinued in 2024. The collaboration yielded significant recognition, including the Best Yacht Design Innovation award at the 2019 Asia Boating Awards and a finalist nomination in the Sportboats category at the 2020 Motor Boat Awards.

Other Strategic Alliances

In 1995, Princess Yachts formed an exclusive alliance with Viking Yachts to establish U.S. distribution, resulting in the creation of the Viking Sport Cruisers brand, which introduced Princess models to the market and laid the foundation for sustained North American presence despite the brand's discontinuation in the . Princess Yachts maintains long-standing relationships with engine suppliers, including for diesel propulsion in models like the V39 since at least the early 2010s, and for high-performance V8 and V12 diesels in larger yachts such as the S80 and X80. More recently, the company has integrated 's Smart Hybrid Experience system, providing up to 250 mhp of additional electric boost for models like the X95 and Y95, advancing sustainable propulsion options. For design and technology enhancements, Princess Yachts collaborates ongoing with , utilizing NX and Teamcenter tools to develop digital twins that optimize production processes, from design verification to manufacturing efficiency across its five southwest sites. In the 2020s, the company has forged sustainability pacts with eco-materials firms, including Dart & Grey for initiatives that repurpose surplus yacht fabrics into fashion items, and Ecoworks Marine for biodegradable cleaning products, aligning with broader environmental goals like . Princess Yachts operates an extensive global dealer network comprising over 30 specialized partners, such as Galati Yachts in the United States and Sunazure NextWave in , facilitating sales, service, and joint marketing efforts at events including the Show. These alliances have significantly boosted exports, which account for over 90% of sales, and enabled market entry into the region through 2010s partnerships like those with China Haidian in and Boat Lagoon Yachting in .

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