Princess Yachts International plc have been working tirelessly in Norway to protect both Princess Owners and the Company’s strong reputation since the announcement in January that its local Distributor, the Johs Lunde Marine Group, had been placed into administration.
Princess Yachts are delighted to announce the return of the previous core management team; headed by Arne Hovik, Olav Stølsli and Eva Narverud, who will return to manage the Distribution of Princess Yachts in Norway, Denmark and Western Sweden with immediate effect. Returning Chief Executive of the ‘new’ company, trading as Princess Norway, Arne Hovik said, “It is exciting to be back working with such a great brand in Princess and with all the wonderful boat owners, many of whom I have known personally for years. The rate of product development at Princess during my time away is truly staggering and I am thrilled to be working with them once again as well as benefitting from all the advantages of a modern and world-class model range.”
Princess Yachts are pleased to confirm that, with the support of Arne and his team, all boats on forward order will be delivered without loss of any forward payments, and all existing new boat warranties will be fully respected. Managing Director of Princess Yachts International, Chris Gates said, “It has been a difficult time for all concerned over the last few weeks, especially for our customers. Our focus throughout has been to protect our current and future Princess owners, especially those who have placed stage payments towards their new Princess yacht. We are extremely pleased with the outcome and I believe it demonstrates once again our commitment to our loyal owners in the region.”
Plymouth-based Princess Yachts epitomises the best of British manufacture, from its quality craftsmanship, and design and engineering pedigree, to the refined elegant and luxury interior styling of its craft. The result blends cutting-edge technology with traditional craftsmanship to set new standards in performance, evident across the Princess range of sophisticated motor yachts, classic flybridge craft, dynamic V Class sporting yachts and new M Class – the ultimate Princess. The Princess reputation for design, engineering and manufacturing excellence has earned the company global appeal and established it as a truly international brand.
Princess Yachts’ 32m M Class motor yacht
Princess Yachts International was acquired in 2008 by L Capital 2 FCPR, an investment group sponsored by LVMH (Moët Hennessy Louis Vuitton) and Groupe Arnault. The LVMH group includes over 60 international luxury brands including Louis Vuitton, Christian Dior, Fendi, De Beers, Moet Chandon, Veuve Clicquot, and Krug. Other Marine interests include Superyacht builder Feadship
