princess yachts greater china limited

Princess Yachts Greater China Limited (PYGC)

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Written by Zuzana Bednarova

The leading UK luxury yacht manufacturer, Princess Yachts International , has reinforced its distribution network in Asia with the newly formed ‘Princess Yachts Greater China Limited’ (PYGC). The company’s representative for South China as well as Hong Kong will now take overall responsibility for the People’s Republic of China .

Known as Princess Yachts Greater China Limited (PYGC), this newly formed operation amalgamates Princess’ existing Distributor for Hong Kong, Macau and Southern China, a subsidiary of Chow Tai Fook Enterprises Limited, the flagship investment holding company controlled by Dato’ Dr. Cheng Yu Tung and family (the “Cheng Family”), with a new partner, DCH Marine Limited, a wholly owned subsidiary of Hong Kong-based Dah Chong Hong Holdings Ltd. This newly formed joint venture will allow Princess to expand its reach across China with plans already underway to create a network of sales and service centres in key locations across mainland China.

The base of operations for PYGC will remain in place within the existing offices in Central Hong Kong. Through its previous work in the south, PYGC has already established a strong record for sales and service and this new move will further improve Princess’ reach throughout the region, having already sold and delivered a number of new Princess craft up to and including the Company’s 98 Motor Yacht and 105-foot   32M Yacht .

Dah Chong Hong Holdings Limited is a Hong Kong-based conglomerate with a diverse portfolio in automotive, food and consumer products. With huge experience in the luxury market, DCH is a prominent force in the automotive sector in Greater China, with over 50 years experience. DCH was the key player in the successful introduction of Bentley Motors to mainland China and led the market to become the second largest importer for Bentley in the world.

Chow Tai Fook Enterprises Limited is the controlling shareholder of New World Development Limited, a leading Hong Kong-based conglomerate with interests in property, infrastructure and service, department store and hotel businesses. The Cheng Family also controls Chow Tai Fook Jewellery Group Limited, the world’s largest jewellery retailer with over 2,000 points of sales in Greater China.

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Princess Yachts expands in South China through DCH Marine Limited

With over 60 years of extensive experience and operational strategies in Greater China, Dah Chong Hong has successfully led Bentley China to become the second largest market worldwide. Coupled with its edges as a listed company in the Hong Kong Stock Exchange, it has long been recognized by the industry with its excellent reputation, prudence and substantial capital which solidify the good foundation for the development of its yacht business. The newly-formed DCH Marine Limited will seize growth opportunities in Greater China’s luxury market through comprehensive strategies and innovative thinking as well as to promote the development of yacht culture in China, inevitably expanding the Group’s new horizon to the luxury consumer goods industry.

Mr. Chong Got, Senior Corporate Director of Dah Chong Hong Holdings Limited, commented, “The establishment of DCH Marine Limited marks the milestone for Dah Chong Hong to capitalize opportunities for developing new business in Greater China, and extend the Group’s excellence of motor dealership and after-sale service to yachts industry. In the 21st century, the new generation identifies the right equilibrium for balancing quality of life and work. A yacht is not only the extension of personal interest to social aspect, but also a reflection of stylish lifestyle. Through Dah Chong Hong’s passion in developing yacht business and marine culture, DCH Marine Limited will put more resources and inherit the Group’s commitment to ‘Quality Excellence’ and become the best business partner accredited by more and more world-class yacht brands, making yacht experience as means of enhancing quality of life and well as the same trendy social activity as golf.”

The brand new Bentley Continental GT and Continental GTS coupes, distributed by Dah Chong Hong, were jointly launched with three Princess Yachts flagship products in Princess 32M, 98MY and 82MY presented by Princess Yachts South China. The 105-feet-long 32M is currently the second largest Princess Yachts product, setting the brand’s new standards in styling, sophistication and personalization. Also available in Hong Kong with 32M, both Princess 82MY and 98MY are equally impressive, combining elegance, strong horsepower, and luxurious and spacious surroundings. Infusing the essence of traditional ship building technique, innovative technology and unique charm of princess aura of “princess” underlines the extraordinary glamour of these three super yachts.

In the same evening, a celebration party for the establishment DCH Marine Limited was hosted by Dah Chong Hong and Chow Tai Fook Enterprises, featuring fascinating performances from premium brands including British luxury bed-maker Vispring, German porcelain brand Nymphenburg and Chow Tai Fook Jewellery, bringing the prestigious guests to an indulging yacht cruise. New owners of Princess 32M, fellow yacht owners of Princess Yachts and celebrities of the city also attended the celebration party, enjoyed the princess yachting experience and offered their best wishes for the new company.

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