Princess Yachts made a splash at the recent Monaco Yacht Show, announcing a return to the 30-meter-plus (98-foot-plus) yacht market where it once thrived. Among the upcoming projects is the new Princess 106 Odyssey yacht series, marking an exciting chapter for the brand. To gain deeper insights, Megayacht News editor Diane M. Byrne had a conversation with Princess CEO Will Green.
Diane M. Byrne: Currently, you have the 95 in both the X and Y Class ranges. But is this your biggest boat?
Will Green: Not at all. We previously produced 38 boats reaching LY2 compliance, starting with a 32-meter model in 2010. After that, we expanded our range with three variations in the M Class – a 30-meter, a 35-meter, and a 40-meter – with the last 40-meter delivered back in 2018. Since then, our focus shifted to models beneath 24 meters, which made economic sense at the time. Unfortunately, this decision led to a temporary withdrawal from the larger yacht segment. Now, we’re excited to return. Starting in 2028, we will launch our new Odyssey series, featuring boats over 24 meters in length that comply with LY3 regulations. This gives our established customers who own vessels over 80 feet a pathway to expand their journey with us, especially those desiring larger options.
Diane M. Byrne: It’s commendable to maintain loyalty among existing customers, but what about capturing new opportunities? Do you see potential to attract customers from other brands?
Will Green: Absolutely! Brand loyalty in our industry is strong, stemming not only from our product quality but also from exceptional customer service and experience. While we take pride in our customer retention, we recognize the opportunity to attract new customers. We aim to create a better lifestyle for them at Princess, showcasing our product quality, craftsmanship, seakeeping, and performance. We are vertically integrated, employing over 2,000 skilled boat builders in Plymouth dedicated solely to crafting Princess Yachts. Our return to the superyacht scene is thrilling for us.
We’ve been perceived as a stable brand during tumultuous market periods. For instance, during the global financial crisis, customers gravitated towards established brands. We capitalized on this, increasing our market share. Despite the current challenges following COVID-19, our brand remains viewed as a safe investment, which makes our new initiatives even more exciting.
Diane M. Byrne: Will the Odyssey 106 design be semi-custom?
Will Green: Yes, it’s designed to be more semi-custom than we’ve previously offered. As a production yard, while structural bulkheads will remain fixed, we expect each 106 to have unique features. We want to provide as many alternative layouts as possible in our configurable specs for the Y 95 and other major projects. Our focus is on optimizing onboard space and capturing customer desires for personalization without starting from square one. Our past experience helps us merge customization with efficiency.
This model will also boast impressive volume – 254 gross tons for 106 feet – representing an exciting evolution of the Princess hull design. Our customers often cruise at displacement speeds but appreciate the option for speedier voyages. Collaborating with our long-term naval architects, Olesinski, we’ve developed a new hybrid fast displacement hull, featuring a fine entry point and twin chines transitioning into round bilges. This design significantly reduces transom immersion, decreasing drag and enhancing efficiency. With a similar fuel capacity to the Y 95, we’re looking at a cruising range around 2,500 nautical miles with the possibility to reach nearly 20 knots.
Diane M. Byrne: If you were explaining the new Princess Yachts superyachts to a potential client, what would you emphasize beyond merely offering a larger yacht?
Will Green: Two main aspects that resonate with a Princess client are our hand-built British craftsmanship and exceptional seakeeping and performance. Our clients often recognize this value after touring our facilities in Plymouth, where a massive production capacity is visible. Craftsmanship runs deep within our operations; you can see it reflected in the skilled workforce. Regarding seakeeping, every model undergoes testing in the challenging environments of the English Channel, where conditions are frequently tough. These two factors keep clients returning to us.
Moreover, we don’t shy away from showing our products at major boat shows, even when competitors are present. We aim to approach our work with humility and a desire for constant improvement. David King, a mentor of mine, taught me an invaluable lesson: “Study your competitors to learn what they do well, but analyze your work to find improvement opportunities.” This philosophy has shaped our design and manufacturing process, ensuring we continuously strive for excellence and offer superior customer experiences.
We also understand that our customers live aboard these yachts extensively, making their insights crucial in developing the next generation of Princess vessels. Their feedback has been invaluable, as they are genuine boaters who spend meaningful time on their yachts with family and friends, which significantly influences our design evolution and product development.
Diane M. Byrne: Are there any specific size thresholds you’re considering for the new Princess Yachts superyachts?
Will Green: Not particularly. We maintain an open-minded approach. When we developed our 40-meter trideck, we were mindful of encroaching on metal vessel designs, which is unfamiliar territory for Princess. However, we are open to returning to build in this range once again. We’re starting with our 106 and will evaluate further developments based on its success.
Diane M. Byrne: It sounds like you remain flexible in your vision. Do you have a set number of models planned for this range?
Will Green: Not right now. We currently have two models we’re considering as we work on molds and prototypes. Our objective is not to become the largest yacht builder globally, but to sustain a viable and profitable operation. This will allow us to continue investing in innovative products that cater to our customers’ needs. Whatever avenues that may lead us down will emerge in due time.
For more information on Princess Yachts, visit their official website at princessyachts.com.