The new owners of Privilege Marine, the French luxury catamaran builder, plan to at least double production at its modern 20,000sq metre Les Sables d’Olonne shipyard at 20 or more units a year from the 10 built in 2023. The company employs some 200 people and its order book is valued at around 50 million euros.
It is very much a year of change for Privilege Marine being not only under the new ownership of the Czech-headquartered investment group PPF acquired the brand last year but it also has a new CEO, Gildas Le Masson who has held his new position for just a few weeks. He was formally the CEO of Nautitech and his appointment is part of a new operational structure at Privilege Marine.
This new structure includes the plan to increase production as well as on-going product development initiatives which Le Masson explained to The International Yachting Media at the International Multihull Show 2024(IMS 2024) held earlier this month in La Grande Motte, and includes upgrades to a number of the brand’s current range of four luxury semi-custom catamarans. Additionally, new models will be introduced from autumn 2024 to provide the best possible answer to the market’s demand while respecting the DNA of the Privilège brand. Under PPF ownership, Privilege Marine will be strengthened into even more of a premium brand, both maintaining and increasing its market position. The emphasis will be on innovation with a primary focus on the search for alternative fuels.
“I am delighted to be part of the endeavour to contribute to the relaunch of this magnificent and historic builder of premium catamarans.” Le Masson said.
The four-model Privilege Marine range includes the 15.2m (51ft) Privilege 510, the 19.1m (58ft) Privilege 580, the 21.3m (65ft) Privilege 650 and the 22m (75ft) Privilege 750. In terms of product development the 510 is set for a revamp as a starter. These models are designed by Darnet Design and Marc Lombard.
The International Yachting Media had the pleasure to sea trial a Privilege 6 in the past, it was a 130 miles long sea trial, here is the LINK
Speaking at a press conference at IMS 2024, Didier Stoessel, PPF’s chief investment officer. Made clear the plan to make Privilege Marine into a premium brand. He said: “We are setting up service centers around the world for Privilege owners and we have recently opened a facility in Greece. This is a shipyard which will also be able to handle repairs and refits.”
Over the past three years PPF has, according to Stoessel, invested “several hundred million euros” in building up its portfolio of marine assets. Apart from Privilege Marine they include the acquisition of a majority stake in Dream Yacht Charter; Navigare, Roberston & Caine in South Africa as well as seven marinas in Croatia and other facilities in the Caribbean. It also holds an 8% stake in MarineMax.
PPF was formed in 1991, and it now owns and manages more than €43bn of assets across 25 countries and employs over 60,000 people. Of the PFF assets, some 20% are linked to financial services, 11% media, 10% real estate and 40% a mix of others including marine.
Stoessel told the press conference that some 3,500 people are working in the PPF-owned marine assets and with its eye of future opportunistic purchases this is likely to increase. Building up the marine presence has taken just three years. He suggested that the PPF marine assets were “a third of the size of Beneteau and double the size of Fontaine Pajot or Catana.”
