Sunseeker - Daily Telegraph

MapisM said:
LOL, doesn't that remind you of the LYC rise and fall, W...? :rolleyes:
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It was also Sunseeker's rise and fall with the 200 million debt coming for the most part from the dealership it owned Ss London or Brokerage can't remember which.

One of Sunseeker new strategy widely publicized in Italy during the Cannes 2017 boat show (when they took over the Italian dealership) is that they set you a target and if you do not sell or exceed it you lose the dealership. Hence they are taking over all dealerships since apparently the target is rather high for a market which yes is in its upswing but as yet to 2005-9 levels for new boats in South Europe.
Personally I am not a fan for this mass production model but to each his own I guess. I also add that I think it does not work well in boat building operations.
 
PowerYachtBlog said:
It was also Sunseeker's rise and fall with the 200 million debt coming for the most part from the dealership it owned Ss London or Brokerage can't remember which.

One of Sunseeker new strategy widely publicized in Italy during the Cannes 2017 boat show (when they took over the Italian dealership) is that they set you a target and if you do not sell or exceed it you lose the dealership. Hence they are taking over all dealerships since apparently the target is rather high for a market which yes is in its upswing but as yet to 2005-9 levels for new boats in South Europe.
Personally I am not a fan for this mass production model but to each his own I guess. I also add that I think it does not work well in boat building operations.
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I think you are totally wrong there as information points to a large number of individual dealerships being taken over by sunseeker London dealership MD (D Lewis) - I think!
 
stelican said:
I think you are totally wrong there as information points to a large number of individual dealerships being taken over by sunseeker London dealership MD (D Lewis) - I think!
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Ermm... That's what also PYB said, as I understood it.
Which is what reminded me of LYC, to start with.
If there's a difference between your and PYB points, I for one don't see it... :confused:
 
And the difference between SS and SS London is? I mean, REAL difference?
You must have missed the LYC story, I reckon.... :)
 
sorabain said:
Yes, it is. Survivorship bias. For everyone here there'll be multiple others equally talented, equally hard working, equally deserving, but who missed out through "bad luck".
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That would be my own observation which also links into the excessive executive pay debate.
 
stelican said:
Different companies different owners Simple!
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Yeah, right. Exactly the same as LYC and Ferretti - formally.

@PYB: yes of course, but calling them the sales dept. of Ferretti Group would have been much more appropriate than just "dealer" - again, in real world, as opposed to formal appearance...
 
Yes correct. Although to be fair they where a much smaller operation then Sunseeker Brokerage and Sunseeker London where, as the hold of LYC was mostly around Italy East (and Liguria).

It also only involved Ferretti (Fer Custom Line) and Mochi boats. It was also as far as I know separate from FG but had the main shareholders in FG with with big interests in it.
 
I can't tell how smaller (or not) they were vs. Sskr operation, but it surely would be a joke to call LYC just a Ferretti dealer - pretty much as it would be for Sskr London.
Just have a look at what they said in this webpage, resurrected from their 2010 website - while the business was already going downhill like a lead baloon.... :ambivalence:
 
January 4th 2018, Reuters are reporting that the Dalian Wanda Group is looking to sell Sunseeker. Sorry I don't know how to post a link however it is searchable on the Reuters search area.
 
Hmm , I’ve kept my powder dry following this thread ,taking what’s been said already .

It’s taken a longer time than I expected ( since the 08/09 crash ) for a smaller profit during a resurgence of leisure boatbuilders recently .Theres a headwind somewhere !

£/€ FX and £/$ has helped sell UK boats too .

Modal range imho has kinda stalled - needs a bit of fresh air injecting in - I don,t like the direction of the shark gill window glazing along the hull sides look or in the battle of interior volume the top heavy ness .

I can,t see them braking into proper super Yacht 180 ft + with plastic only .
Where the money or the risk gonna come from to experiment with AL or Steel ?

In the 80-155 ft mkt there are not many actual owners / occupiers or should I say a shrinking pool .
What I mean is people who can afford boats this size ( easily btw ) - want a more fulfilling type of holiday/ adventure/ experience - not necessarily more of the same if a family member ( usually dad ) bought a boat .
So they are increasingly chartering - seeking a v high end experience , not buying in .

So while go larger has worked over the 80,s 90. ,s noughties etc - hooking owners at the intro end and massaging deals every few years pushing them in to bigger boats , those folks are getting v few and far between these days .

Of course there’s decades of loyal customers to run out but that pool is shrinking as in this I pad ,modern convenience age ,they just want to turn up and go without the ownership ( depreciation/ crew / berth / flag etc ) hassle and have the means to do that - charter .

As a none owner charter customer - you are not really interested in the deep build quality, ie wether the bathroom is a drop in modular unit ,or the windlass and chain are 1/2 notch down quality wise - so Phil Popham can get away with bigging up the image / brand and loose the “ production efficiencies “ ** of mass production .

For a while at least .

The imagery will continue to attract less technical one off buyers who will after a few years get bored so never notice the decrease in build quality or never feed back .Even though that’s a dead end sale it’s a sale nevertheless.

So I think all in all sales volume will drop in the next decade as the demographics of the buyers alters .Thats the headwind they are flying into right now , with Wanda strapping his parachute on .

Ironically the more wealthy you become the less incentive to own one - if that makes sense cos you can afford to rent multiple times , if renting is seen as the ultimate way of disposal of your surplus £/€ .

From owner / occupiers/ enthusiasts - to charter ( floating apartment s ) and one off one hit wonders who will blow a few £ M - once - then get bored and sell up and charter a bigger one in a better location .

** AKA cost cutting - that’s the turn around really to profit .
 
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MapisM said:
I can't tell how smaller (or not) they were vs. Sskr operation, but it surely would be a joke to call LYC just a Ferretti dealer - pretty much as it would be for Sskr London.
Just have a look at what they said in this webpage, resurrected from their 2010 website - while the business was already going downhill like a lead baloon.... :ambivalence:
Click to expand...

Yes and no. The Rome (Lazio dealer was the guy who owns the Marina at the entrance of Fiumicino by the Side of Ostia and long time Ferretti dealer, Naples dealer was and still is Mele Yacht, the Viareggio Tuscany dealer was Capitan Brokers so these where integrated in the period around 2004 (more or less into LYC).
Obviously the balloon exploded into LYC face cause they where taking the bulk of the trade deals in order to keep it flying in the air. ;)
 
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