Tanguy Tertrais: M-Line expands Prestige options

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Tanguy Tertrais, Asia-Pacific Sales Director, Prestige

Having recently visited Hong Kong, Singapore, China and Japan, what have you learnt since taking on the role of Prestige Sales Director for Asia-Pacific last September?

I’ve noticed each market is quite specific. I went to this year’s Japan International Boat Show in Yokohama and found that the way owners use their boats there is completely different from how boats are used in Hong Kong, mainland China or Singapore.

The Japanese clients, for example, don’t use their boats as much as they’re used in Hong Kong. It’s more of a social status in Japan, whereas in Hong Kong, it’s really something you use for the weekend or for day trips. It’s interesting to see these differences, whereas in Europe, it’s a different usage of the boat. These cultural differences are new to me, so it’s very interesting.

Tertrais in Japan with Prestige Brand Director Erwin Bamps and Yamaha Marine

However, the demands from our customers are similar. Most are looking for quality time on the water with their family and friends, and for more volume and space rather than speed. If we asked people a decade ago what they wanted, they would have said ‘a fast boat to go from A to B and back’.

Which are Prestige’s biggest markets in Asia?

Hong Kong is number one. Japan is picking up the pace and other markets are growing. We’ve talked a lot about Thailand, where a lot of Russian clients have come back and Chinese are visiting again. There is money all around the region such as in Indonesia and Malaysia, while the Philippines is a big market, especially for the new M-Line of multihull motor yachts.

But Hong Kong is our main market today and the F-Line of flybridges is the best seller, especially the 520. That’s our best-selling model worldwide and that’s also reflected in Asia. We see a demand for the X-Line as well. It has only been introduced in Asia quite recently, but the X-Line is becoming a trend as we’ve seen in the European market.

Tertrais at the China International Boat Show in Shanghai

Meanwhile, there’s growing interest in the M-Line worldwide and there have already been 30-plus retail orders for the M48, which is a good start for a yacht launched at the Cannes Yachting Festival last September. And with the announcement of the M8, everyone is getting excited about these models and it’s a trend we’re going to see across Asia, such as in Hong Kong, Philippines, Japan and so on.

Asia Yachting represents Prestige in Hong Kong, Thailand and the Philippines, so what have you learnt from their team about these markets?

Most of the owners in these markets have crew, so it’s a different way of using the boat. In terms of layout options, the designs of the boats differ when someone uses the boat with a full crew. A Seakeeper stabiliser and air-conditioning are common options, so these are also things to consider when creating models to cover these markets.

Prestige 690 Swarovski Edition

Perceived quality is very important in Asia, which is why we partnered with Swarovski on the Prestige 690. The Prestige 690 Swarovski Edition is already on its way to Asia.

How closely are you cooperating with Asia Yachting?

Working closely with our dealers in all their markets is key to making sure our brand is well represented. I was talking about the Philippines with the M-Line. That’s a key market for us so we’re working closely with Asia Yachting to understand how we can build our presence there with the M-Line. Thailand is also picking up.

Asia Yachting is an expert on the yachting industry in Hong Kong and Southeast Asia, so we want to build that partnership to have a presence for Prestige in those key markets. Event wise, they are a true partner and regularly host Prestige events. In November, we host the Prestige Exclusive Days at our shipyard in France and we’ll do it in Beaulieu-sur-Mer in August with some sea trials, so we want to increase those events.

Tertrais and Bamps with Asia Yachting at the Prestige Exclusive Day in Hong Kong

Asia Yachting has hosted the first official Prestige Exclusive Days outside of France, so the idea is to spread these throughout the world in the US, for example, but also hopefully one day in the Philippines, Singapore, Thailand and so on. They’re a true partner to help us grow our visibility and our branding across the region.

What has been the reaction to the X-Line in Asia, where the region’s first X70 arrived in Hong Kong in late 2021?

There has been an excellent response and I believe it will be even better for the X60, with the first model in Asia potentially arriving in Hong Kong late summer. We had an X70 handover in December and we had 15-20 people on the boat having a good time, and that’s how owners here like to use their boats, so the X-Line is right on point.

Prestige X60

You don’t see the volumes on the X-Line models on other brands. That’s what yacht owners in Asia are looking for because when they go boating, they don’t go by themselves. They’re going with the full family, with some friends or even some business partners, and they’re looking for those volumes.

What about the M-Line, the brand’s entry into the multihull market?

The M-Line is a step further. The boats have been designed from scratch as powercats, to offer unprecedented space and experiences for guests and the owner, including what we call an owner’s suite, because that’s really what it is.

Today, many of our competitors in the multihull motor yacht market are coming from sailing catamarans. We don’t have the same constraints, so we manage to offer unrivalled spaces for a new way of experiencing the sea. The design of our M8, for instance, is based on a perfect technical platform to meet four pillars: comfort, conscious luxury, environmental awareness and natural stability.

Prestige M48

I think the M48 is going to be well received in Asia and when we talk to Asia Yachting, it’s clear that’s what their customers are asking for: huge volumes and comfort on board. And that’s the feedback we got from all over the world but especially Asia.

Do you think Prestige surprised its competitors by moving into multihulls?

I think it was a surprise for them. I think we may have surprised them with our timing and if you look at Boot Dusseldorf this year, Prestige was the only exhibitor in Hall 6 (for luxury yachts) with a powercat.

However, I think if we meet in two years or three years, other brands could have power cats. We created a boat that interests a lot of owners of monohulls, multihulls and sailing boats, as well as first-time boat owners.

Prestige M48

It feels like there’s a trend and a lot of companies are talking about it, but for now, we’re going to distribute the boat everywhere. The first one in Asia will be in Hong Kong by the end of this year or early 2024, there will be one at the Japan International Boat Show in Yokohama in March 2024, one in Australia for the Sanctuary Cove International Boat Show in May 2024 and so on.

As a brand, we’ve ensured that the first 15 units are dedicated to visibility around the world, to cover the main markets and main boat shows.

What about the M8 model in build at Groupe Beneteau Italia in Monfalcone and the most expensive Prestige model to date?

The M8 is coming with a new dimension of comfort. It’s a high-end catamaran representing a new generation, linking comfort and luxury with luminous spaces. It’s going to put Prestige and the M-Line on another level. We’re not talking to the same customers; instead, we’re talking to superyacht owners that want more stability and efficiency.

Prestige M8

On the finishing, the materials, the layout, the furniture, we’re putting the M8 on the level we want to put the brand to be able to talk to those customers, who are owners of 80-90ft superyachts that want to feel the same volume, but in a more compact platform. That’s what the M8 is about.

The debut of the M8 will be at the Cannes Yachting Festival in September 2023. It will be hull two and will feature a ‘silent mode’ due to the use of solar panels, so you don’t have to use the generator. Hull one is for the US.

So, Prestige believes multihull motor yachts are here to stay?

When you look at the advantages multihulls bring – efficiency, comfort and stability, and space – that’s everything our yachting customers are looking for today. They’re looking for those key points when they’re purchasing a boat and the M-Line power catamarans are ticking all the boxes. It’s a trend we’ve seen for the past few years, it’s going to grow and it’s going to stay.

Asia Yachting Open Day

Hong Kong and some Southeast Asia markets have a bias towards Italian and British motor yacht builders, especially in the 50-100ft motor yacht market. Although Prestige has done very well in the 40-70ft segment, does the brand have to upgrade its image to remain a leader in this sector?

Today, Prestige is the leading brand for 40-60ft flybridge motor yachts, but we have a demand for a higher level of finish and bigger sizes and volumes. The X-Line answers this demand in the 60-70ft segment, but as we look to keep leading the 40-60ft flybridge market, we’re developing the F-Line to ensure we continue to answer all the needs of our clients and future owners within the 40-80ft range.

www.prestige-yachts.com

www.asiayachting.net