New models, facility investment and dealer network growth all in progress
An active new model launch programme, major facility investment, and increasing the global reach of its international dealer network are all facets of the ambitious expansion strategy for Maritimo, the Australian luxury yacht builder.
At the recent 2019 Sydney international Boat Show (SIBS), Garth Corbitt, CEO, gave an update on the company’s advances. In respect of the dealer network, Maritimo is pushing strongly into the US, Europe and the Middle East. Corbitt pointed to the company being on target to increase its global sales into these markets predicting that more than 50% of its overall production this financial year will be exported.
He explained that the Queensland-based manufacturer had just completed a A$13m expansion of its production facility at the Coomera Marine Precinct and now had set in place a global network of representatives to drive its international expansion strategy.
“Never before,” he said, “have we been so well-established to take the brand forward and increase our awareness levels and ultimately sales in the most significant markets internationally. This global expansion strategy has been formulated by the senior management team over a period of years and it has been necessary to get the foundations set correctly before embarking on that journey.”
He added: “Naturally you have to have the product and the capacity at the back end to achieve that and we are confident we have. Our product line is as diverse as it has ever been, our investment into R&D is paying off handsomely and our physical production footprint has almost been doubled in the past 18 months providing the capacity for future expansion.”
As to sales and the dealer network, Corbitt said: “Maritimo in the Americas was already producing significant results with the team led by Maritimo Americas’ president, Dave Northrop, recording total sales in the past year in excess of US$20m. Maritimo is in the final stages of negotiating the appointment of a Barcelona-based representative to head up its European operations. We have had lengthy discussions with them and I am confident an arrangement will be finalised shortly.”
As to the Middle East Corbitt commented that: “Maritimo was also in discussions with a major company in the Middle East and was seeking to open up that market place. The company we are speaking with is the leading importer and distributor of luxury automobile and marine products in Saudi Arabia. It has more than 800 employees.”
Speaking about its home market and New Zealand, Corbitt pointed to the company “achieving strong sales in New Zealand and a significant number of its Gold Coast-manufactured vessels were making their way across the Tasman to New Zealand home ports. Our international strategic roll-out has been several years in the planning and now all the pieces are finally being put in place for its expansion.”
Corbitt forecast that “the Maritimo brand is set to get much bigger on the world stage in coming years.”
In regard to model development and SIBS, Maritimo announced the company’s latest design and manufacturing strategy along with three new M-Series Flybridge motoryachts being created within the company’s newest division, Maritimo One. The three models were the Maritmo M51 Flybridge Regency Suite craft; the M72 Sport Flybridge motoryacht and the M78 Flybridge motoryacht and these mark the start of the new custom division which has the capacity to develop projects up to 30m (100ft).