CAMPER & NICHOLSONS INTERNATIONAL announced on Oct 3 its new shareholder Lai Sun Development Company Limited, which has significant experience in the luxury sector throughout the Asia- Pacific region.
Part of Lai Sun Group, Lai Sun Development Company Limited is a major player in luxury services across Asia, with assets including a portfolio that includes several Michelin-star restaurants, luxury residential and commercial developments in Hong Kong and China, as well as luxury hotel developments in China, Vietnam and Hong Kong. It is regarded as the most diversified leading Chinese-language entertainment provider in Asia.
Stemming from its luxury background, the Lai Sun Development Company recognised the significant growth potential of the Camper & Nicholsons brand as the most prestigious name in yachting. The company brings stable, long-term investment to Camper & Nicholsons, including expansion throughout Asia.
As reported in the recent Wealth-X Billionaire Census 2015/2016, Asia now leads all regions in growth of both billionaire population and wealth at 15.2% and 19.6% respectively. Asia was also responsible for 57% of all net billionaire additions and 70% of all new billionaire wealth in 2015. China and Asian countries led the increase. Despite 26.1% of the world’s billionaires coming from Asia (645 billionaires), they do not fall in the top five countries for UHNW superyacht Owners, demonstrating the untapped growth potential in this area.
According to The State of Wealth, Luxury and Yachting 2016, published by Wealth-X and Camper & Nicholsons, the top countries for UHNW superyacht Owners are Australia, the United States, the United Kingdom, Italy and Russia. However, the report stated that considering UHNW individuals without yachts, Japan and China would both move into the top five.
While the trend for yacht ownership in Asia is still in its infancy, Asia has the fastest-growing population and fastest increase in wealth worldwide, and the trend for yachting and other luxury pastimes is inevitable. The potential of the Asian market is therefore PHOTOS: C&N of paramount importance to the future of the yachting sector and Camper & Nicholsons looks to significantly strengthen its brand in cooperation with Lai Sun – reinforcing its standing as the world’s leading yachting company.