A joint venture between Camper & Nicholsons International and its shareholder, Lai Sun Development Company Ltd., has resulted in the strategic launch of Camper & Nicholsons Asia Holdings based in Hong Kong.
Part of the Lai Sun Group, Lai Sun Development Company became a 50 percent shareholder in CNI in 2016. Lai Sun is a major player in luxury services throughout Asia, with a portfolio that includes several Michelin-star restaurants; luxury residential and commercial developments in Hong Kong and China; luxury hotel developments in China, Vietnam and Hong Kong; and is regarded as the most diversified leading Chinese-language entertainment provider in Asia.
“Lai Sun’s partnership in our expansion into Asia provides a major strategic advantage to our business,” said Paolo Casani, CEO of Camper & Nicholsons International. “It is of paramount importance to work with prominent local partners to achieve success in Asia. Lai Sun brings a tremendous network of UHNW Asian clientele, extensive existing operations throughout the region, and stabilizing long-term investment.”
The Camper & Nicholsons Asia legal entity will operate under the established Camper & Nicholsons International brand, with exclusive right to open offices in the Asia territory and offer yacht brokerage, charter and management services. The new venture will be lead by Carmen Lau as managing director. A native Chinese educated in Toronto, Lau brings experience in the superyacht industry, including roles with Benetti and work with numerous shipyards throughout Europe and Asia as owner’s representative overseeing new build projects.
As reported by Camper & Nicholsons strategic partner Wealth-X in its Billionaire Census 2017, one-third of the top 30 billionaire cities are in Asia-Pacific. There are more billionaires and collective billionaire wealth in Asia-Pacific (632 billionaires and $1.6 trn) than the Middle East, Latin America and Africa combined. As Chinese billionaires are generally younger than the global mean, with one-third aged under 50 and are predominantly self-made, the view is that these individuals are well placed to help accelerate an active interest in yachting in the region.
The potential of the Asian market is therefore significant to the future of the yachting sector, CNI said in a news release.