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| Sunseeker, the UK yachtmaker catering to a new wave of multimillionaires | Sunseeker, the UK yachtmaker catering to a new wave of multimillionaires |
| (about 2 hours later) | |
| All of Stewart McIntyre's customers are multimillionaires, a lot are billionaires and most are famous. With Michael Douglas, Eddie Jordan, Simon Cowell, John Travolta, Jenson Button and John Terry on speed dial, he has the kind of contacts that would impress gossip blogger Perez Hilton. But this 57-year-old Scot's celebrity network is one of the more unlikely engines of Britain's industrial recovery. | All of Stewart McIntyre's customers are multimillionaires, a lot are billionaires and most are famous. With Michael Douglas, Eddie Jordan, Simon Cowell, John Travolta, Jenson Button and John Terry on speed dial, he has the kind of contacts that would impress gossip blogger Perez Hilton. But this 57-year-old Scot's celebrity network is one of the more unlikely engines of Britain's industrial recovery. |
| McIntyre is the boss of luxury yachtmaker Sunseeker, which following the closure of BAE's Portsmouth shipyard is one of the last flagbearers of Britain's once dominant maritime industry – a sector enjoying a showcase moment at the London Boat Show this week | McIntyre is the boss of luxury yachtmaker Sunseeker, which following the closure of BAE's Portsmouth shipyard is one of the last flagbearers of Britain's once dominant maritime industry – a sector enjoying a showcase moment at the London Boat Show this week |
| Jordan has been on the phone to McIntyre a lot recently. The former Formula One boss is taking delivery of his latest Sunseeker– his eighth or ninth, McIntyre isn't quite sure – at the end of the month. The 155ft yacht is the biggest the Poole-based shipyard has ever built, and will set Jordan back a rumoured £25m. Discretion being everything in the luxury goods industry, McIntyre refuses to speculate on the price. | Jordan has been on the phone to McIntyre a lot recently. The former Formula One boss is taking delivery of his latest Sunseeker– his eighth or ninth, McIntyre isn't quite sure – at the end of the month. The 155ft yacht is the biggest the Poole-based shipyard has ever built, and will set Jordan back a rumoured £25m. Discretion being everything in the luxury goods industry, McIntyre refuses to speculate on the price. |
| "Wealthy people want only the new things and the latest things. In 2013 we had the largest number of new models and refreshed models we've ever done," he said. "Everything is now more carbon fibre, more steel, more light." | "Wealthy people want only the new things and the latest things. In 2013 we had the largest number of new models and refreshed models we've ever done," he said. "Everything is now more carbon fibre, more steel, more light." |
| The company's second-biggest boat – a 130ft craft with cabins for 12 guests, compartments for seven crew, 12 bathrooms, six industrial fridge-freezers and a walk-in wardrobe – cost £16.5m and has been sold to "someone on the south of France". It's so big it can't fit inside London's Excel centre, which is hosting the industry's most important trade fair. On the show's first day McIntyre sold a £3m yacht straight off the company's stand. | |
| McIntyre, who lives in Edinburgh and has a flat in a marina in Poole, has collected more than 1m air miles criss-crossing the globe to meet clients. Last year he notched up more than 150 return flights. | McIntyre, who lives in Edinburgh and has a flat in a marina in Poole, has collected more than 1m air miles criss-crossing the globe to meet clients. Last year he notched up more than 150 return flights. |
| He admits to the thrill of meeting famous customers and says "most of them are really nice". His network has also enabled him to introduce his 29-year-old son, a golf pro in Portugal, to some of the sport's biggest stars, including Lee Westwood, Darren Clarke and Rory McIlroy. | He admits to the thrill of meeting famous customers and says "most of them are really nice". His network has also enabled him to introduce his 29-year-old son, a golf pro in Portugal, to some of the sport's biggest stars, including Lee Westwood, Darren Clarke and Rory McIlroy. |
| But Sunseeker's real boom is from newly-minted millionaires and billionaires emerging from China, Russia, Brazil and Mexico. More than half of the 35-year-old British company's customers now come from outside Europe, a "huge increase on a few years ago". | But Sunseeker's real boom is from newly-minted millionaires and billionaires emerging from China, Russia, Brazil and Mexico. More than half of the 35-year-old British company's customers now come from outside Europe, a "huge increase on a few years ago". |
| The fastest growing market is Mexico, and the company will open new sales offices this summer in Colombia, Panama and Venezuela, which he said "would never have happened five years ago". Demand is also booming in the Seychelles, a 115-island archipelago in Indian Ocean, which is "the latest playground for Middle Eastern investors". | The fastest growing market is Mexico, and the company will open new sales offices this summer in Colombia, Panama and Venezuela, which he said "would never have happened five years ago". Demand is also booming in the Seychelles, a 115-island archipelago in Indian Ocean, which is "the latest playground for Middle Eastern investors". |
| But it is China that has emerged as the key to Sunseeker's future, after the company was sold last year to China's richest man, Wang Jianlin, for £300m. McIntyre said the Chinese were beginning to find their sea legs. He said although it was not a maritime country some wealthy Chinese were very keen to buy a boat in order to own a complete sweep of luxury assets. | But it is China that has emerged as the key to Sunseeker's future, after the company was sold last year to China's richest man, Wang Jianlin, for £300m. McIntyre said the Chinese were beginning to find their sea legs. He said although it was not a maritime country some wealthy Chinese were very keen to buy a boat in order to own a complete sweep of luxury assets. |
| Sunseeker has recently fitted out Chinese boats with mahjong tables and karaoke rooms. Wang, whose property firm Dalian Wanda Group is building Europe's tallest residential tower in the Nine Elms development around Battersea Power Station, owns a 108ft Sunseeker Predator. | Sunseeker has recently fitted out Chinese boats with mahjong tables and karaoke rooms. Wang, whose property firm Dalian Wanda Group is building Europe's tallest residential tower in the Nine Elms development around Battersea Power Station, owns a 108ft Sunseeker Predator. |
| McIntyre said his customers, whom he describes as "high net worth to ultra high net worth", have been far less affected by the global economic downturn than ordinary people but "it doesn't stop them being very demanding on pricing". He said demand for reductions was "as bad now as it has ever been. People like getting a good deal." | McIntyre said his customers, whom he describes as "high net worth to ultra high net worth", have been far less affected by the global economic downturn than ordinary people but "it doesn't stop them being very demanding on pricing". He said demand for reductions was "as bad now as it has ever been. People like getting a good deal." |
| It means the company's profits are "under pressure and will remain under pressure" despite sales holding steady at £270m-£310m a year for the past five years. Pre-tax profits were £20.7m in 2012, after the business reversed a loss of £4.6m the previous year. | It means the company's profits are "under pressure and will remain under pressure" despite sales holding steady at £270m-£310m a year for the past five years. Pre-tax profits were £20.7m in 2012, after the business reversed a loss of £4.6m the previous year. |
| The company's cheapest boat comes in at £400,000 including tax and delivery. "You have to have some serious wealth [to buy one]," he said. | The company's cheapest boat comes in at £400,000 including tax and delivery. "You have to have some serious wealth [to buy one]," he said. |
| McIntyre, a keen sailor, is "way away" from being able to buy one even with the company discount. He has had to settle for a £150,000 small cabin cruiser from a rival company. | McIntyre, a keen sailor, is "way away" from being able to buy one even with the company discount. He has had to settle for a £150,000 small cabin cruiser from a rival company. |
| He said he was "not bothered in the slightest" about the wealth of his customers, but admitted to being fascinated by the influx of super-rich from all corners of the world. | He said he was "not bothered in the slightest" about the wealth of his customers, but admitted to being fascinated by the influx of super-rich from all corners of the world. |
| "In every country, irrespective of its status, there are rich people," he said. "We still sell boats to Lebanese [people], Egyptians and in Angola. We are still selling boats to people of these nationalities. We've sold to Libya." | "In every country, irrespective of its status, there are rich people," he said. "We still sell boats to Lebanese [people], Egyptians and in Angola. We are still selling boats to people of these nationalities. We've sold to Libya." |
| McIntyre said he "tries not to think about where the money comes from", but ensures that the company does everything it can to check the legitimacy of customers' funds. | McIntyre said he "tries not to think about where the money comes from", but ensures that the company does everything it can to check the legitimacy of customers' funds. |
| "I'm a big believer in regulation," he said. "We've had circumstances where we've returned the deposit because we can't get comfortable [with the origin of the customer's money]." | "I'm a big believer in regulation," he said. "We've had circumstances where we've returned the deposit because we can't get comfortable [with the origin of the customer's money]." |
| Despite the pressure on costs, he said Sunseeker would not consider moving manufacturing away from the company's Dorset base where it employs 2,300 people. "Britain has an amazing pedigree in maritime history, be it submarines or warships, and it is up to us to uphold our maritime industry," he said. | Despite the pressure on costs, he said Sunseeker would not consider moving manufacturing away from the company's Dorset base where it employs 2,300 people. "Britain has an amazing pedigree in maritime history, be it submarines or warships, and it is up to us to uphold our maritime industry," he said. |
| "The Union Jack is a huge asset to the brand, and it is in the DNA of the company. Being 'made in Britain' is very important to us as it is to Rolls-Royce and Bentley. You wouldn't buy a Chinese Land Rover, you wouldn't buy an Indian Mercedes." | "The Union Jack is a huge asset to the brand, and it is in the DNA of the company. Being 'made in Britain' is very important to us as it is to Rolls-Royce and Bentley. You wouldn't buy a Chinese Land Rover, you wouldn't buy an Indian Mercedes." |
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