Turquoise Yachts’ new strategy
In December 2014 Mohammed Al Barwani acquired the majority stake in Turkish shipyard, Proteksan Turquoise. Today, with three new builds already underway, the yard, renamed Turquoise, announces a bold new strategy.
“We face the future with confidence,” says Al Barwani, “with a bold new strategy designed to capture new growth in the super yacht industry.”
“Economic growth in emerging markets is creating new wealth”
“Economic growth in emerging markets is creating new wealth,” says Peter Economides, noted brand strategist. “This has created a surge of interest in luxury goods – fashion, accessories, jewellery and timepieces, travel and recreation, art, automobiles, private jets …. and superyachts.”
A superyacht, he says, is the ultimate luxury purchase – exclusive, extremely individualised and offering entry to a highly aspirational owners’ club. “I am sure that many are attracted to the world of superyachts. But I am also sure that many are turned off when they are exposed to the commitment, complexity, challenges and risks involved in this decision.”
Making the world of superyachts more accessible is the key behind the new Turquoise strategy.
“There’s an overriding technical element in our business,” says Mehmet Karabeyoglu, CEO of Turquoise. “Turkey has a long tradition in shipbuilding with a highly skilled workforce. We are extremely confident of our technical and engineering skills. What truly sets us apart is our widely recognised high quality which we get at a relatively low cost. This is what gives us a highly attractive value proposition.”
“I am sure that many are attracted to the world of superyachts. But I am also sure that many are turned off when they are exposed to the commitment, complexity, challenges and risks involved in this decision.”
But it goes beyond that. Karabeyoglu explains that Turquoise is focused on a strong lifestyle proposition. This, he says, is part of the true attraction of yachting – luxury, exclusivity and a highly individualistic lifestyle choice.
“Even though there’s a large technical component, we’re focused on the lifestyle aspects. This is where the magic is. It’s why the world of yachting is so attractive.” The Turquoise lifestyle proposition rests on a range of designs – from traditional to cutting edge avant-garde – featuring the world’s top designers with layouts, amenities and interior designs, to suit highly personal owner lifestyle choices. “There are plans to extend this strategy,” Karabeyoglu says, “but right now it’s too early to elaborate.”
Mohammed Al Barwani points out that the yard will focus on yachts up to 80 metres in length. “There is definitely an opportunity for a high quality, high value builder with an established track record,” he says. “We’ll enhance Turquoise’s ability further with leading edge design and innovative engineering plus enhanced quality control and management systems.”
Turquoise was established in 2001. The yard at Pendik, outside Istanbul, has built twenty superyachts including M/Y Turquoise (pictured above), M/Y Talisman, M/Y Vicky and M/Y Ileria, launched in 2011, 2012 and 2013 respectively.