Turquoise announces new strategy

Following the acquisition of the majority stake in Turkish shipyard Proteksan Turquoise by Mohammed Al Barwani in December 2014, Turquoise Yachts has now announced its new strategy.

In a statement Mohammed Al Barwani said, “We face the future with confidence with a bold new strategy designed to capture new growth in the superyacht industry.”

The company has built on the shipyard’s technical expertise and its strong reputation to ensure the key message behind its new strategy is to make the world of superyachts more accessible.

Peter Economides, brand strategist commented, “Economic growth in emerging markets is creating new wealth. 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, 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.”

However, Turquoise Yachts wanted to also focus on a strong lifestyle proposition, as Mehmet Karabeyoglu, CEO of Turquoise explained, “There’s an overriding technical element in our business. 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.

 “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. There are plans to extend this strategy but right now it’s too early to elaborate.”

Mohammed Al Barwani also pointed out that the yard will focus on yachts up to 80 metres in length. He commented, “There is definitely an opportunity for a high quality, high value builder with an established track record. We’ll enhance Turquoise’s ability further with leading edge design and innovative engineering plus enhanced quality control and management systems.”

Established in 2001, the Turquoise yard in Pendik, outside Istanbul, has built twenty superyachts including, M/Y Turquoise, M/Y Talisman, M/Y Vicky and M/Y Ileria.

For more information, visit Turquoise Yachts

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