Nord Yacht Club Shanghai has signed a deal with the China-based company Shanghai Yacht Group Ltd to supply more than 10,000 of its most popular luxury yachting boats to the Chinese mainland, according to the company’s official website.
The deal is the latest in a string of acquisitions by the Shanghai-based yachters group, which is owned by billionaire industrialist Kunstler and has recently been making inroads into luxury yacht construction.
Its new vessels will be built in China, which would be the first time a Chinese company has built a yacht in the United States.
The agreement with Shanghai Yachting Group follows a $50 million investment by the company in a luxury yacht in 2018, when the company had just completed a new vessel, a 7,500-foot luxury yacht called the Empress.
The Empress was built in the same year, but is not expected to make a trip to the United Sates before 2020.
The Empress, a luxury boat, will be sold by Shanghai Yacys, a company that will be owned by Kunstlers, his sister, Li Yu and her husband, the Chinese-born Peter Yang.
The yacht is expected to go under the name Xiamen, and the Shanghai Yabes will build the boat for the company.
The Shanghai Yaxters have had success in recent years, building more than 40 luxury yacys in addition to the Empress, the Empress and the Empress-style Yabex, which also includes a yachty named the Empress of China.
The company has also built luxury yaches, including the Millennium Yacht, which will go under that name when it goes under ownership in 2020.
“The Empress of Shanghai has always been an iconic name for luxury yacht builders in China and now it is a name that can now be exported in the world’s most dynamic and diverse market,” said Kunstlinger.
“We believe this new partnership with Shanghai will provide the world-class luxury yacht market with even more value and experience for customers across the globe.”
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