Marquis Yachts partners with Chinese company
HOPKINS, Minn. – Marquis Yachts reported today that it has formed an exclusive partnership with one of China’s largest state-owned companies, Poly Technologies Inc., for the sales and distribution rights for Marquis Yachts throughout China. The new joint venture will be called the Poly Marquis Yacht Co. Ltd. (Poly Marquis Company).
Irwin L. Jacobs, chairman of Marquis’ parent company J&D Acquisitions, called the day of the partnership one of the most important and exciting he’s experienced in 35 years in the recreational boating industry.
“Our new partnership with Poly is clearly the most significant business event throughout our yachting company’s history,” he said in a statement. “It is anticipated that over the next few years, China’s recreational yachting and boating market is emerging to become one of the largest recreational yachting markets in the world, and with our new Poly Marquis JV partnership, we’re very confident that the Poly Marquis Company will become one of China’s largest and most important sellers of Marquis Yachts in the world.”
Over the next 30 to 45 days, Jacobs said the Poly Marquis Company is opening a fully staffed distribution sales and service center at the new Serenity Marina and Yacht Club in Sanya, China. The Poly Marquis Yachting Center will maintain a completely stocked inventory of all new Marquis Yachts ranging in size from 42 feet to 72 feet.
“The new Sanya Marquis Yacht Center will have China’s most completely staffed service department with qualified in-house technicians to professionally service, manage and maintain Marquis customers’ needs throughout all of China,” Jacobs said.
“We believe that the recreational boating and yachting industry market in China will become one of the world’s largest and most important retail markets in a relatively short period of time,” Poly Chairman Jiang Lianxiang said in a statement. “Poly has spent a great deal of time and effort in researching the world for a potential yacht manufacturing company to partner with Poly who we believe builds the highest quality yachts along with the most modern styling and forward-looking designs to meet the tastes and needs of the discerning Chinese consumers of today and in the future. After studying the yachting industry for over one year, Poly concluded that Marquis Yachts clearly excelled beyond all other yacht manufacturers on which we have done research in building the finest and most beautiful yachts in world.”
Poly is one of China’s largest state-owned companies and is mainly engaged in defense-related equipment, R&D and trade, real estate development, culture and arts business, as well mineral resources investment and development. It is the exclusive distributor and retailer throughout China for Ferrari, Maserati and Mercedes Benz automobiles as well as many other products.
“Poly Company has a very large, loyal and unique customer base that numbers in the tens of thousands of individuals who have purchased many of our high-end automobiles, jewelry, real-estate, and auction items that Poly sells and distributes throughout China, many of whom we believe will become customers of Marquis Yachts,” Jiang stated. “Poly is committed to doing everything possible in supporting our newly formed JV partnership with Marquis into becoming China’s largest and most successful yachting company.”
Our view from the helm: If there's one market you don't want to screw over it would be the Chinese and Poly Technologies Inc. is a state run company. Tread carefully Big Ir!