Maritimo signs distribution deal with The Yacht Sales Co for Asian exposure

A Gold Coast luxury yacht builder expects a multimillion-dollar payday after signing off on a distribution deal that will give it exposure to the lucrative South East Asia market.

Luxury Gold Coast motor yacht manufacturer Maritimo has secured an exclusive dealer who will spearhead its multimillion dollar expansion into Asia

The boat builder has appointed The Yacht Sales Co as its exclusive dealer for Singapore, Malaysia, Philippines, Indonesia, Thailand and Hong Kong.

Maritimo’s business development manager – Global, Derrick Nowak, said the dealer was well established in the key boating centres throughout South East Asia.

“They have developed a wide-reaching sales and service network,” he said.

“With multiple locations across South East Asia, and specifically in the boating hubs of Sentosa, Singapore and the island of Phuket in Thailand, they are best positioned to support clients anywhere in the region to the degree they expect and deserve, and to the level that is Maritimo.”

Gold Coast-based luxury motor yacht manufacturer Maritimo has unveiled the largest motor yacht in its history with the M75 Flybridge Motor Yacht.

The appointment of The Yacht Sales Co is Maritomo’s second for the expansive Asian market, after the well-known marine organisation, Eins A Resort, was appointed in 2022 as its representative for Japan. Maritimo has sold four yachts into Asia since launching its growth plans for the region.

The strategic expansion into Asia comes off the success Maritimo has had in the US and New Zealand markets. In the past six months Maritimo delivered 11 of its handcrafted motor yachts alone to the US worth $US39m (A$58m).

The company is forecasting a $100m turnover in 2022-23, up 25 per cent on the previous 12 months and they expect another 25 per cent jump in revenue in 2023-24.

The Yacht Sales Co is based on the Sunshine Coast and founder and chief executive.

Mark Elkington said his group has been working in South East Asia for over 10 years, initially with a focus on the multihull market.

“Over recent years, we expanded our activities to become a broader all-inclusive, high-end sales and service operation.” he said.

“It was a timely coincidence that Maritimo was also undertaking a review in the South East Asia region, which has led to this new partnership announcement.

“Our team is thrilled to have been selected to assist Maritimo with its development and future growth in South East Asia, and we are proud to be able to represent this Australian brand that was founded by industry legend, Bill Barry-Cotter."

Mr Barry-Cotter’s son Tom, who is Maritimo’s managing director, said The Yacht Sales Co is the right choice.

“They have a huge database of clientele to show our unique, handcrafted, long-range motor yachts to. This is a wonderful way to kick off our 20th Anniversary celebrations,” he said..