Monaco Yacht Show opened on Wednesday, September 22, with many very familiar names exhibiting as they do every year.
However, there are also many new names at the top of yachting, an industry that is constantly evolving and over the past few years has gone through seismic changes.
A company that epitomises how the super yacht world is transforming itself is the US-based Denison Yachting. NEWS.MC caught up with the company president, Bob Denison, who told us of the company’s plans for European expansion.
“We are very US-focussed, my grandparents started building yachts in Florida in 1948. Now we have 22 offices up the east and west coasts of the US, in Florida, California, and Washington. Most of our business is yacht brokerage and yacht charter.”
Monaco is the place to be
“We are now opening an office here in Monaco. The super yacht side of our business is growing exponentially, we’re seeing a lot of growth in yacht sales but also in yacht charter, yacht management, crew placement.
“You can not be a relevant super yacht company anywhere on the globe without having a presence in Monaco. So as much as I’d like to think the US is the centre of everything, in the yachting world certainly Monaco is the place to be.
“It was very critical to our continued growth. We also have a lot of existing clients who charter here, that buy and sell yachts here, and for years we would do our best to handle that business from afar, but as you know taking care of clients from afar is never a great idea. It’s really good to be on the ground, and there is no better place in Europe to be for what we do than right here in Monaco.”
Denison’s plans are well-advanced, with a lease on an office in the Principality due to be signed within weeks.
“We’ve already hired two people, and we are looking to build a team up from there once the office is actually opened.
“We want to support our US success and our team of brokers and long-term we want to establish ourselves as a leading company in Europe in the super yacht industry. It’s not going to be easy, and it’s not going to be fast. There’s incredible competitors here in Monaco. The biggest and best names in yachting are here,” he said.
However, the existing competition is not detering Bob Denison as his very successful US company develops its growing business and seeks new markets.
PHOTO: Bob Denison at MYS