The Chief Commercial Officer at Princess Yachts analyses evolving buyer expectations, bespoke design, global industry challenges, and the strategic importance of Greece.
interview: Gerasimos Gerolimatos
In an exclusive interview with Skipper ONDECK, Annie Reed, Chief Commercial Officer at Princess Yachts, shares insights into the evolving landscape of luxury yachting. She discusses shifting buyer expectations, navigating supply chain challenges, and the brand’s proactive approach to bespoke customisation. Reed also highlights the growing importance of the Mediterranean market, especially Greece, and explains how Princess fosters a thriving, community-driven ecosystem for its owners worldwide.
You have spent more than two decades at Princess Yachts, evolving through several key commercial roles. How has the profile and expectations of the luxury yacht buyer changed during that period, and how has Princess adapted to meet those changing demands?
Two of the most notable shifts are how much closer buyers want to be to the shipyard and, because of their trust in us, a growing demand to provide a suite of solutions throughout their boat’s lifecycle. Princess is known to have incredibly loyal customers, with some on their eighth yacht, but now more than ever, they want to feel connected to and invested in the brand beyond ownership. Adapting has been a relatively organic process for us. Our founder David King would refer to our repeat customers as ‘the Princess Family,’ and like a family, we are always talking to each other. Having this level of access allows us to understand evolving expectations and get direct feedback on the new products and services we have designed to remove complexities from the ownership experience. Examples include the recent launch of our Residence Collection, which delivers tailored linens and mattresses direct to the owner’s boat, and Sea Ready, a turnkey selection of recommended tenders, toys, fenders and sea safety equipment. We also appointed a Customer Engagement Director in 2025. In addition to arranging shipyard tours where clients can see the craftsmanship of our boatbuilders first-hand, owners receive personalised gifts and invitations throughout their ownership journey and are involved in conversations that shape future models.
As Chief Commercial Officer, you oversee the end-to-end customer journey from first contact to aftersales. What are the biggest challenges in maintaining a seamless luxury experience across such a complex value chain?
Today, our biggest challenge is the current geo-political landscape and the obstacles it can present to fulfilment and future sales. Prospective buyers are more hesitant, opting to hold out on big purchases like yachts until the markets are more stable. From an operational standpoint, you can be prepared for a series of outcomes and think you are in control, but delivery to customers in regions like the Middle East and Asia, or getting certain parts for boats already in build, has been challenging. This said, the richness of the business and longevity of our team members means we are always focused on finding workarounds. It is important that our customers only see solutions.
Customisation has become increasingly important in the superyacht and premium yacht sectors. How is Princess balancing the growing demand for bespoke solutions while preserving the efficiency and quality standards of series production?
Customisation of our yachts has always been integral to our offering, but in today’s fast-moving manufacturing environment, we have a more proactive approach. The Odyssey 108 – our first in a new class of superyachts launching in 2029 – is a great example of this. Customisation is built into her design. For instance, owners can choose to make the flydeck office into a captain’s cabin, gym or a servery extending the galley area. In January, we launched Signature by Princess, a premium design service that merges our bespoke and personalisation team with the creatives in our Design Studio. The objective is to simplify the client journey, from initial inspiration through to final execution, providing a single point of access to owners. So far custom projects have included on board gyms, saunas and cinema suites where every design detail is considered, from the materials to colour schemes, so that every yacht is a reflection of the owner.
The Mediterranean remains one of the world’s most important yachting regions. What trends are you currently seeing among owners and buyers in markets such as Greece, Italy, France, and Turkey, and how do they influence Princess’ commercial strategy?
The Med is still one of the world’s premier yachting destinations, loved by traditional family boaters, and increasingly larger vessel owners. These groups are now growing with a surge in diverse international boaters wanting to experience the territory. This is underpinned by investment in new marinas and marine infrastructure, particularly in Greece and Turkey. These trends are directly shaping our commercial strategy. We are strengthening partnerships that support large yacht ownership, expanding our service capabilities across Mediterranean hubs, and refining our product offering to meet growing demand for lifestyle-driven onboard experiences. This approach opens up new customer segments while deepening relationships with our established owner community.
Looking ahead, what do you believe will define the next generation of luxury yachting -whether in terms of design, sustainability, technology, or customer experience- and how is Princess positioning itself for that future?
Luxury is increasingly shifting from ownership alone to ownership as a vehicle for community and shared experiences. Our customers see Princess as a lifestyle choice, and they look to the brand to provide opportunities and conveniences that mirror the same quality and attention to detail as our yachts. Many of our distributors, including partners in Italy and Australia, host annual rendezvous events that bring customers together and strengthen the sense of community around the Princess brand. A great example of this is hosted by Princess Yachts America, where owners gather at unique destinations twice a year to enjoy the Princess Owner’s Spring and Summer Holidays. Over a long weekend they enjoy great food and a range of shared activities at sea while cultivating friendships with like-minded people. This year, more than 60 owners came together at Ocean Reef Club, highlighting the strength and appeal of the Princess community. We see this event as a blueprint for our wider Princess family that can be replicated across other markets, including the UK and the Mediterranean.
As well as finding new ways to bring existent customers closer to the brand, we are designing boats to have broad, experiential appeal among UHNW audiences who are new to yachting. Across the luxury sector, we’re seeing growing interest in membership-styled offerings, including art and culture, luxury travel and private aviation. One way to explore the yacht lifestyle is through fractional ownership, which allows new audiences to experience ownership benefits as part of a community before choosing to purchase outright. As it relates to product, innovation and sustainability will be at the forefront, with a focus on solutions that deliver tangible benefits to owners while also reducing environmental impact. Across the industry we expect to see new technologies that enhance the ownership experience, improve efficiency and optimise performance. Our OEM partners will play a crucial role in helping us bring the latest innovations to our yachts as quickly and effectively as possible.
Greece continues to strengthen its position as a leading yachting destination. How important is the Greek market for Princess Yachts today, and what opportunities do you see emerging in the Eastern Mediterranean over the next five years?
Greece and its islands are increasingly popular with the international boating community, including neighbouring markets such as Bulgaria, Romania, Turkey and Georgia. New marina developments, excellent nautical infrastructure and best-in-class service facilities are further strengthening the destination’s appeal. At the same time, Greece has a flourishing yachting ecosystem and is emerging as a European hub for owners and brokerages.
