The first boat sold by this company was a 31ft motor cruiser built and fitted out in 1965. Princess, based in Plymouth, builds luxury motor yachts which are sold all over the world. It recently opened a new office in Mayfair, and has plans to build models of 130ft and over. In 2008 L Capital, the investment firm sponsored by Moët Hennessy Louis Vuitton and Groupe Arnault, paid a reported £200m for a majority stake. Under chairman David King, sales in 2008 reached £206.6m, although the company has had to cut costs this year, as sales are set to fall.
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