Maritimo aims at US market

by IBI Magazine on 1 Aug 2006 Maritimo USA has made a purchase order of 34 Maritimo cruisers valued at about AUS$50 million, according to a story on boatoz.com. Maritimo USA is a subsidiary of the Australian boatbuilder and includes a network of North American dealers. The order stipulated that the boats must be delivered within 12 months.

Dave Northrop, former vice president of sales for Tiara Yachts, heads the affiliate. The company is based in Seattle, Washington. Northrop said Maritimo's skylounge yachts are built to American Boat and Yacht Council (ABYC) and US Coast Guard standards. The boats are priced to compete below other similar motorcruisers in the US market. The company has also been helped by a favorable exchange rate.

Maritimo was founded by Bill Barry-Cotter. The order will push the company to AUS$200 million turnover a year well before Barry-Cotter expected, according to the story. 'Normally it could take an Australian company up to 20 years to reach this revenue but Maritimo has it in sight within in one-fifth of the time due to changing market dynamics,' said Peter Jenkins, vice president of marketing. 'We became profitable within just six months, and that was ahead of expectations. But the way we set up export agencies around the world, even before the boats were ready has helped get the brand recognised.

Maritimo intends to retain a high proportion of domestic sales. But it also intends to increase its exports to the Americas 'considerably' from the 2007 financial year.

'It requires understanding the complexities of exchange rates, differential tariff protection, international money markets and varying political climates,' said Jenkins.