Riviera sales bonanza

by Jeni Bone on 21 Dec 2008 Christmas has come early for Gold Coast manufacturer, Riviera, which is defying the downturn with $25m in sales of its new 21m (70ft) luxury cruiser.

The company has sold five of the biggest and most expensive vessels to come out of its Coomera workshop, the final vessel overseen by former-CEO, Wes Moxey, who described the model as his 'big dream' and the pinnacle of his 26 years with Riviera.

Riviera media manager, Denby Browning said one boat had been delivered to a new owner in Vanuatu, another three were under construction and a fifth would be started soon.

He said although the Riviera 70 was officially launched at SIBS in August, the company began taking orders more than a year ago, before the market began to show the real effects of the downturn.

Riviera has been hit hard by the global financial crisis, suffering a 35 per cent drop in luxury boat orders which has resulted in the company shedding more than 200 jobs since April.

The boat builder has sold 126 boats between July 1 and early December, which compares with 340 boats it produced in 2007-08.

The new 70ft cruiser, at $5m, is double the price of the company's previously largest boat, the Riviera 61. Its newest owners have variously described the vessel as 'the most amazing game fishing boat in the world'.

Browning said orders for the 70ft cruiser had not led to the re-employment of any staff, but they ensured the company retained its current complement.