Camper & Nicholsons has announced their new board members following news earlier this month of significant investment from Lai Sun Development Company Limited, bringing valuable experience in the luxury sector throughout the Asia Pacific region.
Lai Sun Development Company has a portfolio including several Michelin star restaurants, luxury residential and commercial property developments in Hong Kong and China, and luxury hotels in China, Vietnam and Hong Kong. It is also the leading Chinese-language entertainment provider in Asia.
As the most prestigious name in yachting, Lai Sun Development Company recognised significant potential in the Camper & Nicholsons brand, offering stable, long-term investment with expansion throughout Asia. According to the Wealth-X Billionaire Census 2015/2016, Asia now leads all regions in the growth of billionaires and wealth at 15.2% and 19.6% respectively. Asia also had 57% of all net billionaires and 70% of new billionaire wealth in 2015, with China and ASEAN countries leading the way.
However, despite 26.1% of the world’s billionaires coming from Asia (645 billionaires) they do not fall in the top five countries for superyacht owners, indicating untapped potential in this region.
According to The State of Wealth, Luxury and Yachting 2016, published by Wealth-X and Camper & Nicholsons, the top countries for superyacht owners are the USA, UK, Italy, Australia and Russia. However, the report also states that for UHNW individuals without yachts, Japan and China are firmly in the top five.
The trend for yacht ownership in Asia is still in its infancy, but Asia has the fastest growing population and wealth worldwide. The potential of the Asian market is therefore of paramount importance to the superyacht industry as a whole, and Camper & Nicholsons is now well positioned to strengthen its standing.
Dr. Peter Lam was appointed Chairman of the Board of Directors of Camper & Nicholsons International on 14 October 2016, bringing vast experience in property investment and development, hospitality, media and entertainment businesses. He is also the Chairman of Lai Sun Group, a Hong Kong based group of companies listed on the Hong Kong Stock Exchange. Dr. Lam is also the Chairman of the Hong Kong Tourism Board and an ex officio member of the Hong Kong Trade Development Council.
Lester Lam was also appointed a member of the Board of Directors of CNI. A graduate of the Executive MBA Program at the Kellogg School of Management at Northwestern University, Mr. Lam is also CEO of Lai Fung Holdings Limited, a Lai Sun Group company listed on the Hong Kong Stock Exchange whose principal business is property investment and development in China.
As yacht owners themselves, Dr. Lam and Mr. Lam understand the intricacies of the superyacht industry and bring a passion for yachting to their work with Camper & Nicholsons. Together with Managing Director, Paolo Casani, this collaboration will ensure delivery of the company’s strategic plans to full potential.
Mr. Manlio Niccolai of Fincantieri, is welcomed as a new board member, replacing Marco Mazzu.
The Camper & Nicholsons Board of Directors now includes:
Dr. Peter Lam, Chairman, Lai Sun Development Company Ltd.
Lester Lam, Director, Lai Sun Development Company Ltd.
Riccardo Bonalumi, Director, Fincantieri
Manlio Niccolai, Director, Fincantieri
Gualtiero Giori, Director, 1782 Group
Paolo Casani, Managing Director, Camper & Nicholsons International