Gulf Craft Feb 23, 2022 1:42:47 PM 5 min read

Gulf Craft "Dedicated and Focused" on Growing US Market

UAE shipyard Gulf Craft is set to nurture and further increase its global dealer network after dealers delivered 65% of the yard’s total sales in 2021.

In 2021, the shipyard concentrated on growing its dealer network in Europe, where it created 12 new dealers last year. Looking ahead, the yard will spend 2022 “growing” these dealers at a “steady pace” while eyeing new opportunities in the US.

“If we call 2021 the year of Europe – we are calling 2022 the year of the US,” says CEO Tala Nasralla. “We have a huge market in the US and the Americas in general and want to grow our dealership and marketing presence there.”

2022 will see the shipyard launch “a dedicated and focused approach” on the US market, while also targeting further opportunities in Australia.

“We’ve had a great experience in Australia with the dealer we’ve been working with there and we’d like to refocus some of our energy on the Australian market.”

Tala Nasralla

The increase in sales coming via Gulf Craft’s dealership network signals a shift in the demographic of Gulf Craft clients triggered by the pandemic, according to Nasralla.

He points to an increase in “younger families approaching the yachting lifestyle”. These clients are specifically requesting offices and gyms on board their yachts as more owners work remotely from their superyachts. “We are definitely seeing a shift in younger buyers,” Nasralla adds.

There has also been an increase in the number of clients staying within the Gulf Craft brand and upgrading to larger models within the yard’s portfolio instead of looking elsewhere. “They are growing with the brand by coming back to us for a bigger boat,” Nasralla says.

The beach club on board the Majesty 175 superyacht

Gulf Craft is therefore paying particular attention to its product line. “If we see gaps in our range, we fill them – we’re trying to make sure we cover the whole spectrum.”

The yard will use the Dubai International Boat Show in March to present a new product designed to cater to its younger clients that Nasralla describes as “young, stylish and full of volume”.

At the top of its range, the 54 metre Majesty 175 will remain the largest yacht offered by Gulf Craft for now. “We are comfortable with the 175 from a size perspective,” Nasralla says. However, he doesn’t rule out the development of larger models in the future. “Once we have a few (Majesty 175s) under our belt, we will see if it’s possible to grow.”

Nasralla, who was appointed CEO of the company in February 2021, described the delivery of the first Majesty 175 Serenity MRF in 2021, as “the cherry on top” of his first year in post.

“The past year at the helm has been a very special time and I’m grateful and humbled by the team here and the sweat and effort that goes into pulling this magic together,” he adds.


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