With a name to be formally released after the summer, their main focus for the moment remains looking after their clients and investing in R&D for their new visual identity, strategic business model and marketing approach which will be launched in September. Mark Elliott, consultant at IYC commented "we're undertaking significant investment in research and strategy to ensure our clients continue to receive an unparallelled level of service".
Speaking exclusively to The Superyacht Owner from their Monaco office, Managing Partner of IYC and the driving force behind the merger, Kevin Bonnie shared "while the team and I are thrilled with the new merger, both companies aim to continue to offer the high level service and attention we've afforded our clients in the past. Owners, captains, their staff and guests remain our top priority and we're pleased to now be able to offer a new angle and new step on the ladder for them."
(L-R) Kevin Bonnie and Stefanos Macrymichalos
Michel Chryssicopoulos, partner at Cape4 Yachting shares the IYC team's passion and excitement for the future. "We promise that the merged entities of IYC and Cape4 will bring something new and exciting to the luxury yachting and lifestyle market". With a combined 11 offices and 90 staff worldwide, the partnership will provide services to all corners of yachting - from yacht sales and marketing, global charter retail and management, interactive yacht management and shore support, crew placement, insurance and claims management as well as travel agency services.
Stefanos Macrymichalos, one of the principal partners is looking at the new development as the next step for the yacht industry. Speaking with The Superyacht Owner, he explained "we will be pooling our cross-border resources to enhance the service with provide our clients. Owners a very cautious of relevant costs and demand a high level of professional expertise across all disciplines".
As the summer charter season hits full swing, the newly formed team will focus on the inner workings of their partnership and aim to have further updates for the industry by the close of summer. A sign of further mergers to come? Perhaps insight to how the market is growing and evolving? Macrymichalos thinks so as he concluded, "we expect to the industry to consolidate over the next three to five years".
Watch this space.
If you like reading our Editors' premium quality journalism on SuperyachtNews.com, you'll love their amazing and insightful opinions and comments in The Superyacht Report. If you’ve never read it, click here to request a sample copy - it's 'A Report Worth Reading'. If you know how good it is, click here to subscribe - it's 'A Report Worth Paying For'.