Sarasota Yacht & Ship Aligns with Australian-based Yacht Sales Firm
Sarasota, FL- November 4, 2010 - Sarasota Yacht and Ship Services, Inc. (SYSS) announced today that it has reached an agreement with Leigh-Smith Cruiser Sales (LSCS), a long-established Australian-based brokerage firm, to create an international marketing alliance.
Agreement focuses on synergy between the two companies
The two international yacht sales firms have agreed to market one another's services in their respective markets, in an effort to expand their market reach by creating greater international exposure. The agreement outlines ways to create synergy while retaining the common goals of the two companies.
"In 2009, the U.S. economic decline resulted in a 9% decrease in sales from the previous year for the recreational boating industry. With the more developed boating countries approaching market saturation, brokerage firms like ours are looking for new customers", said Gary Smith, Senior Partner at Sarasota Yacht & Ship. The less indebted Asian economies such as India, South Korea, and Vietnam have started to pick up the slack from US consumers. These emerging markets offer the best opportunity for long term growth and prosperity in the marine industry. Due to the ever strengthening Aussie dollar, as well as some Asian/Pacific currencies, US-based yachts have been embraced by these new markets. Smith says, "As their buying power increases, US boats are becoming more appealing by offering a wide variety of boat models at bargain prices. Back in 2003, the U.S. was actually importing 10.5 million USD more recreational boats from Australia than it was exporting. However, recent estimates show a complete reversal in trade flow as the U.S. is now experiencing a trade surplus of over 75 million USD, making Australia the second largest export market for the U.S. boating industry."
Latest worldwide annual statistics of US boat and engine exports total 1.8 billion USD resulting in a US trade surplus 574 million USD. The new marketing alliance to promote services overseas is a testament to both companies' ability to remain leaders in the growing trend toward an international brokerage market. "Sarasota Yacht & Ship has been one of the industry leaders in exporting yachts around the world. SYSS and LSCS recognize how the changing market conditions have generated a growing demand for US-based boats," said Jason Mashke, Managing Director at Sarasota Yacht & Ship. Given Leigh-Smith Cruiser Sales strong and reputable presence in the Australia and Asia, management at Sarasota Yacht and Ship anticipates greater brokerage sales in their future as well as further strengthening their international brand.
Barry Bailey, International Sales Manager for LSCS, "We are excited about this opportunity to take two of the highest respected yacht sales firms in the world to a whole new level. We are entrenched in Australia, New Zealand, Japan, and many parts of Asia. Sarasota Yacht & Ship has the same level of success in the US and European markets. The global outreach for both companies will now be outstanding." Bailey has extensive experience in international marketing and sales, most notably as the Partner and International Sales Manager for International Trade & Associates an LLC company based in the USA with offices in USA, Europe and Australia. Leigh-Smith Cruiser Sales was founded in 1964 and is based at Gold Coast City Marina which also owned and developed by the principles of LSCS. The marina is valued at over 70 million USD. The company spends in excess of 300,000 USD in local print advertising alone in Australia and Asia. The brokerage firm offers over 200 quality brokerage yachts as well as various other new boat lines.
Smith further commented, "We have been searching for an outlet to further our involvement in the exportation of yachts worldwide. Given our excellent working history with Barry and recognizing his great reputation as an industry leader, this alignment allows for just such a relationship. As the dollars increases and declines on world markets, we now have the ability to fully take advantage for our clients and engage in all aspects of a truly worldwide marketing effort."