Luxury corporation LMVH - Louis Vuitton, the world’s largest company for luxury products, has announced that it is going to get into the yacht business. The company is going to acquire Dutch luxury yacht designer and builder Royal van Lent.

Royal van Lent makes high-luxury yachts that sell for an average $44 million each. It is possible that, if the acquisition goes through, LMVH will provide some of the exclusive interior for the boats and yachts built by Royal van Lent.

The announcement by LMVH comes just a few days after Hermes has already gone into a joint-venture with yacht maker Wally, based in Monaco.

Looking at these two companies investing heavily in the yacht business, Hermes and LMVH - Louis Vuitton must believe that the market for yachts will not decline even in times of economic slowdowns. Quite the contrary: The market has always been relatively small compared to other markets and only targets a very specific group of customers. This group, however, has been growing for years as more people in countries like Russia and China have become very wealthy, and this trend is likely to continue.

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