Luxury French brand eyes cruise business

Luxury French brand eyes cruise business

Luxury cruising could take a new turn shortly, with Artemis looking to acquire PONANT in the near future.

Artemis, the holding company of the Pinault family, announced it is holding exclusive talks to discuss the acquisition of the luxury cruise company.

Founded in 1988 by Jean-Emmanuel Sauvée and headquartered in Marseille, PONANT takes its grand French tradition very seriously, since venturing into a number of destinations, including the polar region.

The company has the youngest fleet in the market, including Le Ponant, the celebrated 88-metre, three-masted yacht, plus another four luxury cruise yachts, each with between 32 and 132 cabins and suites.

In 2015, PONANT will transport over 30,000 passengers, with revenues expected to exceed 140 million euros.

The demand in the luxury cruise market has been strong of late, particularly thanks to the affluent client bases in North America and Australasia.

Artemis hopes to provide the capital to fuel PONANT’s ambitions, its international expansion and the company’s next level of growth.

Partnering closely with co-founder and ceo Jean Emmanuel Sauvée and deputy ceo Véronique Saadé, Artemis will continue to pursue PONANT’s  strategy while preserving its refined French style.

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