M&M enters deep waters, turns yacht-maker
Move over Vijay Mallya, it is now time for every Satpal, Jignesh and Moorthy who has arrived to own a personal, desi-made yacht.business Updated: Feb 18, 2009 12:00 IST
Move over Vijay Mallya, it is now time for every Satpal, Jignesh and Moorthy who has arrived to own a personal, desi-made yacht. Mahindra Group (M&M) is launching Odyssea, India’s first branded yacht venture.
The company will initially target Mumbai, Goa and Kochi with the boats, which would be sold by direct sales agents to corporates, travel agencies and individuals.
While the prices of these babies have not been disclosed yet, they are expected to be significantly cheaper than the Rs 60 to 70 lakh on-shore price of imported boats. “Anyone who owns a Rs 50-lakh flat is a potential customer,” said Zhooben Bhiwandiwala, EVP, M&M, who heads the venture.
If that whets your appetite, be warned that the actual cost of the boats could be significantly higher given the running and maintenance costs. Driving a 33-foot, 1000-kg boat, particularly something capable of making over 40 knots (75 kph) requires training and a lot of equipment.
In comparison, a Honda City is just about 14 feet long and weighs about the same. You would also need a comprehensive after sales and maintenance package from M&M; after all, a yacht is no Maruti.
The Mahindra Odyssea product range will be available in a 22-foot and a 33-foot version in the beginning.
Mahindra’s entry into this segment marks the first ever foray of a major Indian industrial group into the leisure boating industry which has, till recently, been marked by a small number of independent agencies.