Alexander Chetchikov, President of the World Luxury Chamber of Commerce, shares his personal observations from this year’s Cannes Yachting Festival, from changing buyer behaviour and new ownership models to the wider business opportunities surrounding the yachting industry.
After visiting the Cannes Yachting Festival this year, I came away with several observations that went beyond the yachts themselves. Some emerged from informal conversations, others from discussions with industry representatives, and a few simply became apparent while walking the show.
1. The boom years of buying whatever was available appear to be over
Despite talk of a slowdown, I saw strong buyer interest. What seems to have changed is how people buy. Clients are more selective, comparing options, asking more questions, and taking longer to make decisions. Winning their business now requires more effort.
2. A younger generation of buyers is becoming more visible
I was struck by the number of entrepreneurs in their 30s and 40s, including many from the technology sector. This generation of wealth comes with its own expectations around service, flexibility, and ownership. From what I observed, the presence of younger buyers was noticeable.
3. Co-ownership deserves more attention
Shared ownership can reduce both the purchase price and ongoing costs of owning a yacht. For businesses, this creates opportunities beyond the transaction itself, from bringing compatible co-owners together and structuring the purchase to ongoing management and support.
4. The sharing economy is creating new paths into luxury
Charter, club access, and subscription models allow people to enjoy the yachting lifestyle without committing to full ownership. The common goal is access to the experience with a level of commitment that suits the individual.
5. The business ecosystem surrounding a yacht is significant
Furniture, textiles, lighting, tableware, accessories, audio systems, and water toys are just some of the categories surrounding yacht ownership. The breadth of businesses serving this market was one of the things that stood out to me most.
6. Some of the most interesting opportunities begin after the sale
Maintenance, management, interior upgrades, and holiday planning all create opportunities for repeat business. A yacht sale can mark the beginning of a long-term client relationship involving an entire network of suppliers and service providers.
7. Wellness and longevity are becoming part of the conversation
I saw growing attention around wellness on board, including spas, cryotherapy chambers, infrared saunas, biohacking equipment and personalised nutritional programmes. It suggests that expectations around wellbeing are increasingly extending into the yachting experience.
8. New brands deserve attention
There were plenty of brands presenting interesting designs and technologies that would have been far less familiar just five years ago. For buyers and industry professionals alike, it is worth looking beyond the established names.
9. Cannes impressed me with the breadth of its exhibitors
Although, in my view, Monaco remains stronger when it comes to the representation of larger yachts, Cannes offered an impressive selection. Buyers and industry professionals had plenty to explore, discover and compare.
10. I would like to see more experiences around the festival itself
There is room, in my view, for deeper immersion in the yachting lifestyle through trips out to sea, dinners on board, intimate gatherings, and culinary or wellness programmes. Experiences like these can help prospective clients understand not only the yacht, but what life around it could actually look like.
What struck me most at Cannes was how much of the opportunity in yachting now sits beyond the yacht itself. New ownership models, services, design, wellness, hospitality, and experiences are all part of the wider business surrounding this industry.
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