The Setag founder reflects on a highly successful career in the yachting industry – and the inspiration behind Setag Yachts.

The easy option would have been to retire. In my career, I have gone from Technical Engineering Apprentice to CEO. During my 31 years at Princess Yachts, I grew the company from a £30million to a £340million business, with a workforce swelling from 400 to 3,300 people – and leading the process of its purchase by the LVMH group in 2007. When I joined Princess in 1989, there were no bills of material, no planning system and no computers, mobile phones or emails. By the early 1990s we had implemented the business systems to enable us to build 1,000 boats in a single year.

Chris portrait

It wasn’t always plain sailing, of course.

We had to steer our way through turbulent waters in the 90s, when the European recession and war in the former Yugoslavia hit the industry hard – and again in the late 2000s. I would probably say that growing the company amidst the turmoil following the financial crisis surrounding Lehman and the subsequent global recession (where we were the only significant player in the industry to avoid a serious decline) was probably my greatest achievement, alongside winning the much-coveted World Super Yacht Awards a number of times (indeed every time we entered).

IT-wasnt-always-plain-sailing.PRINCESS_35M_Hi-0434-credit-Quin-BISSET-RT_landscape

So, when I decided to step back in 2019, reducing my involvement to a part-time role as advisor to the Chairman, it was with a view to finally enjoying my time in the sun after three decades building Princess Yachts towards record sales and profitability, with the strongest product offering, and represented by the world’s strongest dealer network.

But during this unprecedented period, as Brexit loomed and the dreaded Covid-19 pandemic swept across the globe, I used the time to think about our industry and hit on what I believe is a significant gap in our market. Whilst yacht sizes and costs have increased (the typical pre-owned yacht now varies from £300,000 to £5million in our market sector) there has been until now no qualified service, generating complete confidence for total renovation and refurbishment of pre-owned yachts in this space, similar to that offered in the Mega-yacht market.

This was the inspiration behind launching Setag:

The opportunity to offer a unique, unrivalled luxury refit service for pre-owned yachts, where owners can experience the same level of personal service and expertise they have come to expect from the leading yacht manufacturers.

Crucially, I have been able to draw on the best talent in the business thanks to the friendships I have developed during my time in the industry. When I first began my journey, a number of the extremely talented boat builders at Princess, realising they needed planning and organisational help, befriended me and taught me all aspects of laminating, furniture construction and the complexity of assembly.

This gave me a deep understanding and respect for the craftsmanship that lies at the heart of our industry. But at the same time, despite the rivalry of being in a four-horse race amongst some of Europe’s strongest builders (Sealine, Fairline, Sunseeker and Princess Yachts), I also developed an appreciation of the skills and innovation that our competitors brought to the table. For instance, when Fairline launched the Squadron range, it was in my opinion, the single greatest move in our industry – an enormous leap in design and quality of finish. This in turn spurred on myself and my forever mentor David King, as we developed our own new and exciting V class range and in leading the way on flybridge development.

Today, I’m proud to say that Setag can now deliver an unparalleled level of service and expertise in the pre-owned market, working alongside extremely talented colleagues from my one-time adversaries, offering our services to Princess, Sunseeker and Fairline owners.

This is a unique opportunity to deliver a refit service that allows you to personalise and refresh the interiors of your treasured yacht, as well as updating all technical functions through the expertise of our team of specialists who designed, engineered and built these three great brands for decades.

Redefined by Setag

Each project is truly bespoke, catering to individual needs. If you are moving into a new house, you naturally want to renovate to put your own stamp on it – to make it feel like your home. So, why would you be happy to live with someone else’s taste when it comes to your yacht?

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Yachting Life

To be a yacht owner is a very special feeling. To feel the freedom of being on the water, away from the pressures of everyday life, with no deadlines but those set by the sun, is a very unique type of escape. It offers you a sense of luxury that you can rarely attain from material products – the luxury of time and space.

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Yacht Refit

One of the most common questions we are asked by potential clients is what we mean exactly when we talk about offering a refit service for yachts. There is a false impression about yachts that they only require a refit if they are on their last legs and are barely seaworthy. This simply isn’t the case.

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With SETAG, you can make a huge difference when you buy something secondhand, maybe a bit tired and then you put all of this beauty in it and you create what effectively is a brand new boat. Completely to your own liking, your own standard...creating the perfect boat for us.
Delighted SETAG customer - Squadron 42 owner
Brilliant concept...new boat look and feel at pre-owned prices - by the industry experts. Recycling at its best!
Briony Newington - Founding Partner, Fairline Yachts.
The great thing is, none of this is off the shelf - I love this boat and now she’s got her frock on...this is the best money I've spent.
Delighted SETAG customer - Princess 61 owner
If you want to redefine, refit and remaster your boat who better to do it than the people who designed it in the first place? "What a fantastic idea!"
Miles Morehouse – Marketing Director, Fairline
We cannot recommend the SETAG team highly enough. If you love your current boat, then for a fraction of the cost to change it, have it SETAG’d. The SY branding certainly helped us obtain a premium price. We got what we paid for her in 2017 plus what we spent with you!
Delighted SETAG customer - Targa 50GT owner
I have worked with Chris for over 30 years and I’m pleased to see him develop his own brand - along with likeminded people with industry-leading expertise. The future is bright for Setag Yachts and pre-owned yacht owners, who can now refurbish their vessels to today’s - or even tomorrow's standards.
David King - Founder, Princess Yachts.
That has been one of the key selling points for us – having that personalised service and having a boat that is unique to us – is standout in its own right. We are pretty blown away…very very pleased. I think it’s fabulous…it has transformed the boat.
Delighted SETAG customer - Targa 47 owner
The perfect way to open up a new market: the "true reflection of luxury". Setag gets it: simplicity and personalisation are key – with the depth of knowledge to deliver.
James Barke – Managing Director of Boats.co.uk
Setag are probably the only company who can carry out all the tasks as a ‘one stop shop’. Other yards were reluctant to price work and needed to subcontract many tasks meaning higher costs and longer lead times. If you are in any doubt speak to Chris and his team, they know boats like no one else.
Delighted SETAG customer - Princess 460 Owner
We have been waiting for this quality of service: a comprehensive, professional refit that we can rely on – because of the pedigree of its staff, with over 200 years' experience in our market.
Christopher Head – Group Sales Director for Sunseeker London Group
You have put Princess magic into our beloved Broom.
Delighted SETAG customer - Broom 370 owner
Never have I come across a more able collection of professionals in this market. We have complete trust in Setag, since its team has been in the business for as long as we can remember. We're very excited to welcome this specialist refit company into our portfolio.
Colin Capewell - Managing Director of Princess Motor Yacht Sales

Testimonials

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