Simpson Marine Expands in Vietnam
Simpson Marine, Asia’s premier yacht dealership celebrating 40 years of business operations, is delighted to announce its strategic expansion into Vietnam in partnership with 02H20 Vietnam, represented by Alexandre Heng, a renowned yacht and jet sales brokerage company in Asia, and Sassy Nguyen, CEO of the SS&Sons Group, a holding company representing a number of prominent luxury brands in Vietnam. Under the ownership of Sanlorenzo, Simpson Marine continues to expand in new emerging markets in Asia-Pacific. Vietnam, with its stunning coastline of 3,260 kilometres and 2,800 islands with nearly 400 in the famous Ha Long Bay area alone, picturesque bays, and vibrant culture, presents immense cruising potential. The country’s rapid economic growth has fuelled affluence, fostering a burgeoning affluent class eager to embrace the yachting lifestyle.
As the leisure-boating lifestyle gains traction, marinas are gradually being developed with the main ones in Ho Chi Minh City and Nha Trang, and key industry players gradually investing in local operations. The opportunity to build new marinas could position Vietnam as a popular yachting destination in Asia. Despite the promising landscape and its strategic cruising location within South-East Asia, Vietnam's yachting scene is still at an emerging stage. High import taxes for private yachts, and complex registration procedures for pleasure vessels have slowed the growth of the yachting lifestyle, which has thrived in neighbouring Hong Kong and Thailand. However, with a strong local expertise, Simpson Marine will work with local industry organisations to drive change and growth enabling more owners in Vietnam to enjoy boating.
“The partnership with O2H2O Vietnam, represented by Alexandre Heng and Sassy Nguyen, further strengthens Simpson Marine’s presence in Asia and Vietnam, a market previously served through our Hong Kong and Thailand offices. Today, we celebrate a major milestone in our business operations with a local Vietnam office finally ready to serve customers right on their doorstep. Together with O2H2O Vietnam, we will unlock the full potential of Vietnam’s yachting industry leveraging on their local expertise, experience and passion for bespoke luxury and yachting”, explains Richard Allen, COO of Simpson Marine Group. “With 20 years of involvement in the yachting industry in Asia, I am absolutely thrilled to launch this sensational cooperation between O2H2O Vietnam together with Simpson Marine and Sanlorenzo Asia. As deeply passionate and dedicated professionals, our common vision is to spread the yachting culture to the beautiful coastline of Vietnam by offering the best world-class yacht brands and nautical lifestyle experience”, shares Alexandre Heng of O2H2O.
“Since 2013, I've had the privilege of launching numerous prestigious luxury brands to the Vietnam market. This experience has fuelled my passion for elevating life experiences in Vietnam. As a natural evolution of the dynamic market environment in the country, it makes perfect sense for us to expand now our portfolio of products and services by offering the best yacht brands to our loyal base of discerning customers. We very much look forward to expanding their passions to the yachting lifestyle. And we are equally proud to team up with Simpson Marine and become the official partner for Sanlorenzo, Bluegame and Fairline in Vietnam”, adds Sassy Nguyen, CEO of O2H2O Vietnam. Simpson Marine’s Office in Ho Chi Minh.
The new office in the business district of Ho Chi Minh City will officially open in early autumn hosted at S&S Christie's International Real Estate office, presenting an upscale environment for both brand display and customer hosting. This strategic location will serve as a hub for yacht sales, charter services, and customer support. This expansion underscores Simpson Marine’s commitment to providing exceptional yachting experiences in Vietnam. As part of the Sanlorenzo Group, Simpson Marine is well-positioned to lead the industry’s growth in this promising market.