The History of Princess Yachts: From Humble Beginnings to Luxury Icon

Updated March 21, 2025

4 min read

The History of Princess Yachts: From Humble Beginnings to Luxury Icon

The highly esteemed Princess Yachts brand was founded in Plymouth, England, in 1965. The company’s origins are deeply rooted in maritime history, as its current shipyard was once a former naval yard dating back to the 17th century—steeped in a heritage of famous voyages.

The story of Princess Yachts began with David King and two friends, who were both serving in the Royal Navy. They didn’t see a long-term future for themselves in the military, but an unforgettable holiday on the Norfolk Broads sparked an idea—why not start a boat charter business in Plymouth?

Table of Contents

From Chartering to Boatbuilding | The Birth of Project 31

They set out to find a 30-foot boat but were shocked by the prices and decided to build one instead. They set up shop in a rundown building near Stonehouse Creek, persuading the local fire brigade to hose down the sulfur-covered walls with a barrel of beer.

After cleaning up, they bought a hull and deck, installed an engine, and built their first boat: Project 31. Midway through, they realized chartering wasn’t viable due to Plymouth’s unpredictable weather, so they opted to sell the boat instead.

A buyer in Cornwall paid $4,200, but they later discovered it had cost them $4,300—a small loss. However, they had already sold two more boats and saw a clear future in boatbuilding. As David King put it: “It was like riding the crest of a wave.”

The Early Days of Princess Yachts

Between 1966 and 1969, over 150 Project 31 yachts were built and sold. Encouraged by early success, the company expanded to larger models, including the Princess 32—the first yacht to bear the Princess name and one of the brand’s best-selling models to date.

By 1974, the company introduced the Princess 37 V Hull, their first flybridge motor yacht, powered by high-performance inboard diesel engines.

Princess 30 DS | Olesinski Designs

30 ds In 1980, renowned yacht designer Bernard Olesinski created his first Princess Yacht, the 30 DS, marking the start of a partnership that continues to this day. Later models, such as the Princess V39 and V52, set new standards in performance and seaworthiness, laying the foundation for today’s V-Class series.

The Introduction of Princess Yachts America

In 1995, the company (then still called Marine Projects) formed an alliance with Viking Yachts to introduce Princess Yachts to the U.S. market. This partnership led to major design adjustments to suit American buyers, including:

More spacious interiors
Upgraded generator systems for warmer climates
Reconfigured engine rooms for increased horsepower

Today, Princess Yachts America (formerly Viking Sport Cruisers) remains a leading distributor of Princess Yachts in the United States.

Marine Projects Becomes Princess Yachts International

In 2001, Marine Projects officially became Princess Yachts International. Production was divided among three sites: Devonport, Plympton, and Lee Mill. That same year, Princess Yachts launched the Princess 25 Metre motor yacht, marking their debut in the superyacht market.

Princess 25M In 2008, the company expanded further after being acquired by L Capital, a luxury investment group affiliated with brands like Louis Vuitton, Fendi, and Krug. Shortly after, Princess introduced its M-Class superyacht series, beginning with the Princess 32M motor yacht in 2011.

Princess Yachts 32M

The Launch of the 40M | Princess’ Largest Yacht

Princess Yachts 40m In 2012, Princess Yachts introduced the Princess 40M, the largest yacht in the company’s history. The 132-foot composite motor yacht was the largest ever built in Britain and won the prestigious World Superyacht Award.

Modern-Day Princess Yachts

Princess F65 Today, Princess Yachts operates in 119 countries and employs over 3,000 people worldwide. The shipyards cover more than 1.1 million square feet, ensuring world-class craftsmanship. Princess Yachts is committed to excellence in design, function, and performance. It is also the first luxury yacht builder to partner with the Marine Conservation Society, reinforcing its dedication to sustainable yachting.

The Princess Yachts Lineup

Princess Yachts offers models ranging from 40 to 95 feet, categorized into six distinct classes:

X-Class Motor Yachts
Y-Class Motor Yachts
F-Class Flybridge Yachts
V-Class Sports Yachts
S-Class Sportbridge Yachts

With such a diverse lineup, Princess Yachts has something for every type of boater, ensuring unforgettable experiences on the water.

Your Princess Yacht Specialists

As an authorized Princess Yacht dealer since 1996, Galati Yacht Sales is the industry leader in helping customers find their perfect yacht. Our Princess Yacht Specialists undergo extensive training at the Princess factory each year, ensuring they have in-depth knowledge of both new and pre-owned models.

This expertise allows our sales professionals to guide buyers through every aspect of the purchase, from features and options to performance and build quality.

Whether you’re looking for a new or pre-owned Princess Yacht, Galati Yacht Sales has the expertise and inventory to help you find the yacht of your dreams.
Learn More about the Princess Yachts Range