 Case 59 MarineMaxB. Rajesh Kumar
A chapter in Rising Stars, 2024, pp 443-449 from Springer Abstract: Abstract MarineMax is the world’s largest recreational boat and yacht retailer which sells new and used recreational boats, yachts, and marine-related products and services which include yachts, yacht concierge, and superyacht services. MarineMax was incorporated in January 1998. The company commenced operations with the acquisition of five independent recreational boat dealers on March 1st, 1998. The company is located globally with operations in more than 125 locations. The company has 78 dealerships and 57 marinas. The integrated business division of the company operates luxury marinas in yachting and sport fishing destinations around the world. MarineMax is the largest superyacht service provider with brands such as Fraser Yachts and Northrop & Johnson. Cruiser Yachts is involved in the manufacturing of boats and yachts and sells the products through retail dealership locations and independent dealers. Powerboats are manufactured by Intrepid Powerboats and are sold through a direct-to-consumer model. The wholly owned subsidiaries of MarineMax provide finance and insurance services. The company also owns Boatyard, a well-known digital product company. SkipperBud’s is one of the largest boat sales, brokerage, service, and marina/storage groups in the United States. The Retail Operations segment sells new and used recreational boats which includes pleasure and fishing boats with a focus on premium brands. The company also sells related marine products which include engine trailers, parts, and accessories. The company also provides repair, maintenance, and slip and storage services. MarineMax facilitates boat financing, insurance, and extended service contracts along with boat and yacht brokerage sales and yacht charter services. The Product Manufacturing segment includes wholly owned subsidiaries such as Cruisers Yachts and Intrepid Powerboats. Cruisers Yachts is one the world’s premier manufacturers of premium sport yachts and yachts. Intrepid Powerboats is a producer of customized boats with a focus on innovation and high-quality craftsmanship. The company is also the largest retailer of Se Ray and Boston Whaler recreational boats which are manufactured by Brunswick Corporation. By September 2022, the company had 3410 employees of which 933 were employed in the yacht manufacturing operations. In the year 2021, the US recreational boating industry had revenues of $56.7 billion in retail sales. The company has never declared or paid cash dividends on its common stock. The company has adopted differentiation strategy to offer products that combine advanced technology with unique gameplay experiences for consumers. The average growth rate in revenues and net income were 19% and 33% during the period 2018–2022. The total monthly cumulative return for the stock was 98% compared to 37% returns registered by market index Russell 2000 during the period April 2018–March 2023. Date: 2024 There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:spr:mgmchp:978-3-031-50032-9_59 Ordering information: This item can be ordered from DOI: 10.1007/978-3-031-50032-9_59 Access Statistics for this chapter More chapters in Management for Professionals from Springer |
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