- Recreational boating industry seeing accelerated growth as demand for high quality sea vessels is on the rise
- Victory Marine Holdings diversifies its products and services to create a one-stop shop for customers
- 7,000 square foot manufacturing facility being leased by the company in an effort to manufacture boat trailers in-house
As more and more people spend their leisure time on the water, one company looks to stay abreast of the thriving recreational boating industry. Victory Marine Holdings Corp. (OTC: VMHG) is a yacht sales, brokerage and consulting business out of Miami, Florida. It boasts an extensive inventory of new and used boats, financing, insurance, documentation and recreational marine accessories, and it expects to benefit from a growing demand for tourism and water sports activities in the United States.
The recreational boating market is seeing healthy growth, especially in the state of Florida, which houses the largest U.S. recreational marine market at $3 billion (http://ibn.fm/YikfH). According to a report by Global Market Insights, Inc., the recreational boating market in the United States is expected to reach $28.5 billion by 2024 (http://ibn.fm/LtIZD). Victory Marine Holdings has been actively making moves to stay abreast of this growing market.
Several strategic moves position the company to continue its financial vitality in the industry. First, it is pursuing its own line of boat manufacturing. To begin, the company is in the final stage to lease a 7,000 square foot manufacturing facility in Miami, Florida. As a new location for Excalibur Trailers USA, Corp., a subsidiary of Victory Marine Holdings, this expanded space will give the company room to grow, supporting its goal of manufacturing its own line of boat trailers by the end of 2018. Additionally, the company continues to move forward in manufacturing its unique line of boats.
These tactical moves promise to increase the overall revenue of the company. Consequently, by manufacturing and selling its own products, Victory Marine Holdings will be able to promise larger profit margins for its stakeholders. The company is well on its way to reaching its goal of providing clients with a one-stop experience for all of their recreational boating needs, as it can offer not only in-house product manufacturing, but also brokerage and consulting services.
Victory Marine Holdings is also amplifying its presence in the market and deepening its communication with shareholders. Recently, the company launched a new investor relations website in an effort to effectively communicate with both shareholders and potential investors. The company also sought new providers and technology to enhance its products and product knowledge at the 2018 International Boatbuilders’ Exhibition and Conference (IBEX), which saw a 23 percent increase in attendance over last year (http://ibn.fm/PQYrH). IBEX, known by those in the industry as “the largest technical marine event in North America, and the three most valuable days of the year for all marine professionals,” connects investors and customers to the companies and technology evolving and improving the recreational marine industry (http://ibn.fm/PLmCV).
Currently, Victory Marine Holdings is seen as one of the leading retailers of luxury vessels in the world. It is positioned strategically to keep abreast of the growing popularity of recreational boating due to the company’s heightened presence in industry news and quality products, as well as its commitment to providing a one-stop shopping experience for its customers.
For more information, visit the company’s website at www.VictoryMarineHoldings.com