Lexus Launches Yacht To Achieve Luxury Lifestyle Brand Status; Intersect By Lexus Already Does It
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Photographer: Noriko Hayashi/Bloomberg
Nothing evokes the “Lifestyles of the Rich and Famous” more than a yacht. I will never forget when I first glimpsed the yachting lifestyle, from afar, as the cruise ship I was on made port in Monte Carlo. I was gob smacked and couldn’t help but wonder who were on those boats and what kind of life they must lead.
It was the lifestyle I’d only seen in books and magazines, the image of Princess Di and Dodi Fayed, and going further back Jackie O and Aristotle Onassis on board the Christina O decked out with all the conspicuous-consumption excesses, including bar stools made from the leather foreskins of whales. Unforgettable!
I still haven’t gotten on deck of one of those megayachts, and I doubt I ever will, but I’ve gotten closer experiencing luxury cabin cruisers and superyachts. Even these more modest-sized boats evoke a rich and famous lifestyle in my book.
That’s why I am intrigued by a new venture that Lexus, Toyota’s luxury automobile brand, is launching next year with the introduction of a $3m+ yacht, technically in the superyacht class at 65 ft. It will have 3 decks and room for 15 guests plus crew quarters. It will be for sale in mid-2019. The inspiration for this yacht is a concept yacht the company displayed last year.
In explaining Lexus’ move into the yachting lifestyle, executive vice president Shigeki Tomoyama said, “Improving the quality of the cars themselves is important, but we also need to present car owners with a dream-like vision of the luxury lifestyle. A yacht is a very effective part of that.” Bloomberg reported this brand extension as a move for the company into the nebulous world of lifestyle branding, i.e. Lexus as a “purveyor of a luxury lifestyle, not just high-end cars.”
Lexus isn’t the first car company to take to the waters. Mercedes-Benz offers limited-edition branded yachts and BMW has been playing in yachts since 2011. But Bloomberg says Lexus will be the first one committed to mass production. Toyota has been active in the boat business since 1990 when it established its Toyota Marine division to build, sell and service yachts.
Lexus’ luxury lifestyle-brand aspirations
On the land, as on the seas, Lexus must battle two formidable competitors. Wealth Engine reports that Mercedes-Benz E Class and BMW 3 series outrank Lexus RX350 as the most popular car models among the wealthy. And US News and World Report ranks Lexus #6 in best luxury car brands, behind #5 Mercedes, #4 BWM, #3 Audi, #2 Genesis (Hyundai’s luxe brand) and #1 Porsche.
US News and World Report’s assessment of how Lexus stacks up with its competitive peers suggests why Lexus’ needs to elevate its brand of luxury. It credits Lexus as the more practical, dependable and reliable choice in luxury cars. That’s good for the “millionaires next door,” but not the kind of image that a luxury car should evoke. Who dreams of a practical luxury car? Buy a Toyota instead.
Lexus has been falling off the wish list of American affluent car buyers since 2010, when Bloomberg reports, “It ended its 11-year run as the US’s top-selling luxury car brand, being overtaken by BWM and Mercedes-Benz.” In 2017 sales of Lexus sedans are also reported to have declined by 25% and the company sold 10% fewer cars than Mercedes.
After much soul searching, Lexus abandoned its tagline “Pursuit of Perfection” last year in favor of a new one “Experience Amazing,” which is intended to shift the focus from the car itself toward the lifestyle experience that owning and driving a Lexus will help its owners realize.
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Photographer: Noriko Hayashi/Bloomberg
Nothing evokes the “Lifestyles of the Rich and Famous” more than a yacht. I will never forget when I first glimpsed the yachting lifestyle, from afar, as the cruise ship I was on made port in Monte Carlo. I was gob smacked and couldn’t help but wonder who were on those boats and what kind of life they must lead.
It was the lifestyle I’d only seen in books and magazines, the image of Princess Di and Dodi Fayed, and going further back Jackie O and Aristotle Onassis on board the Christina O decked out with all the conspicuous-consumption excesses, including bar stools made from the leather foreskins of whales. Unforgettable!
I still haven’t gotten on deck of one of those megayachts, and I doubt I ever will, but I’ve gotten closer experiencing luxury cabin cruisers and superyachts. Even these more modest-sized boats evoke a rich and famous lifestyle in my book.
That’s why I am intrigued by a new venture that Lexus, Toyota’s luxury automobile brand, is launching next year with the introduction of a $3m+ yacht, technically in the superyacht class at 65 ft. It will have 3 decks and room for 15 guests plus crew quarters. It will be for sale in mid-2019. The inspiration for this yacht is a concept yacht the company displayed last year.
In explaining Lexus’ move into the yachting lifestyle, executive vice president Shigeki Tomoyama said, “Improving the quality of the cars themselves is important, but we also need to present car owners with a dream-like vision of the luxury lifestyle. A yacht is a very effective part of that.” Bloomberg reported this brand extension as a move for the company into the nebulous world of lifestyle branding, i.e. Lexus as a “purveyor of a luxury lifestyle, not just high-end cars.”
Lexus isn’t the first car company to take to the waters. Mercedes-Benz offers limited-edition branded yachts and BMW has been playing in yachts since 2011. But Bloomberg says Lexus will be the first one committed to mass production. Toyota has been active in the boat business since 1990 when it established its Toyota Marine division to build, sell and service yachts.
Lexus’ luxury lifestyle-brand aspirations
On the land, as on the seas, Lexus must battle two formidable competitors. Wealth Engine reports that Mercedes-Benz E Class and BMW 3 series outrank Lexus RX350 as the most popular car models among the wealthy. And US News and World Report ranks Lexus #6 in best luxury car brands, behind #5 Mercedes, #4 BWM, #3 Audi, #2 Genesis (Hyundai’s luxe brand) and #1 Porsche.
US News and World Report’s assessment of how Lexus stacks up with its competitive peers suggests why Lexus’ needs to elevate its brand of luxury. It credits Lexus as the more practical, dependable and reliable choice in luxury cars. That’s good for the “millionaires next door,” but not the kind of image that a luxury car should evoke. Who dreams of a practical luxury car? Buy a Toyota instead.
Lexus has been falling off the wish list of American affluent car buyers since 2010, when Bloomberg reports, “It ended its 11-year run as the US’s top-selling luxury car brand, being overtaken by BWM and Mercedes-Benz.” In 2017 sales of Lexus sedans are also reported to have declined by 25% and the company sold 10% fewer cars than Mercedes.
After much soul searching, Lexus abandoned its tagline “Pursuit of Perfection” last year in favor of a new one “Experience Amazing,” which is intended to shift the focus from the car itself toward the lifestyle experience that owning and driving a Lexus will help its owners realize.
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