A new skipper at the helm

Chinese owners steer yachting firms into new waters as industry grows

Working with Chinese colleagues after one company has bought another is a valuable experience for both sides even if there are noticeable differences between the two, says Lamberto Tacoli.

"Our Chinese partners are very smart," says the chairman and CEO of the Italian luxury yacht maker CRN SpA. They are "very respectful, very hard workers" who realize that what the company sells its customers is extreme luxury that you cannot afford unless you are a multibillionaire, he says.