Dave Christensen and Joe Foggia
Christensen Yachts
The Vancouver-based Christensen Yachts, founded by Dave Christensen, has developed over the past 25 years into a world-class luxury yacht building enterprise. At the forefront of this development is the company president, Joe Foggia, who is also the stepson of Dave Christensen. The two are working together to accomplish what many family-owned businesses struggle to do: expand while transitioning from one generation to the next. At age 77, Christensen has become more of an advisor to the 39-year-old Foggia, who has been shaping the way Christensen Yachts has grown since 2001. Both Foggia and Christensen see the business evolving into a larger enterprise, with the capacity to cater to buyers who want bigger, more specialized, and even more expensive luxury yachts.
HAUTE LIVING What attracted you to the yachting industry?
JOE FOGGIA I grew up in this industry and have loved boats all my life.
HL What were your company’s yearly sales for 2007? Forecast for 2008?
JF I’ll say that we’re on par to surpass our financial goals for 2008.
HL What are your tactics for staying at the top of the industry?
Dave Christensen One tactic is that we have become a model for superior consistency in shipbuilding. We also utilize and rely upon sound management, an intelligent marketing program, agile business processes, and making constant improvements in our customer relationships. Making use of these assets lets us deliver the yachts on time, with consistent, top-quality work.
HL Which is your favorite yacht on the water today? Why?
JF Any yacht that has happy owners.
HL What was the most outrageous/over-the-top request you received from a client?
JF In 1995, we were asked to put an elevator in a yacht. They are now standard.
HL What are some of the current trends you are seeing in the yachting industry?
DC It is a fact that worldwide demand for bigger and bigger boats is increasing. The traditional yacht builders of the world are finding it difficult to keep up with the demand. Orders for superyachts over 130 feet have increased substantially over the last few years. Another reason is that the U.S. economy and exchange rate of the dollar vs. the euro also makes American shipbuilders more attractive to European tycoons. This is great news for those of us in the luxury yacht building industry.
HL What is one piece of advice you always give to your clients?
JF Do not make a crossing; meet the boat at its destination.
HL Tell us one thing most people wouldn’t know about you.
JF What you see is what you get.
HL You’ll never be found without your…
JF iPhone or BlackBerry.
HL Where can we find you on a Friday night?
JF If not traveling, then I will be at home watching movies and Fox News.
HL What are your favorite vacation destinations and/or leisure activities?
JF For vacation, Santorini, Greece. I enjoy boating, Sea-Dooing, and ATVing.
HL What features of a yacht do you feel are necessary luxuries?
JF A hot tub, a bar, and fun people to be around.
HL What is your favorite name for a yacht?
JF Happy Customer!
HL What is the “next big thing” we can expect to see from your company?
DC We’re about to open our second manufacturing shipyard, a 450,000-square-foot plant in Tennessee, this January. The new shipyard on Tellico Lake is about 30 miles south of Knoxville and will produce yachts up to 230 feet long. Right now we have an order for two 225-foot yachts from the same buyer. The company will start to assemble the first hulls in January at the Tennessee plant and will employ 160 people producing about one yacht in the 200-foot range every eight months, but within five years employment is expected to rise to nearly 600.
