Brazil’s significance as a country on the radar of the luxury industry continues to rise, as the Prime Fraction Club, the emerging nation’s first luxury-goods sharing club acquired its fourth Embraer Phenom 300 business jet this month.
The high-flying deluxe eight-seat aircraft was purchased for $11.03 million by three members of the Prime Fraction Club. Each of those members put up $3.67 million to own a one-third interest in it. BRF, a Brazilian conglomerate in the food products industry, is among the shareholders.
According to Marcus Matta, president of the Prime Fraction Club, demand for the superior aircraft is taking off, as the upscale asset-sharing club plans to buy two more private jets from Embraer in 2015.
“The arrival of the Phenom 300 is an important moment for [Prime Fraction and Embraer],” said Mr. Matta. He also conveyed that the arrival of the new aircraft is a demonstration of the growth of the ownership model of the club in Brazil. Premium planes, helicopters, boats, and sports cars are owned and shared by the Prime Fraction Club, which began in 2010.
Airplane manufacturer Embraer is equally excited about its most recent sale to PFC, as it marks the 500th Phenom 300 delivered since rolling it out a little more than five years ago.