Our Business
Princess Yachts is a luxury yacht manufacturer based in Plymouth, England. We have over 3,000 employees and sell to 43 authorised distributors worldwide.
We are committed to continuously improving our practices and policies as we recognise their impact upon our employees, customers and suppliers as well as the wider community.
Our Distributor Network
Having developed fantastic relationships with successful distributors globally, we are keen to understand their operations and approach to issues including Modern Slavery and Human Trafficking and to encourage a uniformed and consistent approach across all areas of the business. We recognize the challenges of working across many legal jurisdictions and practices and are dedicated to improving our transparency and communications channels.
Our Supply Chains
We have developed our broad network of suppliers within the UK and Europe over a span of over 50 years. We maintain a preferred supplier list and conduct due diligence on all suppliers before approving them as a preferred supplier. As part of our agreements with all of our suppliers, they are required to confirm that all parts of their operations meet the standards of our policy or adhere to their own policy which is of a similar standard.
We recognise the importance of us taking a more proactive role in making our supply chain more transparent, including attending facilities and having more regular contact with our key contacts within the suppliers.
In 2020 we have made progress to produce a Supplier Code of Conduct to ensure all those within our supply chain and contractors comply with our values and ethics. This will be rolled out during 2021
Our Policies on Slavery and Human Trafficking
We are committed to ensuring that there is no modern slavery or human trafficking in our supply chains or in any part of our business. Our Anti-slavery Policy reflects our commitment to acting ethically and with integrity in all our business relationships and to implementing and enforcing effective systems and controls to ensure slavery and human trafficking is not taking place anywhere in our supply chains.
Our Anti-Slavery, Modern Slavery and Human Trafficking Policy sets out our zero-tolerance stance on modern slavery and human trafficking and provides guidance to our employees on identifying and reporting instances.
Our Whistleblowing Policy provides information and encouragement to our employees so that concerns can be raised about how colleagues are being treated, or practices within our business or supply chain, without fear of reprisals.