Hermes steps ashore

Hermes, the French-based maker of very expensive luxury goods, has backed away from the WHY project it started with Wally Yachts last year, citing lack of technical knowledge to make the spot decisions necessary.

The WHY (Wally Hermes Yacht) project was to produce the ultimate in sailing luxury -- no so much a boat as a floating island that you could take anywhere you wanted.

The proposed vessel is wedge-shaped and measures a remarkable 58 by 38 metres (188 x 123 feet), with the widest point being right at the stern where owners can enjoy their own exclusive waterfront playground.

Hermes announced last week that it had decided to leave the project and that it had sold its share to Wally Yachts. Hermes CEO Patrick Thomas says the technical complexity and the need for 'on the spot' decisions were beyond the abilities of his company.

Despite selling to Wally, Hermes will get a cut of the sale prices of all megayachts produced by the project over the next 10 years.

So far no actual boat has been produced by the WHY group but it has manufactured a full-sized mock-up so potential buyers can see what they will get for their money. Production is set to commence as soon as the first contract is signed.

Rumours from the European boat building community suggest that work on the first two hulls will start during this northern summer.

Check out WHY Yachts for more information.