LuxMedia Group SAS, publisher of Yachts France, today issued a press release saying that it has taken the decision to stop the publication of the magazine with immediate effect.

"The French yachting market saw its activity dive after the 2008 crisis and French yacht sales fell by over 70% to stabilise in late 2012/early 2013,” says the company in the statement.

In early 2009, LuxMedia embarked on a restructuring plan that allowed it to continue, despite plunging advertising revenue and an important number of advertisers closing doors.

Unfortunately, the economic situation in Europe and the impact of sanctions against Russia following the Ukraine crisis took a serious toll on the rouble, resulting, for the French nautical sector, in the immediate disappearance of Russian clientele, the only one supporting the market.

“This new fall in advertising revenue at LuxMedia Group and the French edition of Yachts magazine doesn't give us any other choice than to stop the publication," says the statement.

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