What exactly is a multibillionaire to do when a megayacht isn't, well, mega enough? Buy an island, proposes the newly formed Wally-Hermès Yachts - or at least a vessel that doubles as an island.

French company Hermes - best known for its designer bags and clothing - has teamed with Monaco-based Wally Yachts to form the new company, dedicated to "dedicated to a new lifestyle of living on the sea," according to press reports.

Their offering, WHY, is basically triangular shape, 190 feet by 124 feet with no superstructure. A 656-foot master suite covers the entire third floor, while five guest suites occupy the second floor. The interior is fitted out with water-resistant buffalo leather. The stern doubles as a 98-foot "beach."

A pool on the bow hugs the contours of the helipad.

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