Panache Cruises invests £500k to support UK and US expansion plans
Panache Cruises is investing £500,000 to support its recruitment and expansion plans as it aims to grow its turnover by 50% next year.
In the next two years, the Chorley-based luxury cruise retailer plans to become a £100 million business and aims to become the world’s largest seller of luxury and ultra-luxury cruises by 2030.
The £500,000 investment will be spent on additional office space at Strawberry Fields Digital Hub in Lancashire and a larger premises in the US.
Panache opened an office in Orlando, Florida, in June during what has been a record-breaking 12 months for the company.
Panache currently employs 58 staff in the UK and another eight in the US, but plans to increase this to 73 and 16 respectively by the end of 2025.
It has attracted more than 6,000 customers since its 2020 launch. And last month, Panache recorded sales of more than £3 million – its biggest-ever trading month.
Panache Cruises founder James Cole said: “We’re aiming to hit turnover of £35m to £40m in 2025 and this £500k investment will help us accelerate our growth further.
“We’re committed to growth, but we’ll do it the right way by putting our colleagues first."
He added: “We’re very fortunate to have great partnerships with cruise lines, who buy into our ways of working including supplying them with a lot of customers who are new to their brands.”
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Place of registration: England and Wales.
Company number 08723341.
Registered address: 6th Floor, 2 London Wall Place, London EC2Y 5AU
