Luxury cruise retailer Panache Cruises is accelerating its international growth after securing a £2.75m refinance package with HSBC UK. The funding will support the opening of new offices in Canada and Australia in the first half of 2026, alongside strengthening its head office team in Chorley, Lancashire.
Founder and chief executive James Cole said: “Although we’ve been approached by a lot of private equity houses, investors and banks over the last three years, we just clicked with HSBC UK right away. We were immediately impressed by the way they understood Panache Cruises and their willingness to work in partnership with us. It was more than just a transaction. They wanted to find ways of how they could benefit us and establish a long-term relationship.”
Cole added: “The £2.75m provides enough cash padding to take us through the next few years. The money will be used for growth and investment. There are always bumps in the road when you scale a new business and this refinance deal will allow us to smooth those bumps out.”
Panache Cruises, founded in 2020, has grown turnover by 64% to £41m over the past 12 months and is on track to exceed £50m in revenue by the end of its financial year in May 2026. Cole outlined the company’s long-term ambition: “Our ‘Mission 2030’ goal is to become the world’s largest seller of luxury and ultra-luxury cruises by the financial year 2030 and the only way to do that is to expand internationally. Expanding internationally has been part of our plan from day one. We opened an office in the US in 2024 and will be expanding next into Canada and Australia in H1 2026 as they’re both growing players in the cruise line industry.”
Aaron Bevis, global relationship director at HSBC UK, said: “We’re proud to support Panache Cruises as it expands its operations into new international territories. Operating in a highly competitive industry, they have demonstrated a clear vision for long-term growth. We look forward to seeing their ongoing success.”
