Luxury cruise retailer Panache Cruises has announced plans to expand into Canada and Australia after agreeing a £2.75m refinance package

The company intends to open up the new offices in the first half of 2026 as well as strengthen its head office team in Chorley, Lancashire. Founder and chief executive James Cole said: “We’re absolutely delighted to have agreed the £2.75m refinance deal with HSBC UK.

“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 way. 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. The £2.75m provides enough cash padding to take us through the next few years.”

Panache Cruises has grown turnover by 64 per cent to £41m in the last 12 months and is on track to top £50m in revenue by the end of their financial year in May 2026. Cole, who founded Panache Cruises in 2020, added: “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.

“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.”

The company opened its first international office in 2024 when it expanded into the US with a team of 10. Cole expects to initially have similar numbers dedicated to Canada and Australia.