Luxury cruise retailer Panache Cruises has made a six-figure investment in Vedere Travel as it expands beyond the cruise sector.
Chester-based Vedere Travel was founded in 2023 by Alex Catton and specialises in luxury sports and experience travel.
The company has an established multi-million pound turnover and will use the investment and partnership with Panache to accelerate its growth further.
James Cole, founder and CEO of Chorley-headquartered Panache Cruises, said the deal was part of a wider strategy to expand into other areas of the travel industry.
Panache Cruises will now sit within the wider Panache Travel Group, with Cole confirming that the group is looking at further investment opportunities.
Cole, who was included in BusinessCloud’s Founder 250 list, said: “There’s always been a masterplan to reach out to find and work with like-minded businesses and founders who want to grow their business.
“We think there’s an opportunity to expand what we do beyond the cruise industry into other areas of travel.
“There’s a good fit between our two businesses. Vedere has similar customer demographics to us but operate in a different element of the travel industry.
“Alex Catton is a prime example of a founder who has exceptional knowledge and talent but needs some support in scaling it to the next level.
“We can really help Alex grow his business. We can work together on projects that include cruises and sporting events. We can cross promote what we do.
“We want to provide the opportunity for Alex to plug Vedere into Panache Travel Group’s infrastructure and tap into our experience of scaling.”
Founded in 2020, Panache Cruises has grown turnover to £60m and has offices in the UK, US and Australia.
Catton previously worked at ITC Travel Group before launching Vedere Travel less than three years ago.
He said: “We sell high end luxury experiences at sporting events around the world.
“Formula 1 equates to around 40 per cent of our overall business. We have official relationships with seven of the Formula 1 teams which means we can get you into that team garage to meet the drivers, mechanics and team principal pre-race and over the weekend.
“We also have direct access to a number of different sports including football, golf, tennis, rugby and cricket
“We are a premium tour operator. We cover all of the flights, hotels, transfers and tickets. That’s our niche.
“The key element for us is we have direct access to all of our tickets. We don’t use middlemen or third parties. We’re not trawling Viagogo or Ticketmaster.
“All our tickets come directly from the source. You’re guaranteed to get your tickets.”
Catton said the link-up would allow him to continue running Vedere while tapping into Panache’s experience of scaling a business.
More than a lifestyle brand
He added: “I didn’t want Vedere to become a lifestyle brand. I could have had a nice life with a small travel company but that’s not what I wanted to do.
“I’ve known James since 2019 but I hadn’t appreciated how fast Panache had scaled, going from nothing to £60m in six years. That’s what I want for Vedere.
“I’m already getting those advantages that come with working with Panache. We want to mirror their growth. Hopefully in five years’ time we will have significantly scaled Vedere Travel.”
Alongside the investment, Vedere has relaunched its website and made a number of hires to support its next phase of growth as it positions the business as a single point of contact for major sporting occasions.