Harding+ reports strong FY2024 performance as innovation initiatives gather pace

Harding+, the world’s only 100% specialist cruise retailer, has reported solid growth in FY2024 with reported revenues of £305m (USD$410) up 3.1% year-on-year, supported by deeper brand partnerships, enhanced data capabilities and a focus on operational efficiency.

The company delivered its positive results during a period when UK retail sales in general grew by just 1.4% (ONS), underlining the resilience and opportunity of cruise retail as a sector. Performance was supported by new contract wins, more direct-to-brand relationships replacing wholesale, and closer alignment with cruise line partners on guest experience strategies.

CEO Chris Matthews explains, “Our goal has been to simplify the retail model and build stronger, more direct connections between guests, brands and cruise line partners, all as part of our customer transformation strategy. That means better stock management, sharper range curation and more value offered across the chain. The results this year that show a return to profitability for the business alongside the growth, reflect that focus, and the openness of our cruise line relationships have been key to those improvements too.”

In 2024, the company delivered six million guest transactions across 300 shops on 86 ships, with 92% of Harding+ guests indicating they plan shopping time into their cruise.

“This level of intent makes cruise one of the most engaged retail environments anywhere in the world and as part of that we saw particular growth this year across Costume Jewelry (+11%), Fine Jewelry (+9%), Tobacco (9%) and Watches (+4%)," adds Matthews. "It was also the year we launched boundary-pushing retail concepts on two of the largest ship debuts of 2024 in Queen Anne and Sun Princess, showcasing how bespoke design and brand theatre educated and informed by best in class guest data analysis can enhance the guest journey.”

Harding+ notes data-driven personalization continues to play a leading role in its innovation, with AI and automation now embedded into both logistics and marketing to impact business improvement and service level potential at every stage of operations.

Sustainability remained a focus, and AI-led logistics planning helped reduce CO₂ emissions by 65% year-on-year through fewer emergency freight movements and reduced wastage.  

Looking ahead, Harding+ has already signalled further investment initiatives in guest insight and digital engagement, as part of the mission to the make the complex simple and show continued leading-edge commitment to cruise partners.

Matthews concludes, “Our ambition will always be to deliver retail that is customer-centric in its thinking, while helping our cruise line partners differentiate their onboard experience to match the wants, needs and expectations of the ever more sophisticated cruise guest.”