Harding+ I
Harding+ and a tale of transformation in cruise retail
Harding+ CEO Chris Matthews and CFO Simon Luscombe assess the next steps in the cruise retailer’s transformation drive. By Dermot Davitt
As Chris Matthews reflects on a whirlwind two years since he became CEO of cruise retail specialist Harding+, the word ‘transformation’ peppers his conversation with us.
And with good reason. From sales of around £170 million the business almost doubled to £305 million in its 2024 financial year, with a return to ‘single-digit millions’ in profit a notable stand-out feature.
The full-year performance was supported by new contract wins, more direct-to-brand relationships replacing wholesale arrangements and what Harding+ terms “closer alignment with cruise line partners on guest experience strategies”.
Drilling down further, and the new-look Harding+ operation – and the results that followed – is the outcome of an 18-month programme that examined, reimagined and ultimately upgraded almost every aspect of the business.
Matthews says: “We are the only dedicated retail specialist at sea. It is all we do. And if you look at the customer dynamic at sea versus airports or elsewhere on land it is fundamentally different from a guest point.
“So our task was to redesign all of our systems and processes so we can get these right every single day for every single guest, whatever their itinerary is. We took the decision that we needed a really fearless guest transformation programme.
“We have been trying to become much more efficient, with many cost adjustments along with better sales and better margins, but always done in a guest-focused way.
“We introduced artificial intelligence into planning and forecasting, and we looked at logistics and supply chains so we can get goods to guests quicker than ever. We reduced sea pallet miles by 5 million last year, a huge number. One of the benefits of those system changes is that our availability is consistently above 90% on every single ship today.
“Wherever you are in the world, the guest experience has to be the same. We want to make the complexity of this sector a competitive advantage for Harding+. We believe we have done that with the investment in transformation we have made over the last two years. And with that return to profitability we can invest further now.”
Harding+ CEO Chris Matthews
Harding+ CFO Simon Luscombe
With the infrastructure and ‘hardware’ elements now in place, the focus turns to improving the day-to-day guest experience onboard the ships, in partnership with cruise lines and with brand owners.
Matthews says: “We have made big investments in processes and in people. But the ultimate goal has to be how this all translates onboard the ships. That is where our focus is now and will be for the next couple of years, which is constantly about trialling and testing, based on our understanding of the guest.
“And changing the onboard ship environment with that in mind is really exciting.
“On average, a guest visits our shops 3.3 times a week during a one-week trip, and the dwell time is 45 minutes to an hour. There is no other retail environment that I’m aware of anywhere that has such dwell time for potential guests. The opportunity for brands to immersively engage with guests like this is unique to cruise. And we have a responsibility to deliver on that opportunity in what we do with our activations.”
CFO Simon Luscombe highlights the power of partner promotions to drive spends and transaction values.
“Onboard ship, you have the chance to effectively test the same activity and the impact of your investment as a brand in a controlled environment. Week after week the ship does the same itinerary, and so you can really prove to a brand what returns look like.”
He cites Aperol tastings over the summer that saw brand sales increase +222%, Sun Bum pop-ups increased sales +340% and playful new store concepts such as Palm Pals saw sales triple. Harding+ said it is now dedicating one quarter of all onboard retail space for immersive experiences.
As reported, Harding+ unveiled an immersive retail experience onboard Queen Anne last year. The Moodie Davitt Report attended the ship’s launch while it was moored at the Mayflower Cruise Terminal in Southampton, England.
“Onboard ship, you have the chance to effectively test the same activity and the impact of your investment as a brand in a controlled environment”
CFO Simon Luscombe
Luscombe adds: “With Palm Pals plush toys, where we decked out a small shop onboard a P&O ship, they forecast some ambitious numbers and we did three times over the plan. There are many ways to approach this channel, from traditional campaigns to shop takeovers, each of which can lead to big responses from guests.”
Matthews notes that while most of the hundreds of annual activations are planned months in advance, because of its recent systems investment, Harding+ can now react faster to trends.
“If we see something new, we can have it in the shops within weeks due to our speed to market. The message for new brands is that we are up for great ideas. And the brands that we work best with are the ones that get that cruise difference.
“If you look at the opportunity, CAGR growth in cruise passenger traffic is +7-9% a year, making this undoubtedly the fastest-growing long-term segment within travel. And the brands that wake up to that, and there are thankfully many of those, will see the benefits. But they have also got to understand that customers want experience, fun and personalisation, plus exclusives for a point of difference to land-based shops.”
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The Moodie Davitt eZine
Issue 348 | 10 November 2025
The Moodie Davitt eZine is published 6 times per year by The Moodie Davitt Report (MA Travel Retail). © All material is copyright and cannot be reproduced without the permission of the Publisher. To find out more visit www.moodiedavittreport.com and to subscribe, please email kristyn@moodiedavittreport.com