Thomas Cook India acquires branding rights
Thomas Cook (India) will continue using its historic brand name.
During the well-documented financial problems and demise of the Thomas Cook European businesses, Thomas Cook (India) had seriously considered ditching the name due to the negative publicity.
Thomas Cook (India) has confirmed a deal to buy out its brand name from Thomas Cook UK’s administrators for £1.5 million.
Before the UK firm folded, TCI had a licensing agreement to use the Thomas Cook name until 2024.
It has now sealed a permanent deal to use the name royalty-free in India, Sri Lanka and Mauritius
The Thomas Cook name elsewhere around the world is now under the ownership of Chinese group Fosun.
"I am delighted that we have been able to sign an agreement to acquire the rights to the iconic Thomas Cook brand across India, Mauritius & Sri Lanka. The brand is one of the most respected names in the travel services space and one that we at Thomas Cook India have operated uninterrupted for 138 years since 1881," said Madhavan Menon, chairman and managing director of TCI.
Since Thomas Cook (India) was bought by Fairfax Financial Holdings of Canada in 2012 it had a licensing agreement to use the Thomas Cook name and under the terms had first refusal to continue using it if the UK business went bust before 2024.
Although there was some confusion with customers over whether or not the India business was in financial trouble as well, it has strong brand equity in South Asia, and is debt free.
Thomas Cook India Group owns several other B2C and B2B travel brands, including SOTC, Asian Trails, and Australian Tours Management.
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