Mumbai , Dec 3: Thomas Cook (India) Ltd., India’s leading integrated travel and travel related financial services company, on Tuesday announced it has signed an agreement with AlixPartners, Thomas Cook UK’s appointed Special Managers, to acquire the rights to the Thomas Cook brand in India, Sri Lanka and Mauritius for a one-time payment of GBP 1.5 Million (approximately Rs. 139 Million). TCIL was previously contracted to pay an annual brand licence fee of Rs 20 Million to TCUK until 2024 for usage of the brand.
Thomas Cook (India) Limited has operated the Thomas Cook brand name uninterrupted in India since 1881. In 2012 when TCIL was acquired by Fairfax Financial Holdings of Canada, TCIL had entered into a Brand Licence Agreement with Thomas Cook Group UK for exclusive use of the brand name until 2024 across India, Sri Lanka and Mauritius. The brand license agreement also gave TCIL the right of first refusal to acquire the brand in the event of the Thomas Cook UK Group going into liquidation before 2024.
TCIL’s acquisition of the exclusive ownership of the Thomas Cook brand in these markets means that TCIL can now use the iconic travel services brand name that they have operated for 138 years in India that enjoys high recall and strong brand equity. The agreement also ensures brand use rights in perpetuity and means that TCIL can use the brand in perpetuity on a royalty-free basis
This move by TCIL also prevents possible new entrants into these markets, using the brand name In addition to Thomas Cook, the Thomas Cook India Group operates leading B2C and B2B travel brands including SOTC, TCI, SITA, Asian Trails, Allied T Pro (ATP), Australian Tours Management (ATM), Desert Adventures, Luxe Asia, Kuoni Hong Kong, TC Travel, Private Safaris East & South Africa, Sterling Holidays and Digiphoto Entertainment Imaging (DEI), with strategic investments in Ithaka by Travel Junkie Solutions.
