Thomas Cook (India) is evaluating whether to continue operating under the same, Thomas Cook, brand, in the wake of collapse of Thomas Cook UK, or adopt a new one instead.
One of the options available is to buy out the brand, senior vice president (Holidays) of Thomas Cook (India) Romil Pant said, adding the company’s Board and Chairman will take a decision at the right time.
Thomas Cook India became a Fairfax company in 2012 and uses the brand by paying a royalty to Thomas Cook UK. “We have this brand till 2025… most likely the decision will be taken before that,” he told media in Hyderabad on Thursday.
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Close on the heels of the collapse of Thomas Cook UK, the Indian entity had said the UK firm had transferred its entire stake to Fairfax and ceased to be its promoter from August 2012. “Since then, Thomas Cook UK has had no financial or business stake in Thomas Cook (India),” the Indian entity had said last month.
On whether there were moves by Thomas Cook (India) to purchase the brand, he wondered “Who do we talk to?. As far as Thomas Cook UK is concerned, it is under liquidation. So we will have to talk to the liquidator, but I think their priorities right now are very different after whatever has happened.”
Buying the brand, however, is an “attractive decision… because the brand has served its value for years. Everybody recognises us [by that]. It is a tempting choice, but what the choice will be ultimately I will not be in a position to comment on,” he said.
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Mr. Pant, who was responding to queries, said till about 45 days ago it was one of the strongest brand names in travel trade. The Indian entity was “looking very closely” at all the options, he said while seeking to highlight how a brand change was not an easy thing to do.
Unveiling the ‘Summer 2020’ packages, he said the company will be expanding its footprint in by adding one more office in Hyderabad and another in Warangal. It now had 14 offices in Telangana and Andhra Pradesh.
On queries, he said in 2018 it catered to 1.25 lakh people from India who travelled abroad and 75,000 domestic travellers. The company expected to grow 15-18% in 2019 as against the 20% it registered last year.