Thomas Cook (India) Ltd (TCIL), 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.

In mid-September the 178-year-old British tour operator Thomas Cook collapsed stranding hundreds of travellers but TCIL, which operated independently, was unaffected.

TCIL has operated the Thomas Cook brand name uninterrupted in India since 1881, the company said in a media release.

TCIL's acquisition of the exclusive ownership of the Thomas Cook brand in these markets means:

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 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 TCIL 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 and South Africa, Sterling Holidays and Digiphoto Entertainment Imaging (DEI), with strategic investments in Ithaka by Travel Junkie Solutions.

Today, the Thomas Cook India Group, is one of the largest travel service provider networks headquartered in the Asia-Pacific region - spanning 29 countries and 5 continents.

Madhavan Menon, Chairman and Managing Director, Thomas Cook (India) Ltd, said, '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 and 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'.

© Pakistan Press International, source Asianet-Pakistan