Thomas Cook gets brand right for India, Sri Lanka
Chennai: Travel service provider Thomas Cook India (TCIL) will be acquiring rights to use the iconic brand in India as well as Sri Lanka and Mauritius for a one-time payment of Rs 13.9 crore.
TCIL has signed an agreement with AlixPartners, Thomas Cook UK’s appointed Special Managers in this regard. TCIL has been in talks with the liquidator of its UK namesake as it has the right to use the brand in India only till 2024. Now on, TCIL can use rights in perpetuity on a royalty-free basis. TCIL was previously paying an annual brand licence fee of Rs 2 crore to TCUK, the company informed the stock exchanges.
