Thomas Cook India Explained
Thomas Cook (India) Ltd. is an Indian travel agency, headquartered in Mumbai, India, providing travel services including Foreign Exchange, International and Domestic Holidays, Visas, Passports, Travel Insurance and MICE. Founded in 1881 by Thomas Cook, the founder of the now defunct British brand Thomas Cook & Son, who established its first office in India and eventually extended to over 233 locations, in 94 cities across India, Sri Lanka and Mauritius.[4] Thomas Cook India is a subsidiary of Fairfax Financial Holdings Limited, through its wholly owned subsidiary, Fairbridge Capital (Mauritius) Limited, and its controlled affiliates which holds 67.63% of the company.[5]
History
Thomas Cook had many ventures including the invention of the world's package tour in 1841, the first pre-paid hotel coupon in 1868, creation of the first holiday brochure in 1858, and conceptualization of the first Travellers Cheques in 1874.[6]
In 1881, Thomas Cook started its India operations in Bombay (later renamed Mumbai), and in October 1978, saw it christened Thomas Cook (India) Ltd. The company made its first public issue in February 1983, and commenced operations in Mauritius in 2000. In the same year, they acquired the Sri Lanka business from Thomas Cook Overseas Ltd, UK.[7]
In 2006, Thomas Cook India Limited acquired LKP Forex Limited and Travel Corporation (India) Pvt. Ltd. (TCI).
In May 2012, Fairbridge Capital (Mauritius) Limited acquired Thomas Cook India, and became a part of Fairfax Group, Canada.[8]
In 2013, Thomas Cook India Limited acquired Quess Corp (formerly known as Ikya Group - HR, IT Services, Facilities Management, Food Services, Skill Development),[9] and Sterling Holiday Resorts.[10]
In 2015, Thomas Cook Lanka Pvt. Ltd. (a subsidiary of Thomas Cook India Limited) acquired Luxe Asia Pvt. Ltd., Sri Lanka,[11] a regional Destination Management Company handling inbound tourists from globally generating markets to its destinations. In the same year, TCIL announced the acquisition of Kuoni Travel (India) Private Limited, a travel operator in India, and Kuoni Travel (China) Limited, a travel operator in Hong Kong.[12]
In September 2017, Thomas Cook acquired Tata Capital's forex and travel business.[13] In the aftermath of the collapse of Thomas Cook in the UK, the Indian namesake was considering rebranding itself to avoid the negative perception caused by the collapse of the UK travel company.[14]
| Number | Year | Description | Ref(s) |
|---|
| 1 | 2019 | The collapse of Thomas Cook India's former parent Thomas Cook Group causes major confusion to Indian customers, who were assumed that Thomas Cook India had also entered liquidation proceedings (by the United Kingdom Government) | |
| 2 | 2019 | Thomas Cook India Ltd Opens New Outlet In Punjab | [15] |
| 3 | 2016 | Thomas Cook taps into India's m-commerce growth opportunity launches India's first end-to-end Holiday-App | [16] |
| 4 | 2016 | Thomas Cook India targets Tier III growth markets via small tech assisted outlets | [17] |
| 5 | 2015 | Thomas Cook India Acquired Sri Lanka Based Luxe Asia | [18] |
| 6 | 2015 | Announced Closure of Kuoni Travel India Private Limited Company | [19] |
| 7 | 2015 | Acquisition of Kuoni Group's Travel Business in India | [20] |
| 8 | 2015 | Launched Thomas Cook One Currency Card | [21] |
| 9 | 2015 | Launched Thomas Cook Forex Mobile App | [22] |
| 10 | 2013 | Acquisition of Stake in Quess Corp | [23] |
| 11 | 2012 | Acquisition of 76.81% Stake by Fairbridge in Thomas Cook (India) Limited from Thomas Cook UK and TCIM and subsequent announcement of open offer | [24] |
| 12 | 2012 | Incorporation of Thomas Cook Lanka (Private) Limited, a 100% Subsidiary of the Company | [25] |
| 13 | 2012 | Launch of Borderless Prepaid Multicurrency Forex Card | [26] |
| 14 | 2011 | Signed an agreement for marketing and distribution of borderless prepaid multicurrency foreign exchange card | [27] |
| 15 | 2011 | Incorporation of TC Visa Services(India) Limited in Maharashtra, a wholly owned Subsidiary of Travel Corporation (India) Limited, which is a 100% Subsidiary of the Company | [28] |
| 16 | 2010 | Execution of a Seven Year Arrangement with New Delhi International Airport | [29] |
| 17 | 2010 | Launch of 9 Foreign Exchange and Travel Counters | [30] |
| 18 | 2009 | Issue of 50,650,699 Shares through a Rights Issue by Thomas Cook (India) Limited | [31] |
| 19 | 2008 | Acquisition of 74.9% Stake by Thomas Cook UK and TCIM in Thomas Cook (India) Limited | [32] |
| 20 | 2007 | Thomas Cook India Limited & LKP Forex Merger | [33] |
| 21 | 2006 | 100% acquisition of Travel Corporation (India) Limited by Thomas Cook (India) Limited | [34] |
| 22 | 2005 | 100% Acquisition by Dubai Financial (LLC) of TCIM | [35] |
| 23 | 2000 | Commencement of Operations in Sri Lanka | [36] |
| 25 | 1983 | Listing of Thomas Cook India Limited on BSE Pursuant | [37] |
| 26 | 1978 | Conversion of the branch office into a private limited company | [38] |
| 27 | 1881 | Thomas Cook & Son opens its first branch office in Bombay | |
|
Rebrand 2022
At the end of 2022, Thomas Cook India rebranded the business with a new logo, replacing the 2001 – 2013 British logo.
Notes and References
- http://www.nseindia.com/live_market/dynaContent/live_watch/get_quote/GetQuote.jsp?symbol=THOMASCOOK&illiquid=0 NSE "NSE of India - Thomas Cook India"
- http://www.bseindia.com/stock-share-price/thomas-cook-(india)-ltd/thomas-cook/500413/ BSE "BSE of India - Thomas Cook India"
- Web site: Why Thomas Cook (India) is not affected by Thomas Cook's collapse . Hindu Business Line . 24 September 2019 . en.
- http://vedding.in/business/transportation/thomas-cook-travel-agency-in-/5636fa0a711fa "Thomas Cook Travel Agency Locations"
- Web site: Thomas Cook India About Us . Thomas Cook India . 9 September 2019.
- http://www.pravdareport.com/society/stories/03-01-2013/123373-thomas_cook-0/ "Thomas Cook - The Founder of Mass Tourism"
- http://www.business-standard.com/company/thomas-cook-i-564/information/company-history "Thomas Cook History"
- http://www.thehindu.com/business/Industry/thomas-cook-india-grows-through-acquisitions/article7519154.ece "Thomas Cook India Grows through Acquisitions"
- http://timesofindia.indiatimes.com/business/india-business/Thomas-Cook-India-arm-Quess-Corp-to-acquire-49-stake-in-TSQ/articleshow/47500990.cms "Thomas Cook India Arm Quess Corp to Acquire 49% Stake"
- http://www.business-standard.com/article/companies/bombay-hc-approves-thomas-cook-india-sterling-holiday-merger-115071400243_1.html "Mumbai HC Approves TCIL and Sterling Holiday Resorts Merger"
- http://www.moneycontrol.com/news/business/thomas-cook-india-acquires-sri-lanka-based-luxe-asia_2246641.html "Thomas Cook India Acquires Luxe Asia"
- http://www.business-standard.com/article/companies/thomas-cook-buys-kuoni-india-for-rs-535-crore-115080701548_1.html "Thomas Cook Acquires Kuoni India"
- News: With Tata Capital's travel, forex biz in the kitty, Thomas Cook eyes $100 m in extra volumes. @businessline. 2018-05-14. en.
- News: Thomas Cook collapse: To avoid links with UK namesake, Indian unit may change its name. India Today. en. 2019-09-25. Ist.
- https://www.equitybulls.com/admin/news2006/news_det.asp?id=256152 "Thomas Cook India Ltd Opens new outlet at Ranjit Avenue in Amritsar"
- https://www.valueresearchonline.com/story/h2_storyView.asp?str=6ECDED7A-8E76-49F4-85A6-C25FC0EDD746&Code=4094&src=NewsAnnounce Thomas Cook taps into India's m-commerce growth opportunity Launches India?s first end-to-end Holiday-App "End to End Holiday App"
- http://www.thehindubusinessline.com/companies/announcements/others/thomas-cook-india-targets-tier-iii-growth-markets-via-small-tech-assisted-outlets/article8106772.ece "Small Tech Assisted Outlets"
- http://www.moneycontrol.com/news/business/thomas-cook-india-acquires-sri-lanka-based-luxe-asia_2246641.html "Thomas Cook India Acquires Luxe Asia"
- http://www.thehindubusinessline.com/companies/announcements/others/thomas-cook-india-group-announces-successful-closure-of-acquisition-of-kuoni-travel-india-private-limited/article7999316.ece "Thomas Cook India Announces Closure of Kuoni Travel India Pvt Ltd"
- http://economictimes.indiatimes.com/magazines/travel/thomas-cook-india-acquires-kuoni-groups-travel-in-india-hong-kong-for-rs-535-crore/articleshow/48392760.cms Acquisition of Kuoni Group's travel business in India, Hong Kong by Thomas Cook (India) Limited "Thomas Cook Acquires Kuoni Group"
- http://www.travelbizmonitor.com/Trade-News/thomas-cook-india-launches-one-currency-card-29140 "Thomas Cook India Launches One Currency Card"
- http://www.travelbizmonitor.com/Trade-News/thomascookin-launches-forex-mobile-app-28939 "Thomas Cook India Launches Forex App"
- News: Thomas Cook to acquire 74% stake in Ikya Human Capital Solutions for Rs 256 cr. Press Trust of India. The Indian Express. 6 February 2013. New Delhi.
- http://www.thehindubusinessline.com/companies/fairbridge-to-buy-77-in-thomas-cook-india-for-rs-817-crore/article3446420.ece "Acquisition of 76.8% stake by Fairbrige"
- http://www.business-standard.com/company/thomas-cook-i-564/information/company-history "Incorporation of Thomas Cook Lanka"
- http://newsroom.mastercard.com/press-releases/thomas-cook-india-ltd-collaborates-with-mastercard-to-launch-its-borderless-prepaid-card/ Launch of Borderless Prepaid Multicurrency Foreign Exchange Card "Launch of Borderless Prepaid Card"
- http://www.moneycontrol.com/news/announcements/thomas-cook-india-partnersrbl-bank_1182240.html "Thomas Cook Signed an Agreement for Marketing & Distribution of Borderless Forex Card"
- http://www.indiabusinessbrief.com/index.php/news-archives/185/194659-thomas-cook-india-ltd-collaborates-with-mastercard-to-launch-its-borderless-dailyfinance "Thomas Cook India Collaborates with Mastercard"
- http://www.hotelierindia.com/article-8847-thomas_cook_enters_into_deal_with_delhi_airport/ "Thomas Cook Enters into a Deal with Delhi Airport"
- http://www.franchisemart.in/franchise/thomas-cook-enters-a-7-year-deal-with-delhi-international-airport-ltd/ "Thomas Cook Enters a 7 Year Deal with Delhi International Airport"
- http://www.goodreturns.in/company/thomas-cook-india/notes-to-account.html "Thomas Cook Official Shares Report"
- http://businesstoday.intoday.in/story/fairbridge-capital-is-promoter-of-thomas-cook-india/1/187253.html "Fair Bridge Capital is Promoter of Thomas Cook India"
- http://articles.economictimes.indiatimes.com/2006-07-01/news-by-company/27442834_1_lkp-forex-tcil-currency-and-travel-insurance "Thomas Cook & LKP Forex Merger"
- http://www.indiainfoline.com/Markets/Company/Background/Company-Profile/Thomas-Cook-India-Ltd/500413 "Thomas Cook India Company Profile"
- http://articles.economictimes.indiatimes.com/2006-01-22/news/27457671_1_reconstitutes-board-dubai-investment-group-udayan-bose Thomas Cook India Reconstitutes Board
- http://www.indiainfoline.com/markets/company/background/company-profile/thomas-cook-india-ltd/564 "Commencement of Operations in Sri Lanka"
- http://economictimes.indiatimes.com/thomas-cook-india-ltd/stocks/companyid-12897.cms Listing of Thomas Cook (India) Limited on BSE pursuant to an initial public offering "Thomas Cook Listed on BSE Pursuant"
- http://www.moneycontrol.com/company-facts/thomascookindia/history/TCI "Thomas Cook History"
