Chinese Owner Plans to Relaunch the Thomas Cook Brand Next Year

Thomas Cook is set to be relaunched by its Chinese owner, who plans to use the 178-year-old British tour operator’s brand on a travel platform targeting European customers, according to a report posted by Bloomberg.

Based on that piece of information, Fosun Tourism Group, the Shanghai-based company that bought Thomas Cook’s trademark following its dramatic collapse in September, will debut the platform in the first half of next year.

Some of Fosun’s existing travel offerings will be grouped together and re-branded as Thomas Cook, with the aim to lure travelers -- particularly those in Europe familiar with the name -- to the company’s resorts around the world, the report indicates.

Tapping Thomas Cook’s former glory may prove challenging after its bankruptcy led to 9,000 job losses in the U.K. and left 150,000 tourists stuck overseas, with the holiday plans of thousands more ruined. Fosun, which owns resort chain Club Med SAS, had acquired 18% of Thomas Cook but balked at the cost of funding its rescue.

According to the Bloomberg report, the Chinese company, part of a wider group spanning insurance to pharmaceuticals, shelled out $14 million in November for the trademark and its two hotel brands -- Casa Cook and Cook’s Club -- along with their domain names, apps and social media accounts.

Founded in the 1840s as an operator of train trips through the English midlands, Thomas Cook’s demise raised questions about the viability of the packaged tour model as tourists pivot more toward individual and self-directed travel. 

Making the re-brand work could be tough for Fosun’s tourism arm, which has lost more than a third of its market value since listing in Hong Kong about a year ago. The new platform will offer services including resort and hotel bookings, show tickets and club memberships, said the person.