Fosun : Club Med and Thomas Cook Launch a New Strategic Partnership

The two groups become "preferred partners" for Europe

From left to right: Henri Giscard d'Estaing, Chairman and Chief Executive Officer of Club Méditerranée
and Peter Fankhauser, Chief Executive Officer of Thomas Cook

London, 21 July 2015 - Peter Fankhauser, Chief Executive Officer of Thomas Cook, and Henri Giscard d'Estaing, Chairman and Chief Executive Officer of Club Méditerranée, have launched a strategic three-year partnership to cover Europe.

The new agreement will deepen the existing collaboration between both travel companies, focusing on the delivery of joint marketing activities; and valuating possibilities for working together on transport for both short and long-haul destinations.

The strategic partnership will build on Club Med's current relationship in France with Thomas Cook, aiming to achieve €100m of product revenue through Thomas Cook's sales channels by 2018, representing a 60% growth, to attract new customers in the UK, Germany, Finland, Sweden, Denmark, Norway, Russia, Belgium, the Netherlands, Poland, the Czech Republic and Hungary.

Club Med aims to generate strong growth by stepping up its business development in Europe by getting access to Thomas Cook's sales channels across European markets.

The agreement is fully in line with Club Med's international development strategy, and once again demonstrates its confidence in a network renowned for its expert sales force, its excellent knowledge of the Club Med offering and its extensive European coverage with high-potential premium locations.

For Thomas Cook, the new strategic partnership aims to enhance its offering by giving its European customers access to all-inclusive, upmarket holidays and enabling it to benefit from Club Med's brand appeal and its high-profile across a wider geographic area.

Each European market will be targeted via two major development focuses, distribution and transport:

- The two partners will therefore carry out joint marketing initiatives, including creating a Club Med "digital corner" on the Thomas Cook website, setting up Club
Med corners in Thomas Cook travel agencies and offering Thomas Cook employees a training program and the opportunity to attend familiarisation trips.
- The two groups are evaluating a cooperation in the area of transport on short and long haul destinations as well as on mountain destinations served by both brands.