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Published on : Friday, August 18, 2017
The strategic partnership of Intrepid Group with Polar and Latin American Specialist, Chimu Adventures will fuel the growth leading to quick scaling in the global market.
The Intrepid Group further wishes to expand its tailor made product across multi-brand vertical.
The two companies is expected for potential growth opportunities and share business value together and is looking forward to be the largest sellers of travel to Antarctica globally.
The purpose of the new joint venture partnership is to launch a range of charter cruises to the Arctic and Antarctica mentioned James Thornton, the Intrepid Group chief executive.
The first Adventure Cruise range was launched this year and it had a phenomenal response. There is a huge demand for a more sustainable and experiential style of cruise so the intention is to expand in to polar charters.
After returning to independent ownership two years ago, this was Intrepid group’s first investment. The original founders bought back the company after a shareholder split to enter the market providing a sustainable experience-rich travel.
The record sales of the Intrepid Group shooted upto 19 per cent this year post the split with TUI.
There will be a 50 per cent stake in Chimu Adventures, Get About Asia, and three sales offices in the United Kingdom, Sydney and the Sunshine Coast.
The agreement also says about 50 per cent investment in Chimu’s three South American destination management companies enabling both companies to expand their global network of local destination management companies.
The Melbourne-based Intrepid Group is one of the world’s largest provider of travel experience it employs 1,600 staff in 27 offices.
Under the new agreement Chimu Adventures will remain independent of the multi-brand Intrepid Group with co-founders Greg Carter and Chad Carey continuing to have complete autonomy to run the company.
Greg Carter, Chimu Adventures co-founder said that he was thrilled to partner with the team at Intrepid Group sharing common ideas on sustainable travel.
He started the business 13 years ago in a London apartment with a second hand laptop to a global level.