Tag Archives: Cox & Kings Ltd

Karan Anand, Head-Relationships and Supplier Management, Cox & Kings Ltd, was conferred the prestigious Gold Medal for Tourism (Médaille d’Or du Tourisme) by the French Government during a special ceremony hosted at the French Consulate in Mumbai. This is the first-ever Gold Medal given by the French government to an Indian in the tourism industry. Anand was awarded the gold medal by Yves Perrin, Consul General of France in Mumbai, for his pioneering contribution in promoting France in India. Perrin said, “We are pleased to give the gold medal to Mr. Karan Anand for his efforts in strengthening touristic ties between our two countries. As the Consul General of France, I would like thank him for his distinguished work towards the promotion of France as a prime tourist destination.” Sheetal Munshaw, Director – Atout France, added, “We are absolutely elated that Mr. Anand is the first Indian recipient of this prestigious gold medal in tourism conferred by the French Republic. Mr. Anand has been a great friend of France since several years and has actively contributed to the evolution of tourism to France. He has lent his expertise consistently and has over the years willingly extended his unwavering support to showcasing destination France in his capacity as member of the Advisory Board for Atout France. Our association with Cox & Kings has resulted in many innovative promotional programs showcasing the myriad experiences France has to offer. The role of Cox & Kings in introducing new destinations such as Chamonix Mont Blanc, the Grevin Wax Museum in Paris has been instrumental in our showcase of France. In 2016, a joint collaboration resulted in the creation of a first ever gastronomic brochure …

The board of Cox & Kings Ltd. has approved the demerger of its foreign exchange division into a separate financial services company to be named Cox & Kings Financial Service Ltd. (CKFSL). The demerger is effective April 1, 2017, and is subject to High Court and other regulatory approvals. Whilst the Tours & Travels and Foreign Exchange (‘Forex’) businesses are complementary in nature, the businesses operate quite distinctly from each other. The Forex business has 125 licenses across India to provide foreign exchange to captive customers as well as to third-party customers. Peter Kerkar, Chief Executive Officer, Cox & Kings Group, said, “Strong macro drivers coupled with a strategic brand presence will enable CKFSL to flourish. There are abundant, large-sized avenues for natural product diversification and the timing of this demerger is most opportune.” The working capital needs of the Forex Business are quite different from those of the Tours & Travels business. With a view to enable the Forex business to capitalize on growth opportunities in an independent manner it has been decided to demerge the business into a separate company. The demerged entity has the potential to grow substantially as a standalone business with separate financing and operations and focused leadership and management attention. The opportunities as well as risks and competitive environment within the Forex Business are distinct and the said business is capable of attracting its own set of investors and strategic partners, lenders and other stakeholders. It is proposed that the Forex Business of the Company be demerged and transferred to the Resulting Company, a wholly owned subsidiary company of the Company, so as to maximize value for all the stakeholders of the Company. In …

The State Bank of India (SBI) announced pilot launch of a distribution alliance with Cox & Kings Ltd for sale of travel prepaid cards in India. This partnership will help marketing of Travel prepaid card available in eight Currencies (US Dollar, GBP, Euro, Singapore Dollars, Jap Yen, Canadian Dollars, Australian Dollars & Saudi Riyal) and will currently target the corporate customers of the bank. Manju Agarwal, Deputy Managing Director,(Digital Banking and New Businesses) State Bank of India said, The Bank is excited as this has been the third  alliance SBI has entered into for travel Card business to supplement their distribution reach which is already very deep in the consumer segment. The partnership with Cox & Kings Ltd will help the bank to serve their corporate segment and travel segment, where the Bank is not very active in the product category due to service delivery challenges which can be facilitated with Cox & Kings Ltd   coming on board. The pilot will be initiated in select branches and based on the learning will be expanded across the country in near future. Anil Khandelwal, Chief Financial Officer, Cox & Kings Ltd, said, We are delighted to partner with SBI and to offer the entire gamut of forex services and the State Bank Travel card to its corporate customer base. Cox & Kings has an excellent track record in the distribution & servicing of forex travel cards and this association with SBI is a great opportunity to expand our presence and service large corporates.

As a part of the systematic efforts to provide education to the underprivileged kids, Cox & Kings Foundation- the philanthropic arm of Cox & Kings Ltd along with The Mamta Trust, has set up a new pre-primary school for underprivileged kids in Pune. The school will provide quality education, nutrition and care to the youngest and most vulnerable children in the area.  The admissions for the new academic year are open and once started, the school will run in two batches a day with almost 100 enthusiastic children. With quality education, the children will also get smart uniforms, daily nutritious snacks and stationery and learning supplies.  All these are free of cost except a small token fee of Rs. 200 which is charged to acknowledge the parents’ dignity. This also helps them to value the education that their children are receiving.

Making a foray into the money transfer business in India, Cox & Kings Ltd has partnered with UAE Exchange India, to provide inward remittance and domestic money transfer services in the country. This strategic venture will enable Indians living abroad to conveniently remit funds to their families in India, and also benefit foreign tourists visiting India. This association will expand the current network of collection centres and reach out to a broad category of consumers across the country. Cox & Kings has identified select locations within India, from where the customers can avail this service. There are no charges applicable to the recipient in India. Besides foreign inward money, domestic money transfer services will also be available at the designated Cox & Kings’ outlets through this process. Ravi Menon, Head—Foreign Exchange, Cox & Kings Ltd. said, “The strategic partnership will help us enter the money transfer business in India which is the largest recipient of remittance in the world. People who are expecting money from their relatives or friends abroad can now use our wide network of branches across India.” The facility of inward remittance will provide a convenient and quick mechanism for Indians working abroad to send money to their families in India and also benefit foreign tourists visiting India. The money will be received in minutes and all that the recipient has to do is visit one of the designated locations to collect their money.