Thomas Cook aims to achieve €100 million of annual sales of Club Med holidays through its various channels by 2018.
This would represent 60% growth by attracting new customers in the UK, Germany, Finland, Sweden, Denmark, Norway, Russia, Belgium, Holland, Poland, the Czech Republic and Hungary.
The target is part of a three-year partnership to cover Europe between the two travel partners and will build on an existing relationship in France.
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.
Each market will be targeted by focusing on two major areas – distribution and transport.
Joint distribution and marketing initiatives are planned, including creating a Club Med “digital corner” on the Thomas Cook website, setting up Club Med corners in Cook travel agencies and offering Cook staff training and the opportunity to attend familiarisation trips.
The two groups are evaluating co-operation on short and long haul destinations as well as ski destinations served by both brands.
The move follows Club Med’s Chinese owner Fosun taking an initial 4.8% stake in Cook in March for £92 million.
Club Med chairman and Chief Executive Officer Henri Giscard d’Estaing said: “I am delighted by the launch of this new strategic partnership today, which widens to Europe an already prolific collaboration in France, that has been existing for many years.
“This partnership aims to generate strong sales growth in the European countries where Thomas Cook is present, a real opportunity for both our groups.”
Cook chief executive Peter Fankhauser said: “We are excited about the opportunities that this strategic partnership with Club Med will bring.
“Both companies have a long and distinguished history in the travel industry and we very much look forward to driving forward our commitment to delivering high-quality holidays to greater numbers of customers in Europe.”