Louis plc is pleased to announce that a franchise agreement has been signed with easyCruise Ltd,. The agreement provides that Louis plc, under certain conditions relating to investing in and operating a number of ships in the Eastern Mediterranean including Greece, will obtain exclusive rights to use the easyCruise brand in that area. Louis plc will also gain the benefit of using the online sales channel of www.easyCruise.com.
As a result of this agreement, Louis and easyCruise will jointly approach Neorion Holdings, the Greek shipyard group, in order to increase the number of ships covered by the letter of intent already announced by easyCruise from 2 firm + 2 options to 3 firm + 3 options, the additional vessels being ordered by Louis.
Going forward, Louis will have the option to either use a newly built vessel or a second-hand vessel to be upgraded and converted in order to meet the easyCruise standards. easyCruise Ltd will be able to operate in the region themselves until the time Louis plc deploys the agreed vessels.
Stelios Haji-Ioannou, the Chairman of easyCruise, commented that by joining forces with Louis plc, the clear market leader in offering cruises in the Eastern Mediterranean, easyCruise will not only benefit from their operational know-how in the area but also will allow the company to grow faster by ordering more ships and covering more geographical areas faster. If all the new building contracts and options are exercised, the total fleet operating under the easyCruise brand will reach 8 vessels by sometime in 2010 or 2011.
Costakis Loizou, Executive Chairman of Louis plc, expressed his satisfaction for the conclusion of this very important deal, which will create the opportunity for Louis Cruise Lines to expand its activities to a new type of cruising; one that is mainly addressed to younger generations and offers a product which complements the traditional activities of Louis Cruise Lines. In particular, Loizou stressed the fact that this expansion takes place within a strategic alliance with easyGroup and its owner Stelios who is an extremely successful serial entrepreneur.
