The world’s largest travel B Corp, Intrepid Travel, has announced a strategic partnership with French investment company Genairgy to help it accelerate its purpose-led strategy as it moves out of COVID-19 and into the reset phase.
Intrepid says the strategic partnership will help the company to accelerate its ambitious growth strategy with the goal to become the world’s first $1 billion adventure travel company by 2025.
So who is Genairgy?
Genairgy is a France based family investment company owned by Julien Leclercq – a board member and shareholder of Decathlon, which is one of the largest sports retailers globally with five outlets in Australia.
With a mission of ‘Happiness through sport,’ Intrepid says Genairgy’s strategy and values are closely aligned to their own.
Genairgy also owns a destination management company (DMC) network, Altai, and has an adventure travel division with several investments in the area.
Intrepid says the new agreement will support the company in four key growth areas: digital transformation, product innovation, market expansion and purpose initiatives.
Intrepid Co-founders Darrell Wade and Geoff Manchester, who started the business in 1989, retain majority ownership of the company and remain on the Board as Chairman and Director, respectively.
James Thornton will continue as CEO and a member of the Board; and Non-Executive Directors, Liz Savage and Sarah Morgan will remain. Genairgy owner Julien Leclercq will join the Board.
Speaking about the new partnership with Karryon, Intrepid Travel CEO James Thornton said: “We’ve really taken the time to reimagine our business in the last year. This exciting new partnership with Genairgy means we can collectively apply our new focus in so many ways to benefit our travellers, partners and every aspect of our operations for the long-term.”
“As the travel industry starts to recover from the pandemic, we remain focused on building the best travel company for the world,” says Intrepid’s CEO, James Thornton.
“More importantly, Genairgy recognise that this will only be achievable by balancing purpose and profit.”
Intrepid Travel CEO James Thornton
“To share this news, just one year on from hibernating our business and during an ongoing global pandemic is not only remarkable but humbling.” He said.
In 2019, Intrepid achieved a record year of AUD $491 million of sales. And, in 2020, despite the impacts of the pandemic, it launched more than 100 sustainable local trips and became the first and only tour operator in the world with verified science-based carbon emissions targets.
Speaking about Intrepid’s local trips, James said: “We’ve seen a fantastic response to our local offerings, and particularly for our nature-based retreats.”
In March 2021, Intrepid was also recognised by Fast Company as one of the most innovative travel companies in the world.
Asked about the appetite for sustainable and purpose-led travel coming out COVID-19, James said: “I think more travellers are demanding a sustainable approach to their travel and we anticipate that this will only continue to build as people get moving again globally.”
“The fact that Genairgy and Intrepid have come together at this time demonstrates real confidence in the future of sustainable experience-rich travel. It’s clear that what was once considered a niche, will become a mainstay tourism model post-Covid,” he adds.