EaseMyTrip expands its international presence to New Zealand; The stock soars about 1.5%
EaseMyTrip, India’s second largest online travel platform, has expanded its international presence by incorporating a wholly-owned overseas subsidiary in New Zealand as part of its global expansion strategy. The company made a foray into New Zealand anticipating huge pent-up global demand for the travel and tourism sector in the coming months.
As part of this new phase of expansion, the company will launch a localized travel search engine in New Zealand to allow customers in the region to take advantage of EaseMyTrip’s value-added services.
The subsidiary will also replicate the lean and profitable operating model with no minimum paid-in capital. The brand has successfully adopted a similar model in India for over 14 years and will continue to convey maximum benefits to customers in the respective region.
Speaking on the expansion, Rikant Pittie, co-founder of EaseMyTrip, said: “New Zealand is a significant part of our international holiday segment and we are excited to be entering this brand new market in the part of our global expansion. With strong pent-up travel demand across the world, we see a wider global market opening up to travel and believe EaseMyTrip is well placed to meet the demand in New Zealand.
At the start of the new fiscal year, EaseMyTrip will continue to grow in the airline ticketing segment and also expand its hotel and vacation segments. To continue its global expansion efforts, the company has successfully established its headquarters in Dubai (www.easemytrip.ae) and will consider opening offices in the UK and US markets to challenge established players in the foundation of its lean infrastructure and technology. -directed innovations.
At around 10.42am, Easy Trip Planners was trading at 407.15 rupees per share, up 1.43% on BSE.