Ellie Horvath
Key Takeaways:
- London-based tour operator, Culture Trip, completes a management buyout (MBO), positioning the company for a new phase of growth.
- The company launches a strategic review aimed at identifying the best path for further development both in the UK and internationally.
- Culture Trip’s unique, curated trips appeal to their vast community of digital-savvy millennials, driving significant growth and expansion.
Culture Trip: Inspiring Journeys Beyond Boundaries
Culture Trip, the millennial-focused tour operator, was founded in 2011 to inspire people to venture beyond their cultural boundaries. Based in London, the company has since evolved into a vibrant e-commerce brand offering unique, small-group trips that emphasize sustainability and insider insights.
Today, Culture Trip is the essential travel companion for millions, with a strong online presence. The travel inspiration platform boasts over 90,000 pieces of content and thousands of curated guides, attracting approximately 9 million unique visitors each month to culturetrip.com. The Culture Trip app has been downloaded by over 3 million users, further amplified by a robust social media following of 8.6 million.
New Directions: Management Buyout and the Strategic Review
Under the stewardship of CEO Ana Jakimovska, Culture Trip has recently completed a management buyout (MBO). This significant move places 100% of the company’s equity in the hands of its management team.
Having raised over £134 million from investors, Culture Trip now embarks on a strategic review to shape the company’s future. This forward-thinking strategy will examine potential avenues for expansion and growth, both domestically and internationally.
“Our mission is to connect people through responsible travel to help with loneliness and the climate crisis. Since our pivot last year, we’ve achieved incredible growth. Our unique curated trips deeply resonate with our engaged community of millennials and we are excited about what the future holds for us,” expressed Ana Jakimovska.
Dynamic Growth and the Future of Culture Trip
At the outset of 2022, Culture Trip initiated a fresh strategy – selling unique curated trips to digital-savvy millennials. Using their digital content as a magnet, the company experienced swift growth since this pivot, boasting a noteworthy 30% quarter-on-quarter growth and a staggering 78% year-on-year growth.
The strategic review includes Culture Trip exploring all possibilities, including a growth investment and a full sale of the business. Preliminary discussions have already begun with several potential domestic and international firms, with Lazarus Consulting, a boutique M&A advisory firm, managing the process.
The Road Ahead
The combination of the MBO and strategic review sets the stage for the next chapter in Culture Trip’s journey. With a focus on meaningful, responsible travel, the company continues to connect with their millennial audience, providing them with unparalleled experiences and cultural explorations.
Culture Trip’s story is one of continuous evolution and reinvention. With this new strategic roadmap, they are well-positioned to navigate the dynamic landscape of travel and tourism in the post-pandemic world, maintaining their commitment to sustainable travel and genuine cultural experiences.
As Culture Trip embarks on this exciting new chapter, the world will be watching with great interest to see where this adventure will lead next, proving once again that the journey is indeed as important as the destination.
