Okay it’s a football marketing blog, not a Formula 1 blog. However, given PUMA specific positioning in motorsports, I believe it’s worth pointing out their partnership extension with Ferrari, the statistically most successful Formula 1 team in history.
PUMA is positioned as a sportslifestyle brand that takes pleasure in skillfully combining sports and lifestytle with a one of a kind commitment in motorsports and sustainability. With the extension of the partnership with Ferrari, PUMA significantly consolidates its brand positioning.
Tapping into Formula 1 was not only to generate licensed revenue, but also to contribute to what PUMA brand stands for. No other sports brand has this marketing positioning and vision. Puma sets itself differently from adidas and Nike and it’s very interesting for any marketeer out there.
Ferrari and PUMA yesterday announced a long-term extension to their partnership. The global sport-lifestyle brand will continue to be the official licensing partner for Ferrari branded products and the official supplier of team and racewear for Scuderia Ferrari. On the back of highly successful six year collaboration, this new agreement will see the two companies work together for a further lengthy period.
Through this extended partnership, PUMA will continue to develop Ferrari licensed footwear, apparel and accessories for global sales and distribution. As the Formula One race calendar is expanding into new markets, the global reputation and profile of the sport continues to grow, resulting in a projected increase in the sales performance of Ferrari licensed product worldwide.
Luca di Montezemolo, Chairman of Ferrari S.p.A., said: “We have enjoyed a very successful relationship with PUMA over the past six years, and we are very happy that this will continue long term. Their commitment to product design, development and racewear technology is unrivalled in the industry, and they continue to impress us on all counts. Clearly licensed apparel and footwear is a key business area for us, and it could not be in better hands. We look forward to continue working with PUMA for many years to come.”
As I mentioned in the title, I believe this is great news for football. Formula 1 offers a fantastica platform to extend football in new markets. Let’s keep in mind that revenues from Formula One’s commercial rights will reach more than US$3 billion per year by 2016, according to new research from F1 industry monitor Formula Money.
The Formula 1 will be a strong platform to help PUMA expand other categories such as football and other sports in new markets.