PUMA, Ferrari sign deal
Cape Town - Ferrari and PUMA on Wednesday announced a long-term extension to their partnership.
PUMA will continue to be the official licensing partner for Ferrari branded products and the official supplier of team and race wear for Scuderia Ferrari. On the back of a highly successful six year collaboration, this new agreement will see the two companies work together for a further long term 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. The partnership has become one of the most commercially valuable licensing relationships for both Puma and Ferrari, and the two companies have strengthened their relationship by developing a complete new collection which will be presented at the end of this year.
PUMA is the sport-lifestyle brand with the longest heritage in motorsport, and its development of fire retardant technology has revolutionized driver race wear by dramatically reducing weight while maintaining the optimal performance of safety and comfort. PUMA will continue to supply Scuderia Ferrari with the latest technological innovations in team and race wear, enabling Fernando Alonso and Felipe Massa to compete for the coveted Drivers' and Constructors' Championships in one of the lightest and safest race suits in Formula One.
Luca di Montezemolo, chairperson 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 race wear 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."
Jochen Zeitz, chairperson and CEO of PUMA AG, said: "We are delighted to continue and deepen our partnership with Ferrari. To extend a relationship with the most prestigious brand in the automotive industry and the most popular and successful team in Formula One is of great benefit to us both commercially and reputationally. The Ferrari licensed product development we have undertaken so far has been very successful, and the plans we have for the coming years are equally exciting. They are an ideal motorsport partner for us in every respect." Luca di Montezemolo, chairperson of Ferrari and Jochen Zeitz, chairperson and CEO of PUMA (File)