PRN: Ferrari and Puma Announce Long-Term Partnership Extension
Ferrari and Puma Announce Long-Term Partnership Extension
MARANELLO, Italy, June 8, 2011 /PRNewswire/ --
Ferrari and PUMA today announced a long-term extension to their partnership. PUMA, the global sport-lifestyle brand 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 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 racewear 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 racewear, 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, 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."
Jochen Zeitz, Chairman 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."
PUMA is one of the world's leading sport lifestyle companies that designs and develops footwear, apparel and accessories. It is committed to working in ways that contribute to the world by supporting Creativity, SAFE Sustainability and Peace, and by staying true to the principles of being Fair, Honest, Positive and Creative in decisions made and actions taken. PUMA starts in Sport and ends in Fashion. Its Sport Performance and Lifestyle labels include categories such as Football, Running, Motorsports, Golf and Sailing. Sport Fashion features collaborations with renowned designer labels such as Alexander McQueen, Mihara Yasuhiro and Sergio Rossi. The PUMA Group owns the brands PUMA and Tretorn. The company, which was founded in 1948, distributes its products in more than 120 countries, employs more than 9,000 people worldwide and has headquarters in Herzogenaurach/Germany, Boston, London and Hong Kong. For more information, please visit http://www.puma.com<media> Photo: http://www.newscom.com/cgi-bin/prnh/20110608/461053 </media>