Puma and Ferrari extend partnership
German sports brand Puma will continue to be the official licensing partner for Ferrari-branded products and the official supplier of the marque’s Formula One team after the two parties announced a contract extension on 8 June, 2011.
The brand has collaborated with Ferrari for the past six years and although the exact length of the new deal has not been disclosed, a joint-statement claimed the agreement would run for “a further long-term period”. Under the terms of the contract, Puma will continue to develop Ferrari-licensed footwear, apparel and accessories for global distribution, and the two partners will develop a complete new collection to be presented at the end of this year.
“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,” said Ferrari chairman Luca di Montezemolo. “Their commitment to product design, development and race wear technology is unrivalled in the industry, and they continue to impress us on all counts.”
Puma chairman and CEO Jochen Zeitz added: “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 in both a commercial and reputational sense. 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.”
