Ferrari and Puma extend partnership

Ferrari and apparel company Puma will extend their six-year deal, the companies said on Wednesday. Puma will continue to be the official licensing partner and racewear supplier for Ferrari.

Ferrari is expecting to expand its global reach as the Formula One calendar grows into markets such as India and the United States. The partnership is one of the most commercially valuable for the companies, according to Ferrari.

"Their commitment to product design, development and racewear technology is unrivaled in the industry," Ferrari chairman Luca di Montezemolo said. "Clearly, licensed apparel and footwear is a key business area for us, and it could not be in better hands."

The two will collaborate on a new collection of apparel which will debut at the end of this year.

You can read the press release below.

FERRARI AND PUMA ANNOUNCE LONG-TERM PARTNERSHIP EXTENSION

Maranello, 8th June 2011 - Ferrari and Puma today 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. The partnership has become one of the most commercially valuable licensing relationships for both Puma and Ferrari. The two companies have decided to strengthen 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 revolutionised 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."

By Jake Lingeman