PUMA Signs Deal With Formula 1 to Become Official Licensing Partner and Exclusive Trackside Retailer
HERZOGENAURACH, Germany & MIAMI–(BUSINESS WIRE)– Sports company PUMA and Formula 1 have signed an agreement which will make PUMA the official supplier at Formula 1 races, granting the brand the right to produce F1 branded apparel, footwear and accessories. PUMA will also equip Formula 1 staff at track and create Formula 1 fanwear that targets the sport’s different audiences with exciting lifestyle and motorsport collections. The contract includes exclusive rights to sell F1 fanwear and fanwear of all ten teams around the race circuit starting 2024.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230504005632/en/
Sports company PUMA and Formula 1 have signed an agreement which will make PUMA the official supplier at Formula 1 races, granting the brand the right to produce F1 branded apparel, footwear and accessories. (Graphic: Business Wire)
PUMA has a long and successful history in motorsport. It has developed fireproof overalls, race shoes and other high-performance racing gear for F1 drivers since the mid 80s as well as teamwear, fanwear and lifestyle collections for the sport’s most successful teams. Today, PUMA is the leading provider of race gear and lifestyle collections in Motorsport with partners such as Mercedes AMG Petronas F1, Scuderia Ferrari, Alfa Romeo F1 Team Stake, BMW M Motorsport and Porsche Motorsport.
Formula 1 has seen a sharp rise in popularity in recent years, with its fanbase becoming younger and more diverse. Cumulative TV audiences have also grown to reach 1.5 billion viewers race attendance also reached record levels in 2022, with the sport continuing to grow on social media. The partnership provides PUMA with the opportunity to augment its established dominance in the sport by appealing to a broader fan base, tap into more diverse consumer groups and bring the inspiration of on-track gear to off-track fashion.
“PUMA has become the most authentic and credible sports brand in motorsports and has the expertise to create the best products for the world’s leading drivers and teams as well as for its fans”, said Arne Freundt, CEO of PUMA. “The influence of motorsport, and Formula 1 in particular, on sports- and streetwear culture has significantly increased in recent years. Our new partnership with Formula 1 is an exciting opportunity to further explore this blend of motorsports and lifestyle. PUMA has always sat at the intersection of sports and fashion and we feel we are in the perfect position to translate the culture of the sport into relevant streetwear collections and drive brand heat with a young, affluent, and diverse audience.”
Stefano Domenicali, President and CEO of Formula 1, said: “As F1 continues to grow around the world, we have been reaching new fans through exciting collaborations and are seeing the sport enter areas of mainstream culture we have not seen before. PUMA has a rich history in motorsport, making them the perfect fit for F1 as we take the sport’s apparel to the next level for fans on the street, drivers in the paddock, and everything else in between.”
PUMA’s subsidiary stichd, a company for licensed fanwear as well as legwear, bodywear and swimwear, will exclusively operate the fan retail stores during race weekends. These shops will sell Formula 1 licensed products as well as replica teamwear, fanwear, and special edition collections from all ten teams on the Formula 1 grid and F1 legends.
“Selling fanwear at every F1 race is a fun and challenging project because the conditions at every track are different, from the hillsides of Zeltweg and Spa to the city centers of Monaco and Baku,” said Nina Nix, CEO of stichd. “No matter where the race is held, stichd will create a truly immersive fan experience that goes well beyond selling fanwear.”
stichd will set up to 65 mobile stores at more than 20 races in 19 different countries, equaling more than 4,000 sqm sales space. The stores are made from durable and lightweight materials, so they can be transported efficiently from one event to the next.
The first PUMA x Formula 1 products will be available at PUMA stores worldwide and PUMA.com, starting February 2024.
PUMA is one of the world’s leading sports brands, designing, developing, selling and marketing footwear, apparel and accessories. For 75 years, PUMA has relentlessly pushed sport and culture forward by creating fast products for the world’s fastest athletes. PUMA offers performance and sport-inspired lifestyle products in categories such as Football, Running and Training, Basketball, Golf, and Motorsports. It collaborates with renowned designers and brands to bring sport influences into street culture and fashion. The PUMA Group owns the brands PUMA, Cobra Golf and stichd. The company distributes its products in more than 120 countries, employs about 20,000 people worldwide, and is headquartered in Herzogenaurach/Germany.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230504005632/en/
Corporate Communications – PUMA SE
+49 9132 81 2984