Ferrari renews multi-year partnership with Puma

Ferrari said on Sunday that its racing division has renewed a partnership with German sports goods maker Puma.

Scuderia Ferrari has renewed its multi-year partnership with Puma, which will become its premium partner starting next year, the company said, without mentioning the deal's value.

"Since 2005, PUMA has the ambition to be the best brand partner for Scuderia Ferrari. We have celebrated many successes and the passion for Ferrari with the millions of tifosi worldwide over the past two decades. I'm very excited that we will further deepen our strong partnership by not only prolonging our partnership but further extending the scope of our collaboration," said Arne Freundt, PUMA CEO.

"Our longstanding journey with PUMA is a testament to an enduring trust and synergy to continue to embrace new opportunities together," said Benedetto Vigna, Ferrari's Chief Executive Officer. "As leaders in our respective fields, we are ready to support each other, demonstrating an unwavering commitment to offering increasingly engaging experiences for our Tifosi and brand lovers," he said. 

The renewal of the partnership reinforces the collaboration between the two companies, which started in 2005 when Puma agreed to provide Ferrari's Formula One team with sportswear, shoes, and accessories.

(With Reuters Inputs)