Porsche Design Group and Adidas-Salomon AG have signed a long-term strategic partnership including licensing agreement. The objective of the cooperation is to jointly establish a hi-tech premium brand in the sports sector.
Footwear, apparel and hardware for golf, tennis, running and possibly other sports will be designed and developed under the name "Porsche Design" with the cobranding of the Adidas and TaylorMade brands. The first products in the new Porsche Design sports product line will be available in 2007 worldwide from select sports retailers and in the exclusive Porsche Design stores.
"The two premium brands, Adidas and Porsche, are characterized by a shared
dedication to consistent sports orientation, top quality and strong emotionality. I am firmly convinced that the partnership between Adidas and Porsche Design in the segment of exclusive sports products will successfully establish itself as a benchmark for the competition in future," stated Dr. Wendelin Wiedeking, President & CEO of Dr. Ing. h.c. F. Porsche AG.
"With Adidas we have found a strong international partner for Porsche Design
sports products. This partnership reflects a major step towards achieving our goal of expanding our Porsche Design product range with attractive and innovative products in the coming years," added Dr. Siegmund Rudigier, Porsche Design Group President.
"Porsche Design and Adidas are a perfect fit. This cooperation will lead to innovative, hi-tech sports products that capture the fascination of Porsche Design and Adidas," said Herbert Hainer, CEO of Adidas-Salomon AG.
"Our product strategies focus on innovation and design. Over the past few years, we have become leaders in the sporting goods market in both these fields," added Erich Stamminger, Executive Board Member of Adidas-Salomon AG responsible for Global Marketing. "Our partnership with the Porsche Design Group creates new possibilities to further expand this position."
Adidas-Salomon, based in Herzogenaurach, Germany, is the second largest sporting goods company in the world with its core brands Adidas and TaylorMade-Adidas Golf. In 2004, Adidas-Salomon achieved sales of € 6.5 billion and posted a record net income of € 314 million, with 17,023 employees worldwide.
Porsche Design is a global luxury men's brand and is determined by engineered products. Professor Ferdinand Alexander Porsche established the Porsche Design brand in 1972, whose products are attracting consumers with their technical innovation and represent functionality and timelessness in its purest form. Porsche Design products are sold in exclusive own retail and franchise stores, shop-inshops in up-market department stores and exclusive specialist stores.