Perfect fit
In July 2008, Phillips-Van Heusen announced an agreement with the Indianapolis Motor Speedway and the sanctioning Indy Racing League that designated the IZOD brand as the official apparel sponsor of the Indianapolis Motor Speedway, IndyCar Series and Firestone Indy Lights.
Today, during a fashion show-themed reveal at the historic Indianapolis Motor Speedway, Phillips-Van Heusen Corp. announced a six-year agreement with the Indy Racing League for the IZOD brand to become the title sponsor of the newly renamed IZOD IndyCar Series.
Over the past two years, both entities have seen pieces fit to mutual benefit. Speed, competition, danger, athleticism meets vibrant and well-known lifestyle apparel brand appealing to the entire family.
"Our relationship with the IZOD brand has been on the fast track since the day we began our partnership in 2008, and we are thrilled they have taken a bigger and more vital role in our sport," said Terry Angstadt, president of the commercial division of the Indy Racing League.
League officials have been seeking to align with a company that would expand the scope and demographic as the IndyCar Series title sponsor (its first since 2001) through activation beyond race markets. IZOD's proven that repeatedly.
"Their strong marketing skills, national retail partnerships and ability to bring fresh eyes to the sport have already proven powerful in our short time together," Angstadt said. "We're confident that we have found a partner with a strong brand, a bright future and a vision for growing the IZOD IndyCar Series that will benefit fans, drivers, teams, owners and tracks."
Phillips-Van Heusen Corp. knows a thing or two about marketing and positioning itself with brands that make a statement. It's the world's largest shirt and neckwear company and markets a variety of goods worldwide under its own renowned brands (Van Heusen, Calvin Klein, IZOD, ARROW, Bass, and G.H. Bass & Co.) and licensed brands such as Nautica, Timberland and Tommy Hilfiger.
"Our involvement with the IRL began shortly after the unification of U.S. open-wheel racing and, despite the recession, we have seen growth and sense the potential for even greater opportunity as the sport is re-energized on the American sports landscape, as well as abroad," said Allen Sirkin, President and Chief Operating Officer of Phillips-Van Heusen.
Multi-year, multi-million dollar activation plans and brand-building efforts include:
• Increased and enhanced nationalmedia initiatives with television partners ESPN on ABC and VERSUS.
• Multi-year, multi-million dollar commitment to participate in the IZOD IndyCar Series Team Enhancement and Allocation Matrix. Introduced in 2008, TEAM provides a guaranteed financial foundation for every team committed to running the entire schedule.
• Access to drivers and 100 years' worth of motorsports assets and graphics from the Indianapolis Motor Speedway Hall of Fame Museum, including current and vintage cars, for both on- and off-track events in and out of race markets.
• Shared Web initiatives and online promotions.
Additional activation, promotional plans and marketing initiatives will be unveiled before the 2010 season opener in March. The IZOD IndyCar Series will conduct 13 races in the United States, two in Canada and one both in Japan and Brazil, all available worldwide through comprehensive, long-term agreements with ESPN on ABC and VERSUS in high-definition.
IZOD will retain its designation as the official apparel partner of the Indy Racing League (IZOD IndyCar Series and Firestone Indy Lights). Firestone, the exclusive tire supplier to both series, will continue to be the title sponsor of the developmental series.
"The combination of young, dynamic drivers representing over 14 countries, events in key domestic and global markets and its strong American racing heritage make the IndyCar Series a perfect fit for the sport-spirited IZOD brand lifestyle," said Brian Barnhart, president of the Indy Racing League's competition and racing operations divisions.
The agreement, which could have a far-reaching positive impact on team, driver and racetrack sponsorship initiatives, was universally hailed.
"It's fantastic that a company like IZOD, which became involved in the series, has recognized the value and benefits of the product and has decided to expand their involvement into a major sponsorship," HVM Racing owner Keith Wiggins said. "There is no better proof of the value in this type of partnership than when the sponsor commits to growing with the brand.
"IZOD is a great brand and a great partner, and the activation and business opportunities they bring will clearly be a benefit to the series and all the teams involved."
Added Andretti Green Racing driver Marco Andretti: "It's really great to see the IndyCar Series gain a title sponsor in such a tough economy. It's been a rough couple of years for the racing industry and this just goes to show that support is still out there. IZOD has been really supportive over the past few seasons and has done great things to get the IndyCar name out there.
"I think this partnership is the next step in continuing the growth of the series."
