GLOBAL athletics brand Puma said that the renewed contract with Jamaican sprinter Usain Bolt allowed its brand to stay ‘on track’, amidst posting a 154 per cent rise in annual net earnings year-on-year to €202.2 million.

“In our Running category we took steps to ensure Puma stays on track by renewing our sponsorship with longstanding brand ambassador and sprint superstar Usain Bolt,” stated the recently released annual report about the year’s activities. “Bolt will continue to sport Puma performance, training and lifestyle apparel and footwear on and off the track and work with Puma design teams to create new and exciting lines to the recently Bolt Collection.”

The report added that Bolt’s contract renewal was a highlight in 2010.

“I would like to stress that there were many Puma moments that made my last fiscal year as your chief executive officer (CEO) as special as any other… I will never forget the headline-making launch of our new packaging system ‘Clever Little Bag’ in London, our successful events and initiatives around the Football World Cup in South Africa, the extension of Usain Bolt’s endorsement contract or Sebastian Vettel becoming the youngest World Champion in Formula One history, just to name a few,” stated CEO Jochen Zeitz in his statement accompanying the recently released annual report.

Puma brand sales jumped 9.8 per cent to €2.86 billion year-on-year ending December 2010.

“Bolt’s formula to success is simple: Be the fastest man in the world and look good doing it! To make sure that his unique personality and style are reflected in PUMA performance wear, Bolt worked closely together with the PUMA design team to transfer his inspiration into a PUMA training collection,” stated Puma.

The three-year contract renewal signed for an undisclosed sum in August 2010 represented, according to Puma, the largest sponsorship contract by a track and field athlete to date. It follows the estimated eight-figure Nike contract received by US sprinter Carl Lewis. Bolt, the two-time world record holder and triple World and Olympic champion, entered the Puma contract in 2003, which runs until 2013.

It wasn’t the first time that Puma has lauded the value of Bolt to its investors. In its 2009 annual report Puma indicated that the performance of “Bolt at the World Athletics Championships in Berlin, where he broke the 100m and 200m world records, proved to be a particular highlight for the Puma brand”.

Source:Jamaica Observer