IZOD Ending Its Sponsorship Of IndyCar
INDIANAPOLIS — As a competitive season that has season 10 different winners heads to its conclusion with only three races remaining, IndyCar officials and teams received a difficult pill to swallow Friday afternoon as IZOD announced it will conclude its sponsorship at the end of the season.
IZOD became an IndyCar sponsor in 2008 and took over as title sponsor in 2010.
“We are proud of our partnership with IZOD over the past six years and we’re grateful to PVH Corp., owner of the IZOD brand, for its support, creativity and vision,” said Mark Miles, chief executive officer of Hulman & Co., the parent company of IndyCar. “But circumstances change and now we’re seeking new partnerships with brands looking to align with the fastest, most versatile form of racing.
“We are combining and strengthening our commercial functions at IndyCar and Indianapolis Motor Speedway, which will allow us to more aggressively pursue new opportunities for our sport.”
Meanwhile, IZOD will move its marketing focus in another direction.
“After an exciting relationship that has been as enjoyable and fast-paced as IndyCar itself, PVH Corp. has made the decision to not continue IZOD’s title sponsorship with IndyCar beyond the 2013 season,” said Mike Kelly, executive vice president, The PVH Marketing Group. “As we and our retail partners shift the IZOD brand’s product focus, we need to shift our marketing spend to complement it. We would like to thank the IndyCar community, from the amazing fans, to the incredible drivers, to the entire series, for their partnership. We wish the series all the best and we look forward to finishing out the 2013 season with much success.”
Despite the loss of sponsorship, which comes a day after IndyCar announced a new road race at Indianapolis Motor Speedway, Miles put a positive spin on the announcement.
“Our on-track competition is at an all-time high and IndyCar offers a unique activation platform with brand attributes of speed, technology and innovation. With changes we’ve made to our overall company structure and the master facility plan underway at the Indianapolis Motor Speedway, we’re heading into discussions with some very creative opportunities,” Miles added.