Philips Shavers success leads to increased Williams F1 team sponsorship in 2007
Thursday, November 23, 2006 - Amsterdam, The Netherlands: – Philips Shavers today signed an agreement to increase their 2007 sponsorship commitment with the WilliamsF1 Team, to include on-car branding. Following a successful trial year in 2006, Philips Shavers has seen a global turnover increase of 15%1 for its shaving line of business since the sponsorship became active and in 2007 will increase its team sponsorship by over 50% and become an on-car sponsor.
Bringing innovation to the category
Andrea Ragnetti CEO Philips Domestic Appliances and Personal Care and Chief Marketing Officer Royal Philips Electronics commented, “Our primary objective in 2006 was to bring innovation to the category, we did this via two strong electric shaver launches, the Smart-TouchXL and SpeedXL and by investing in the WilliamsF1 Team sponsorship. We want consumers to know that Philips leads the way in terms of technical and product innovation for this category”. In 2006, the Williams F1 team sponsorship platform underpinned all our activities for the shaving business and has created great results”, concluded Andrea Ragnetti.
Producing a shaving range to support the sponsorship
Producing a WilliamsF1 Team shaver range to support the sponsorship was a key element of the sponsorship activation programme. Nico Engelsman, Business Manager Shaving and Senior Vice President Philips DAP said, “It was a calculated risk to develop a formula one specific shaver, but our consumer research tells us our target consumers are focussed on product design as much as other considerables such as brand name and price when choosing an electric shaver”. Philips Shavers designed a joint range with the WilliamsF1 engineering and design team and the 7200 shaver has been presented to all key retail partners globally and initial distribution commitment has been consistently positive with sales up by 30% versus initial forecasts.
1 (year on year)
Business rationale for increased sponsorship
The WilliamsF1 Team and Philips Shavers partnership is a strategic alliance that brings together two companies with similar values and culture. WilliamsF1 is one of the world’s leading Formula One teams and has secured 16 FIA Formula One World Championship titles, whilst Philips Shavers holds the number one position in the electrical shaving market. Today, Formula One is the world’s single most popular annual televised sporting event with an average of 162 million TV viewers across the globe per Grand Prix. Philips’ continuing partnership with the WilliamsF1 Team, has been and will be extremely important for global exposure and marketing of the Philips Shavers brand.
Looking towards 2007
In addition to Official Sponsor branding, Philips will be given increased advertising rights including Official Sponsor Designation, use of logo and team imagery, and endorsement rights via both team drivers, Nico Rosberg and Alex Wurz. WilliamsF1’s Team Principal Frank Williams said, “We’re delighted that our partnership has been sufficiently successful to grow, extend and increase the programme. Both Philips Shavers and the WilliamsF1 Team share a philosophy of advances in innovation, design and technology”.
About Royal Philips Electronics
Royal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is a global leader in healthcare, lifestyle and technology, delivering products, services and solutions through the brand promise of “sense and simplicity”. Headquartered in the Netherlands, Philips employs approximately 126,000 employees in more than 60 countries worldwide. With sales of EUR 30.4 billion in 2005, the company is a market leader in medical diagnostic imaging and patient monitoring systems, energy efficient lighting solutions, personal care and home appliances, as well as consumer electronics. News from Philips is located at www.philips.com/newscenter.
About The WilliamsF1 Team
WilliamsF1 is one of the world’s leading Formula One teams, with 16 FIA Formula One World Championship titles and 113 Grand Prix victories to its credit. Today, WilliamsF1 employs around 550 personnel at a 40ha technology campus based in the heart of the UK’s ‘Motorsport Valley’ in rural Oxfordshire. It is the only organisation contesting the Formula One World Championship that exists purely to race.
The company’s core competencies are the design and manufacture of Formula One race cars, and the deployment of this expertise in running the team’s entries into the Grands Prix each season. The company was formed in 1978 and is privately owned by Sir Frank Williams and his long-term business partner, Patrick Head. For more information, visit: www.williamsf1.com
- Contact Information
- Georgina Boyd
- Philips Shavers Global Public Relations
- Royal Philips Electronics of the Netherlands
- Contact via E-mail
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