With view to tap mass-market sports segment, the Italian luxury house, Dolce & Gabbana, have signed a sponsorship with a boxing team. If you thought luxury brands entering into sports was little unheard of, let me update you Fashion figure Giorgio Armani is also sponsoring Milan’s basketball team to market his jeans collection.
The boxing team here is Milano Thunder team which includes some impressive names like Italian Olympic medallist Clemente Russo. This team will first appear in the World Series of Boxing, an international boxing event scheduled to begin in November.
The trend of luxury brands partnering with sports was also evidenced in the Puma acquisition by PPR. This was in line with their strategy to increase their footage in lifestyle and outdoor sector through a new sports division. Dolce & Gabbana took this step to nullify effects of financial crisis which was evidenced in their low figures of sales as against previous years. The fashion house also made Barcelona and Argentina forward Messi their new brand ambassador.
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