Volvo Cars has underlined its commitment to the Volvo Ocean Race as part of a radical new marketing strategy that was unveiled earlier this week.
The company has backed the race and been joint owner of offshore sailing’s leading event with Volvo Group for more than 15 years.
In its statement, Volvo Cars said it was cutting back many of its sponsorships.
“Every brand in the industry is involved in some form of sponsoring activity, mostly because it is regarded as a ‘must have’ within the marketing mix,” said the statement.
“Volvo Cars questions that logic and has decided to wind down most of its sponsoring activities.
“Instead Volvo Cars will increase its commitment and investment in the Volvo Ocean Race. Rather than just another sponsoring activity, it sees the Volvo Ocean Race as purely Volvo. It is the most competitive, fair and pure blend of people with nature.”
Volvo Ocean Race CEO Knut Frostad said he was delighted that the 41-year-old event, currently in its 12th edition due to finish in June next year, had such a public vote of backing.
“Volvo’s backing has been the foundation on which we’ve been able to build this race year after year,” he said.
“Without that kind of support we simply wouldn’t have been able to make probably the biggest decision we’ve taken in the race’s history – to move to the one-design Volvo Ocean 65 boat which has put the emphasis fully on the sailors on board and their skills and determination.”