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Thu 30 Nov 2006 08:00 PM

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Philips signs Formula 1 deal

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Philips Shavers signed an agreement to increase their 2007 sponsorship commitment with the Williams F1 Team, to include on-car branding. Following a successful trial year in 2006, Philips Shavers has seen a global turnover increase of 15% 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.

Andrea Ragnetti, CEO of Philips Domestic Appliances and Personal Care and Chief Marketing Officer of 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 product innovation.”

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