Geox and Dragon ink strategic alliance, renaming the Formula E race team
Geox, the techy Italian footwear giant, and Dragon, the Formula E team owned by media investor Jay Penske, have signed a strategic long-term agreement that will result in the race car changing its name.
Dragon will now be called Geox Dragon, as the north Italian footwear brand becomes the race team’s title partner. As part of the deal, Geox will provide both high-performance footwear and outerwear to the team’s Formula E pilots.
Geox revolutionized footwear and sneakers by developing a high-tech membrane in the soles of its shoes, reducing heat and humidity, as well as increasing comfort. Geox Dragon drivers will compete across five continents in a wide range of urban climates in an optimum temperature range. The 13-race season starts in Saudi Arabia on December 15; and includes races in Marrakesh, Mexico city, Rome, Paris and Berlin, before climaxing in New York on July 14, 2019.
“We are very proud and excited about Geox joining Dragon Formula E team as title partner for the seasons to come. Geox has always been synonymous with the most advanced patent technologies in footwear and apparel, designed to provide superior breathability, performances, and comfort. The extreme conditions and requirements of Formula E motor racing will, therefore, represent the best testing ground for Geox to experiment new breathing and performance-oriented technologies, to be eventually translated into wellbeing for everyday use products,” said Geox President and Founder Mario Moretti Polegato.
Geox Dragon’s pilots for next season include three-time World Touring Car Driver’s Champion and multiple FIA Formula E podium finisher José María López.
Moretti Polegato added that his Venetian marque also regards the partnership as part of its commitment to sustainability and respect for the environment, “cornerstone founding values of Geox.”
Dragon was founded in 2007 by Jay Penske, following several successful years competing in IndyCar. Dragon was a founding team in the ABB FIA Formula E Championship, and is headquartered in Los Angeles, California – the largest single metropolitan EV (electric vehicle) market in the world. The Penske team finished runner-up in the inaugural 2014/2015 Formula E season, and fourth the following year.
Added Team Principal Penske: “We are extremely excited to align ourselves with Geox. With over 60 technological patents and a clear focus on sustainability, there are powerful synergies between Geox and Dragon. We have a unique opportunity to improve the performance and comfort of our team while also raising awareness for Geox’s ongoing work in sustainable innovation.”
Penske, a New York-born entrepreneur is a highly active investor in digital publishing, and controls the “bibles” of two major creative industries, Variety for film and Women’s Wear Daily for fashion.
Geox is a major world player in the global lifestyle-casual footwear market. Geox was born in Italy but over 70% of group sales come from foreign markets, retailing in a giant international network of some 10,000 multi-brand stores and 1,095 monobrand stores.
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