Lindt extends Federer sponsorship
Sports stars and chocolatiers might not sound like an obvious match, but Roger Federer’s latest sponsorship deal – courtesy of luxury confectioner Lindt & Sprüngli – makes a lot of sense. They’re both Swiss; they’re both well established (Federer might only be 36 – a little younger than Lindt’s 172 years – but that’s ancient by tennis standards); and they’re both famous for their balls. More importantly, something must be working: Lindt’s been sponsoring Federer since 2009, and this latest extension is rumoured to be netting its brand ambassador around $20 million.
Lindt’s had a strong thirty days: up 3%
SOURCE: Yahoo Finance
Lindt is by no means unique in sponsoring Federer. The granddaddy of the Grand Slam makes more from product endorsements than any other athlete currently active, netting in excess of $50 million a year. And while some of the names that sponsor him are pretty unsurprising (Nike, Wilson) he’s also been a brand ambassador for luxury companies like Rolex for more than a decade. That definitely sounds like the kind of company Lindt should be keeping.
Tennis itself is a relatively high-end sport, known for sophistication and sportsmanship rather than post-game rowdiness and broken noses. It’s also massively popular worldwide, meaning that the right player can get a lot of attention. Federer is, undoubtedly, the right player.
With 15 years at the pinnacle of his sport, Federer’s run will go down in tennis history as an incredible achievement. Perhaps most surprising of all is what a fantastic 2017 he had. After an unfortunate injury sidelined him for the second half of last year, Federer emerged in 2017 to have the best year of his professional career since 2007. He won 91% of his matches and two Grand Slam titles, including Wimbledon.
Speaking about his success this year, Federer told Swiss publication SRF: “I currently intend to continue to play for a longer period, hopefully for a few more years. It’s been a massive year – perhaps my favorite.” That’s great news for tennis fans, and great news, it turns out, for chocolatiers.
Dominion holds Lindt in its Global Trends Managed Fund.
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