Beiersdorf AG (BEI)’s Aquaphor skin care lotion “will be the new title sponsor of the New York City Triathlon as part of a three-year agreement with the sport’s most expensive Olympic-distance race,” according to Michael Buteau of BLOOMBERG NEWS. Korff Enterpises Inc. has staged the race since ’01, and company President John Korff said that the new title sponsorship "will help offset about $1.8 million in annual costs to stage the race.” That price rose about $250,000 this year “to pay for staging costs, including service charges by the city’s police and parks departments.” The city covered those fees in previous years. Aquaphor Dir of Marketing Magnus Jonsson said that the company will use the N.Y. race "as a testing ground for possible sponsorship of other triathlons.” Korff said that the title sponsorship “includes an option for a three-year renewal after 2014.” Aquaphor will “also sponsor boxer Laila Ali, daughter of Muhammad Ali, as she trains and competes in the event.” The event’s previous title sponsor, Nautica Enterprises Inc., “chose not to renew its sponsorship after the 2011 race” (BLOOMBERG NEWS, 5/11). Korff said that Aquaphor is "paying more than the previous sponsor, Nautica.” Korff: “The product is very relevant if you’re a runner, a biker or a swimmer”
(CRAINSNEWYORK.com, 5/11). Leverage Agency, N.Y., brokered the deal between Beiersdorf and Korff (THE DAILY).
