NASCARhas reached a deal with Licensing & Promotions Latin America that makes thecompany its exclusive licensing agent for consumer products throughout LatinAmerica.
Thethree-year deal, now in effect, is aimed at apparel, accessories, toys and theautomotive aftermarket. Financial terms were not disclosed.
“Ultimately,it’s about exposing NASCAR to a bigger audience and growing the brand,” saidBlake Davidson, NASCAR’s managing director of licensed products. “Plus, itsupports one of our major initiatives: diversity.”
Untilnow, NASCAR’s only presence in the Latin American marketplace came via importedproducts. Davidson said Mexico City-based L&P was selected for the businessfollowing a request for proposals, with L&P one of three companiesconsidered.
L&Pcounts among its other clients Coca-Cola, McDonald’s and Unilever.
Alongwith the 14-race NASCAR Mexico Series, NASCAR has run a Busch Series raceannually in Mexico the past three years. More recently, Juan Pablo Montoyaracing with the Nextel Cup Series has made Latin America a target for NASCAR toincrease its international visibility.
Throughthe new arrangement, a deal with Pinturas Acuario for automotive paints isalready done. Ben Carter, international director of L&P, said the companyalso is working with supermarkets and department stores on products such asbackpacks, paper products and notebooks.
“There’sa real resonance; people love the excitement of the cars, of race day,” Cartersaid.
