Saturday, August 22, 2009

The Fastest Cat on the Planet

"We're the fastest cat on the planet", so says Puma CEO, Jochen Zeitz in talking to CNN's Jim Boulden about the company's partnership with Usain Bolt and sponsoring other athletes. Who says you don't get what you pay for? This is a great example of how Puma has tied themselves to the brand Jamaica and monetized that relationship. If only the national leaders were able to lead us in monetizing all this attention to the nation's benefit. The Financial Times on August 22 reported that, "an independent organization has estimated Mr Bolt's media value at €250m ($358m)." If he is worth that much to Puma, he is at least of similar value to Jamaica. However, the difference is Puma has products to sell, and sell they did and continue to do. The same article pointed out that Puma sold out of their "Yaam" shoe, "a lifestyle version of [Bolt's] shoes and a Jamaican sports cloth collection." The CEO made it clear that Puma is moving to incorporate more of the Jamaican lifestyle into their lines. According to him, desirability is key, and clearly Jamaica can deliver on that desirability. For the record, brand Jamaica is not the only lifestyle Puma is targeting. He made a point of speaking to how they will position the company to take advantage of, as he calls it, "the African way of life" for the World Cup in South Africa. If there still exists doubt about the rise of a new economy, rooted in culture, there could never be a better example to illustrate and connect the dots for the doubters. The dynamic of our world is changing, and if the opportunities are not grasped now, then I'm afraid we might very well be witness to history repeating itself. With ill-equipped post-holders aplenty, leadership and vision are lacking. So, as we fight one another for the power and the glory, Jah kingdom goes to waste. You can watch the full interview on CNN Video here. P.S. Check out my new Urban Yard shop, there's something there for you. If you don't see it then suggest it.
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Anonymous said...

Thanks for good stuff