Sherwin-Williams now 'Official Paint of NASCAR'
May 13, 2013, Official NASCAR Release, NASCAR.com
DAYTONA BEACH, Fla. -- NASCAR and Sherwin-Williams today announced a multi-year partnership designating the nation’s largest specialty retailer of paint and painting supplies as the ”Official Paint of NASCAR.” Sherwin-Williams, a FORTUNE 500 company, will leverage its new designation for architectural paint and the power of NASCAR’s intellectual property to activate at its more than 3,500 stores nationwide and ignite the passion of its customers -- many of whom are fiercely brand-loyal fans of the sport.
In addition to signing on as an Official NASCAR Partner, Sherwin-Williams also becomes a Contingency Sponsor in the NASCAR Sprint Cup Series, NASCAR Touring & Weekly Series and GRAND-AM Road Racing. The NASCAR and GRAND-AM contingency programs foster strong relationships between competitors and the high-quality, performance-driven brands that are part of the program, by providing prize money for each race and at the end of each racing season. Competitors become eligible for the money by displaying partner decals on their race vehicles. As part of the contingency program, Sherwin-Williams will be title sponsor of the Fastest Lap Award in the NASCAR Sprint Cup Series.
“The Sherwin-Williams Company is thrilled to be the ‘Official Paint of NASCAR.’ We have invested in the sport at the team level since 2000, sponsoring about 85% of the teams in the NASCAR Sprint Cup Series,” said Chris Connor, chairman and chief executive officer, The Sherwin-Williams Company. “With more than 3,500 stores nationwide, this comprehensive Official Partnership will enable us to connect with our wide customer base across the country and to truly partner with NASCAR at every track.”
As part of this integrated partnership, Sherwin-Williams joins the NASCAR Fuel for Business Council®, which brings together an exclusive group of more than 60 Official NASCAR Partners four times per year to buy and sell products and services from one another. This exclusive business-to-business environment offers unique opportunities for many Fortune 500 companies to bypass the time and layers of corporate coordination that may exist to construct customized deals that help address specific business needs.
“Sherwin-Williams is a category leader and innovative marketer that we’re proud to add to our family of Official NASCAR Partners,” said Jim O’Connell, NASCAR chief sales officer. “Joining dozens of other blue-chip brands with official status, the company has a rich history in NASCAR and understands how to utilize our sport to drive its business.”
Research from a 2012 Fan Engagement study commissioned by NASCAR and conducted by Toluna shows that nearly half of all NASCAR fans agree that when they see a company using the tagline of “Official Sponsor of NASCAR” in its advertising, they are more likely to consider purchasing its products or services.
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