International Speedway Corp. is creating a new brand — Daytona Elite, named after its signature speedway — that the company plans to license to automotive aftermarket products.
Items bearing the Daytona Elite brand are expected to be on store shelves by the first quarter of next year, possibly earlier, ISC officials said.
The company said it is negotiating with manufacturers and it is still several weeks from identifying its first licensed product.
It is more likely to be something that goes in the car, such as a motor oil or a fuel additive, as opposed to something on the car. Depending on the success of the program, ISC could branch out into other automotive products that go beyond the performance of the car.
“We've dabbled with some licensing opportunities in the past, but this is the first time we've created a brand with an entire marketing platform behind it,” said Daryl Wolfe, ISC's chief marketing officer. “Once we have a solid foundation of two, three, four, five partners, we'll determine how far we want to take this.
“When you look at Daytona, it's one of the most recognised brands in motorsports, and then you can look outside motorsports across all of sports and the automotive category. Based on that equity and the brand attributes of speed, performance, winning, tradition, we thought this was a logical brand extension.”
Wolfe said Daytona's track assets will be part of the platform, whether it's in the shape of hospitality for retailers, tickets or even promotional rights to market the new product.
“This marketplace is very, very competitive, so anything we can do to offer a point of difference is important,” Wolfe said. “You look at ISC's breadth of assets, from everything at-track to hospitality, signage, intellectual property, licensed media, it all offers a turnkey platform for the right alliance. We have the luxury and flexibility to customise a package.”
by Michael Smith
Michael Smith is a reporter with SportsBusiness Journal