Erich Stamminger, Adidas brand CEO unveiled a new sponsorship agreement with Ephraim Gerstein, in a press conference at Rockefeller Center earlier this morning. The partnership is believed to be the first in history to feature a relatively unknown private citizen, rather than a professional athlete or celebrity. Adidas did not reveal the endorsement fees paid to Gerstein at press time. The optimistic Stamminger appeared relaxed and enthusiastic to begin what many commentators believe to be an audacious marketing strategy. "To us, it was a no-brainer," declared Stamminger. "The Adidas brand stands for quality, understated style, and a tradition of overall excellence, so it was natural to want to partner with an individual who lives those values. [Gerstein's] relative anonymity might pose something of a marketing challenge, but Adidas could not pass up the opportunity to deliver such a fresh, compelling message."
CNBC commentator Phil LeBeau believes the unconventional deal holds promise for Adidas. "It's certainly a new way of doing things," said LeBeau "but I believe that this is a leading indicator that we are entering a post-celebrity era. It may be that many consumers will relate better to Ephraim than they would to a celebrity. After all, most consumers are not famous. I think Adidas is betting that a young, upscale target audience would look at Ephraim and say 'here's a guy just like me, someone I can trust.' He's wholesome. Trendy, but not excessively so. Someone you could aspire to be, but within reach."
Though Adidas kept most of the deal's details under wraps, Stamminger said that Gerstein will not have to throw away his Chuck Taylors. "We don't consider those to be a competing product," said Stamminger.
