Cazoo has secured a sponsorship deal with Spanish LaLiga football club Real Sociedad as its strategy to drive car sales growth through profile continues in mainland Europe.
The online car retail platform, which already sponsors Premier League clubs Aston Villa and Everton, is in the process of launching into the Spanish market following its recent launches in both France and Germany and its acquisition of Barcelona-based Swipcar.
Its sponsorship of Real Sociedad will start from the start of next season and includes branding on the front of the team’s shirts, throughout the club’s Reale Arena stadium and on all official club merchandise.
Cazoo founder and chief executive, Alex Chesterman, said: “We are very excited to be partnering with Real Sociedad.
“Just like us, they are a very ambitious club driven by results and have a passionate following and fan base across Spain and we are looking forward to engaging with the fans and local community and delivering the best car buying experience in Spain in 2022.”
Real Sociedad are currently in 7th place in LaLiga – Spain’s top flight.
Last month AM reported that a share price slump had seen the value of online car retailer Cazoo halve since its August listing on the New York Stock Exchange.
The automotive retail disruptor – profiled by AM back in 2020 – initially floated for $7 billion four months ago, with a launch price of $10, but the value of the business has now slumped to $3.12bn (£2.3bn) after shares declined to a trading price of $4.15.
Today, that price stands at $4.07.
Founder Alex Chesterman is understood to believe that the downward movement is in-line with other businesses inhabiting the online car retail space alongside Cazoo.
In the US, Carvana share prices dipped to a low of $138.9 on January 29, from a 2021 high of $371.7, while Vroom has declined from $50.93 in February last year to just $7.04 today.
Cazoo’s growth trajectory appears to show no sign of slowing, however.
In December it vowed to grow its car inventory in Europe after launching in France and Germany.
A month earlier AM reported on its entry into the commercial vehicle space in the UK through the £6.5m acquisition of online commercial vehicles retailer Van365.
After successfully bringing its car preparation services in house in 2021 - after initially relying on a relationship with BCA - Cazoo has also struck up a vehicle disposal agreement with Ogilvie Fleet, gaining access to more than 18,000 vehicles at the end of contract.