After 2024, Dutch retailer Jumbo will no longer be the main sponsor of the eponymous cycling and speedskating teams. Facing major challenges, the supermarket chain is reviewing its sponsorship policy.
“Looking at positioning”
At the end of 2024, Jumbo will stop being the main sponsor of the successful cycling team Jumbo-Visma. The Dutch food retailer is also pulling out of speedskating as a main sponsor, Dutch national broadcaster NOS reports citing internal sources. The supermarket chain already communicated the decision to the teams involved at the end of last year.
“Right now we are looking at our positioning”, a spokesperson for the chain confirmed to NOS. “In doing so, we are also looking at whether our sponsorship policy still matches our vision and ambitions as well as the needs of our customers.” It is possible that the company will continue in sport, but not as main sponsor.
Jumbo’s decision does not come as a big surprise: the supermarket chain is going through a difficult period. Last year, CEO Frits van Eerd – himself a big sports fan – had to step aside because he is suspected in a fraud case regarding motor race sponsoring. His father Karel van Eerd died in December.
Jumbo is not doing well in business either: expansion into Belgium is more difficult than expected and is costing the retailer a lot of money. In the Dutch home market, market share is under pressure. In 2022, the supermarket group had a net profit of barely 80 million euro on sales of more than ten billion. New CEO Ton van Veen, former chief financial officer of the company, will now have to set a clear course towards a more viable future.