Italian sportscar maker Ferrari on Sunday said that its racing division has renewed a partnership with German sports goods maker Puma.

Scuderia Ferrari has renewed its multi-year partnership with Puma, which will become its premium partner starting from next year, the company said, without mentioning the deal's value.

"In the next years PUMA will also continue to be the licensing partner for Ferrari-branded products and the supplier of F1 team and race wear for Ferrari," it added.

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The renewal of the partnership reinforces collaboration between the two companies which started in 2005 when Puma agreed to provide Ferrari's Formula One team with sportswear, shoes and accessories.