Luxury conglomerate LVMH recently signed a 10-year sponsorship deal with Formula One (F1), a partnership that the racing organizers previously shared with Rolex.
Since 2013, the prestigious watch brand Rolex has stood as a prominent sponsor of the popular Formula One (F1) races. However, after months of hearsay that a new sponsor would be taking its place, F1’s organizers recently confirmed that they have signed a 10-year sponsorship deal with none other than LVMH (Louis Vuitton Moët Hennessy), one of the world’s largest luxury conglomerates under French billionaire Bernard Arnault.
“The new 10-year deal will include several of LVMH’s iconic Maisons, including Louis Vuitton, Moët Hennessy and TAG Heuer,” writes F1 in a press statement. The release also notes that further details concerning the partnership will be released in early 2025.
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A Long Term Partnership—But Not The First
While the new sponsorship deal marks a historic milestone for both LVMH and F1, it is not the first time they have collaborated. As Jake Piazza of CNBC reports, one of the luxury conglomerate’s brands happened to work with F1 in its 2024 Las Vegas Grand Prix.
“For many years, several of our Maisons have also chosen to invest in Formula One, whether to create unique experiences or for moments of celebration,” explained Frédéric Arnault, CEO of LVMH Watches. “With our Maisons and the expertise of our Group, we want to further grow this experiential dimension that Formula 1 provides all over the world. We are only at the very beginning of this partnership, but the seasons that await us promise to be extraordinary.”
Frédéric’s father Bernard, LVMH’s chairman and CEO, said in a statement about the sponsorship: “The people, the quest for excellence and the passion for innovation are at the heart of the activity of our Maisons and Formula One. In motorsport as in fashion, watchmaking or wines and spirits, every detail counts on the path to success.”
“Our sport is founded on the relentless pursuit of excellence, a value that also lies at the heart of LVMH, so I am delighted to announce this historic partnership will begin in 2025,” added Stefano Domenicali, president and CEO of F1.
American company Liberty Media currently owns the commercial rights of F1 after it purchased them from owner Bernie Ecclestone in 2016.
LVMH Continues To Dominate The Sporting World
The LVMH and F1 sponsorship deal is only the latest of the luxury conglomerate’s endeavor to tap into a larger market and cement its reputation as a leading name, especially in regard to sports. Earlier this year, it was also a major partner for the Paris Olympics, its presence seen in every little detail from player uniforms to the games’ medals. With its new decade-long deal, it seems like LVMH and its brands will continue to dominate the world’s major sporting events.
Photos from the Formula One website (unless stated).
