Formula 1 continues its global growth, attracting new and more diverse audiences for its motorsport races. Image credit: Formula 1
LVMH will become a global partner of motorsport giant Formula 1 in a 10-year agreement that kicks off next year, plugging the missing automotive hole in the French luxury group’s repertoire.
Several LVMH’s brands including Louis Vuitton, Moët Hennessy and TAG Heuer will be involved in the partnership, which is timed to coincide with Formula 1’s 75th anniversary in 2025. Formula 1, a Liberty Media company, last year worked with LVMH during the Las Vegas Grand Prix.
“The opportunity to scale our commercial arrangements is emblematic of the vision we have for Formula 1 as the business continues to grow its platform,” said Greg Maffei, president/CEO of Liberty Media, in a statement. “We look forward to working with Bernard and [son] Frédéric Arnault in the years to come.”
The news comes soon after LVMH crowned a successful term as a key sponsor of the Paris Olympic Games this summer.
LVMH becomes F1 global partner from 2025 in a historic 10-year deal. Left to right: Stefano Domenicali, president/CEO of Formula 1; Bernard Arnault, chairman/CEO of LVMH Group; Greg Maffei, president/CEO of Liberty Media; and Frédéric Arnault, CEO of LVMH Watches. Image credit: LVMH, Formula 1
Track to growth
As part of the deal, LVMH and its teams will collaborate with Formula 1 through hospitality, bespoke activations, limited editions and outstanding content.
“In motorsport as in fashion, watchmaking or wines and spirits, every detail counts on the path to success,” LVMH chairman/CEO Bernard Arnault said in a statement.
“Both in our workshops and on circuits around the world, it is this incessant search to break boundaries that inspires our vision, and this is the meaning that we want to bring to this great and unique partnership between Formula 1 and our group,” he said.
More details of the partnership will be announced next year.
“As Formula 1 continues its global growth, attracting new and more diverse audiences, the strength and breadth of LVMH makes it the perfect partner for us to work with as we look to continually enhance the experience of our fans and the heritage of our incredible sport,” Stefano Domenicali, president/CEO of Formula 1, said in a statement.
LVMH and its brands have been a part of the sport from the birth of Formula 1 in 1950 through to current times.
LVMH is formalizing its entry into motorsports even as it consolidates its relationships in watersports, polo and other sporting activities as a sponsor or partner. Image credit: LVMH
THE NEW RELATIONSHIP with LVMH formalizes ties as Formula 1 aims to bridge global sport with entertainment, now adding luxury craftsmanship and service elements to the mix.
“In recent years, Formula 1 has truly become one of the most desirable sports in the world,” Frédéric Arnault, CEO of LVMH Watches, said in a statement. “It's a vibrant discipline that echoes a number of values that are very important to us, such as innovation, team spirit and performance.
“For many years, several of our maisons have also chosen to invest in Formula 1, whether to create unique experiences or for moments of celebration,” he said. “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.”