LVMH Moët Hennessy Louis Vuitton has announced a landmark 10-year partnership with Formula 1. The partnership will begin with the 2025 Melbourne Grand Prix.
This partnership follows LVMH‘s sponsorship of the Paris 2024 Olympic and Paralympic Games and underlines the company’s strategy to strengthen its presence in global sport. Despite a temporary dip in profits due to increased sponsorship spending, LVMH remains confident in the long-term benefits of these high-profile partnerships.
Industry insiders estimate the value of the deal at close to $100 million annually, although official figures have not been disclosed. With this partnership, LVMH is replacing Rolex, which has been the global partner and official timepiece of Formula 1 since 2013.
Bernard Arnault, chairman and CEO of LVMH, highlighted the synergies between the two entities: “The people, the quest for excellence and the passion for innovation are at the heart of the activity of our Maisons and Formula 1. In motorsport as in fashion, watchmaking or wines and spirits, every detail counts on the path to success. 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.”
The partnership comes at a time when Formula 1’s popularity is soaring, especially among younger audiences. Greg Maffei, President and CEO of Liberty Media, was enthusiastic about the deal’s potential to enhance Formula 1’s commercial operations. He said: “LVMH and Formula 1 are two global brands that consistently push the boundaries of creativity and innovation, values core to Liberty Media. We were thrilled to work with one of the LVMH Maisons during the Las Vegas Grand Prix last year, and to now expand our relationship with the Group as they become a Global Partner. 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. We look forward to working with Bernard and Frédéric Arnault in the years to come.”
Frédéric Arnault, CEO of LVMH Watches, underlined the alignment of values between LVMH and Formula 1. “In recent years, Formula 1 has truly become one of the most desirable sports in the world. 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. 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,” he explained.
Stefano Domenicali, President and CEO of Formula 1, continued: “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. 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. This is a landmark partnership for both companies, and I would like to thank Bernard and Frédéric Arnault for their vision and commitment to bring this to life.”
Several LVMH brands, including Louis Vuitton, Tag Heuer and Moët & Chandon, are expected to feature prominently on race weekends. The partnership will also extend to Formula 1’s 75th anniversary celebrations, which may include LVMH’s renowned portfolio of wines and spirits.
Tag Heuer’s return to a prominent role in Formula 1 echoes its previous tenure as the sport’s official timekeeper from 1992 to 2003. The brand’s rich history in motorsport includes partnerships with iconic teams such as Ferrari, McLaren and Red Bull Racing.
Moët & Chandon, another LVMH brand with deep roots in Formula 1, has been part of the celebrations since the sport’s inception in 1950.
LVMH‘s commitment to sustainability also played a key role in the partnership discussions. Frédéric Arnault revealed that Formula 1’s goal of becoming carbon neutral by 2030 was a key factor in their decision to work together.
