Luxury brands such as Louis Vuitton and Moet will be present on the Formula 1 grid from next year after Liberty Media agreed a 10-year global partnership with LVMH which could be worth a reported $1billion.
The deal will start from the 2025 season onwards and includes LVMH brands becoming involved in hospitality, activations and limited editions, adding to the presence the company already has within F1.
Watch brand TAG Heuer will replace Rolex as the sport’s official timekeeping partner in a move that ends a 12-year association with the Swiss company and also does not affect TAG’s ongoing agreement with Red Bull or the Monaco Grand Prix.
The relationship between F1 and the LVMH conglomerate flourished last year as the company’s Moet Hennessy brand sponsored the Las Vegas Grand Prix in 2023, a race promoted by F1 owners Liberty themselves.
“LVMH and Formula 1 are two global brands that consistently push the boundaries of creativity and innovation, values core to Liberty Media,” said Liberty president Greg Maffei.
“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.”
Moet & Chandon was previously the champagne sprayed during F1 podium celebrations at the majority of races and is likely to return as part of the new deal, although it is unclear where other luxury brands under the LVMH umbrella – such as Louis Vuitton – will fit in.
In announcing the deal, F1 confirmed such details would be confirmed in the new year as president Stefano Domenicali hailed a “landmark” partnership between the two brands.
“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,” he said.
“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.”
With claims the annual fee for having a plethora of sponsors on board will come in at the $100million mark, the deal would be worth a potential 11-figure sum for Formula 1.
The move is the latest venture into sport for LVMH, who also have sponsorship deals with the Olympics, Paralympics, Premier League, FIFA World Cup and the NFL.
Bernard Arnault, Chairman and CEO, LVMH Group, added: “The people, the quest for excellence and the passion for innovation are at the heart of the activity of our Maisons and Formula 1,” said LVMH Group chairman Bernard Arnault.
“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.”
