In time for Formula 1’s 75th anniversary next year, LVMH will become a Global Partner from 2025 in a new 10-year agreement. There has been a lot of speculation within the industry on which of its brand(s) LVMH will select to put into the spotlight — with the most likely candidate being TAG Heuer — and today we learn that the luxury brands group will, in fact, be including several of its “Maisons,” including Louis Vuitton, Moët & Chandon, and TAG Heuer.
The official press release from Formula 1 and LVMH describes the deal as an “unprecedented agreement between the world leader in luxury and the pinnacle of motorsport” which will launch next season “at a time of incredible ongoing popularity (…).” Formula 1 (or F1) sponsorships are anything but a new thing for luxury watchmakers. Seven out of the ten teams on the current grid have a luxury watch sponsor, including LVMH-owned TAG Heuer with this year’s defending champion Red Bull, as well as rival watch brands such as Tudor, IWC, H. Moser & Cie., Girard-Perregaux, and Richard Mille.
LVMH becomes F1 Global Partner from 2025 in 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, Liberty Media, and Frédéric Arnault, CEO of LVMH Watches. Source: Formula1.com
The one brand to rule them all was, you guessed it, Rolex, who has been the Official Timekeeper and Global Partner of Formula 1 since 2013, having, funnily enough, taken the spotlight from TAG Heuer at the time. Since then, Rolex has been a title sponsor of numerous races every season and has had its name plastered over every single racetrack the flying circus visited — except for Monaco where TAG Heuer has managed to pose as the official watch of the grand prix.
History lesson over, what we are to look forward to is LVMH unleashing all its might over Formula 1 to push its luxury products to what is a revitalized, more involved, younger, and more global audience of the sport. Liberty Media took over Formula 1 in 2017 and since then has transformed the image of the “pinnacle of motorsport” through a more pronounced presence on YouTube, social media, as well as Netflix’s Drive to Survive.
Personal drama and rivalry has been a core element of Formula 1 ever since its very first official season commenced in 1950. Today, driver’s are often contractually obliged to spend more time in front of the camera, and much of that time they are visibly rocking a luxury watch, as well as other items such as apparel, sunglasses, and other accessories, turning them into fan-favorite billboards for brands.
Commenting on the news Stefano Domenicali, President and CEO, Formula 1, said: “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.” The funny thing is that the very same message was used to resonate with Rolex’s “perpetual quest for excellence” — which is to say that it will be down to the most talented marketing teams within LVMH and its subsidiaries to try to place their products in Formula 1 in an authentic, novel, and seamless way.
Clearly, LVMH has big plans with Formula 1, as is implied by the 10-year scope of the partnership, as well as the fact that it is already planning to move Louis Vuitton into every trophy celebration by manufacturing cases for the hardware and Moët & Chandon by having drivers splash it off the podiums. TAG Heuer is reported by the WSJ to replace Rolex as the sport’s official timekeeper.
We look forward to seeing what the mighty powerhouse of LVMH and its many capable subsidiaries will do with this promising new partnership. Until then, you can learn more at the company’s website.