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LVMH has been named the global sponsor of Formula One in a new 10-year agreement, starting from the Melbourne Grand Prix in March 2025. The partnership bridges the worlds of motorsports and fashion, as the industries become further enmeshed.
As part of the deal, LVMH brands will provide hospitality, bespoke activations and content tied to Formula One, including Louis Vuitton (which has been designing the custom trunk for the F1 trophy for the past four years), Moët Hennessy and Tag Heuer (which was the official timekeeper from 1992 to 2003).
The financial terms were not revealed and further details will be announced in early 2025. LVMH replaces Rolex, who had sponsored Formula One since 2013.
“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,” said LVMH CEO and chairman Bernard Arnault 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 One and our group.”
Fashion has fallen in love with the world’s highest racing class, fuelled by Neflix’s Formula 1: Drive to Survive show, which features Lewis Hamilton among other star drivers. The feeling is mutual. Brands including Ferrari and Red Bull’s AlphaTauri have dipped their toes into fashion, seeking to expand F1’s status to a luxury lifestyle brand franchise that spans multiple sectors.
Auto and drinks companies are among those who’d like a slice of premium fashion pie as they seek to evolve into lifestyle brands. From Ferrari to Red Bull’s AlphaTauri, we review the starting grid.
“In recent years, Formula One 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,” said Frédéric Arnault, CEO of LVMH Watches, who oversees Tag Heuer, in the statement. “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. With our maisons and the expertise of our group, we want to further grow this experiential dimension that Formula One 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.”
Sports have become a key cultural touchpoint and partner for luxury. This summer, LVMH was a major sponsor at the Paris Olympics, where Moët Chandon and Hennessy were served at VIP bars, Chaumet designed the medals for champions and Berluti designed the opening ceremony uniforms for the French Olympic team. The conglomerate has also previously partnered with the likes of Fifa, the Rugby World Cup and the Australian Open.
Luxury cars make up the biggest portion of the luxury market, reaching a record €635 billion in 2023 (up 12 per cent year-on-year), according to Bain. Together with hospitality and personal luxury goods, the three sectors account for 80 per cent of the total luxury market, per Bain.
Formula One is the second fastest-growing sport contributing to the highest earned media value (EMV) for fashion brands, up 34 per cent in 2023 year-on-year, according to Lefty. The sport has garnered a number of cross-sector sponsorships including brand activations, after-parties, hospitality and VIP dressing — a good fit given the luxury clientele who typically attend Formula One events. Luxury fashion holds nearly a quarter of F1’s earned media value across these cross-sector sponsorships, says Lefty.
“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,” says Formula One president and CEO Stefano Domenicali. “As Formula One 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.”
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