new global partner of Formula 1

(Boursier.com) — LVMH becomes global partner of Formula 1. From 2025, several emblematic houses of the luxury giant will be involved in this 10-year agreement: Louis Vuitton, Moët Hennessy and TAG Heuer. At a time when Formula 1 is establishing itself as a true cultural phenomenon, at the crossroads of sport and entertainment, arousing general enthusiasm, this unprecedented agreement between the world leader in luxury and the queen discipline of motorsport will be launched in start of next season, specifies LVMH. “LVMH and its teams will put their exceptional know-how and entrepreneurial spirit at the service of Formula 1 through hospitality, tailor-made activations, limited editions and exclusive content,” adds the group.

Bernard Arnault, CEO of the LVMH group, declared: “the quest for excellence and the passion for innovation, driven by our employees, are at the heart of the DNA of our Houses and of Formula 1. In motorsport as in our industry, from fashion to watchmaking, every detail counts on the path to success All over the world, in our workshops and on the circuits, it is this desire to relentlessly push the limits that. inspires our vision. This is the meaning we want to give to this fantastic partnership between LVMH and Formula1?

While no financial details were released, people familiar with the negotiations cited by ‘Bloomberg News’ believe the deal could be worth more than $1 billion over the life of the contract. This partnership also marks a major blow for the major Swiss brand Rolex, official sponsor of Formula 1 timing since 2013.