- Formula 1 and LVMH have officially announced a decade-long partnership.
- “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 & CEO Bernard Arnault.
- Relevant brands within the luxury giant’s stable include Louis Vuitton, Moet Hennessy, and existing Red Bull Racing sponsor TAG Heuer.
Formula 1 isn’t a sport where secrets can ever truly stay buried. At least not for long.
Months before the crossed Ts and dotted Is, there were rumblings the Liberty Media-owned organisation was negotiating a US$150 million annual partnership with luxury giant LVMH — to replace Rolex as the official timekeeper.
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But apparently, the scope of said partnership was far broader than initially speculated.
While both the financials and practical dimensions of this agreement have yet to be disclosed, the newly-inked union between Formula 1 and LVMH will also encompass “hospitality, bespoke activations, limited editions, and outstanding content.”
In other words, aside from those killer Louis Vuitton trunks housing the Monaco Grand Prix trophies; the presence of incredibly chic paddock fits; and the prospect of TAG Heuer clocks in place of the ol’ Coronet (pending confirmation); we may very well be seeing F1 race winners spray Moet & Chandon, Veuve Clicquot, Dom Perignon, or even Krug on the podium — instead of the less well-known Ferrari Trento bubbles they’ve been making do with. Maybe. We think.
Of course, this isn’t an occasion for clarity. This is one for public victory laps and press release platitudes, like so…
“At the crossroads of the LVMH Group’s values of creativity and excellence with Formula 1’s innovation and high performance, the partnership will bring together the best of these two worlds and provide unparalleled experiences combining thrilling sport and elegant art-de-vivre, wheel-to-wheel racing, and time-tested craftsmanship, for enthusiasts, fans, and clients,” the two entities noted in a joint statement.
“From the birth of Formula 1, in 1950 through to the modern day, LVMH and its Maisons have been a part of the sport. With this new partnership both Formula 1 and LVMH are excited to write new chapters of this incredible story, with each Maison involved bringing its unique expertise, heritage, and energy to heighten the collaboration.”
Bernard Arnault, LVMH Group’s Chairman & CEO, 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.”
“In motorsport as in fashion, watchmaking or wines and spirits, every detail counts on the path to success.”
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“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.”
For the time being, however, despite the seismic nature of this 10-year deal, there are still several question marks hovering above the undoubtedly eyewatering contract (some have already assigned a $1 billion valuation to it). We’ll simply have to wait until 2025 for the specifics.
