From next season, luxury giants such as Moet and Louis Vuitton will have a prominent presence in Formula 1. This is the result of a global 10-year agreement between LVMH and Liberty Media, with a price tag of around $1 billion. Beginning in 2025, LVMH will deepen its involvement in the sport through curated hospitality experiences, brand activations, and the release of exclusive collections.
TAG Heuer is stepping in as the official timekeeper for F1, replacing Rolex as their 12-year contract expires. This transition won't affect TAG's separate agreements with the Monaco Grand Prix or the Red Bull team. The foundation for this deal was laid last year during the 2023 Las Vegas Grand Prix, where Liberty Media worked closely with LVMH's Moet Hennessy brand to great success.
Greg Maffei, the president of Liberty, noted that LVMH and Formula 1 are both global powerhouses that thrive on pushing creative and innovative boundaries. He expressed his excitement about evolving their relationship from a single event in Las Vegas to a full-scale global partnership.
Maffei, the 61-year-old American executive, mentioned that expanding these commercial ties reflects the broader growth and vision for the F1 platform. He also looked forward to a long-term professional relationship with Frédéric and Bernard Arnault.
Fans can likely expect Moet & Chandon to return as the champagne used for podium celebrations. While the exact role of other luxury brands like Louis Vuitton remains a mystery for now, F1 president Stefano Domenicali described the deal as a 'landmark' moment and promised more details would be shared in the coming year.
Domenicali expressed his delight over the partnership starting in 2025, stating that both F1 and LVMH are driven by an obsession with excellence. He believes LVMH is the ideal partner to help F1 elevate the fan experience and honor the sport's heritage as it attracts a more diverse, global audience.
This partnership adds to LVMH's growing sports portfolio, which already includes ties to the NFL, the Premier League, the FIFA World Cup, and the Olympic and Paralympic Games. Bernard Arnault, the CEO and Chairman of LVMH, noted that the passion for innovation and the drive for perfection are common threads linking his luxury houses to Formula 1.
Arnault emphasized that whether it's in a fashion atelier, a winery, or on a race track, success depends on meticulous attention to detail. He believes the shared desire to break barriers is what makes this unique alliance between the LVMH group and Formula 1 so meaningful.