A new major sponsor! The French global luxury giant LVMH (owner of Parisien – Today in France), announced this Wednesday that it would become a “global partner” of Formula 1 from 2025, the year of the 75th anniversary of the discipline.
This is an agreement for a period of ten years “in which several emblematic LVMH Houses will be involved: Louis Vuitton, Moët Hennessy and TAG Heuer”, specify the group and F1 in a joint press release. Although the amount of the deal has not been revealed, according to our information it would approach 100 million euros per year over this ten-year period.
“LVMH and Formula 1 are two global brands that constantly push the boundaries of creativity and innovation, values Liberty Media holds dear,” said Greg Maffei, chairman and CEO of Liberty Media, which owns Formula 1. The collaboration with one of the LVMH houses during the Las Vegas Grand Prix last year won us over, and that is why we wanted to extend our relationship today. »
“One of the most attractive sports in the world”
“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,” says Bernard Arnault, Chairman and CEO of the LVMH group. 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 commitment is in line with numerous partnerships forged in the world of sport in recent years. In July 2023, a year before the Olympic Games, LVMH became a premium partner of Paris 2024. The world leader in luxury also became a sponsor of numerous athletes who shone this summer during the Olympic and Paralympic Games, like the swimmer Léon Marchand, quadruple gold medalist, rugby player Antoine Dupont, crowned with the French rugby sevens team, or paracyclist Marie Patouillet, Paralympic track champion.
“In recent years, Formula 1 has become one of the most attractive sports in the world,” says Frédéric Arnault, chairman and CEO of LVMH’s watch division. It is an incredibly dynamic discipline that integrates values that are dear to us, such as innovation, team spirit and performance. For many years, several of our Houses have been involved in Formula 1, whether to create unique experiences or to accompany celebratory highlights. Drawing on their expertise and that of our Group, we wish to strengthen this experiential dimension that Formula 1 offers throughout the world. »
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