Last update on: 1:02 pm October 7, 2024 by fashionabc
Formula 1 inks a historic ten-year global partnership with French luxury goods company LVMH to mark its 75th anniversary in 2025. Amongst the LVMH-owned brands involved in this alliance include Louis Vuitton, Moët Hennessy, and TAG Heuer.
Formula 1 inks a ten-year global partnership with LVMH to mark its 75th anniversary in 2025.
Formula 1 is the premier motor sport discipline with a tailor-made fan base, a coveted demographic for many brands. Every Formula 1 season is a physical and technological adventure that keeps audiences around the world on the edge of their seats. For more than 70 years, Formula 1 has stirred a passion that reaches a far greater public than just motor sport enthusiasts. With the excitement of the sport combined with the allure of luxury, the events have become a luxury signifier. This is when luxury fashion stepped in.
Following an agreement with Rolex, which made the watchmaker a Global Partner and the Official Timepiece of the Formula 1 World Championship since 2013, Formula 1 has now signed an unprecedented agreement with LVMH. At the crossroads of the LVMH Group’s values of creativity and excellence with Formula 1’s high-performance, this historic ten-year global partnership will provide an exciting combination of thrilling sport and time-honoured craftsmanship. What’s more, LVMH will share their exceptional savoir-faire and entrepreneurial spirit with the world of Formula 1 through hospitality, bespoke activations, limited editions and content.
’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,’ said Bernard Arnault, Chairman and CEO, LVMH Group. ’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.’
Since the inception of Formula 1 in 1950, LVMH has been an intrinsic part of the sport, showcasing the same passion, precision, and innovation that define racing excellence. Now, with this groundbreaking partnership, Formula 1 and LVMH are poised to craft a new chapter together. Each Maison will bring its distinct heritage, unparalleled expertise, and dynamic energy to elevate this collaboration to new heights. More details about this prestigious partnership will be unveiled in early 2025.
“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,’ said Stefano Domenicali, President and CEO, Formula 1. “As Formula 1 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.”
LVMH’s synergy with sport is far from new. Astride the partnership between LVMH and Paris 2024, the luxury powerhouse has collaborated with athletes such as Rafael Nadal, Cristiano Ronaldo, Roger Federer, and Lionel Messi. Moreover, LVMH extends its support to Paralympic sports, working with exceptional athletes like Pauline Déroulède, Timothée Adolphe, and Marie Patouillet, underscoring its commitment to excellence across all arenas.
“In recent years, Formula 1 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, LVMH Watches. “For many years, several of our Maisons have also chosen to invest in Formula 1, 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 1 provides all over the world…”
And, the future looks bright. Beginning next year, LVMH will leverage the global resurgence of Formula One with the ten-year sponsorship deal that will put LVMH-owned luxury brands front and centre of motor racing’s premier global events.
Luxury in the Fast Lane: What Formula 1 and LVMH Stand to Achieve Together
The historic, ten-year partnership between LVMH and Formula 1 represents a union of two global icons.
The historic, ten-year partnership between LVMH and Formula 1 represents a union of two global icons, each renowned for excellence, innovation, and heritage in their respective fields. Formula 1, the pinnacle of motorsport, embodies speed, precision, and cutting-edge technology, while LVMH, the world’s leading luxury group, stands for timeless craftsmanship, creativity, and elegance. Together, these two powerhouses have embarked on a collaboration that merges the worlds of high-speed thrills with unparalleled luxury. The partnership will create a synergy that reflects the shared values of both brands: performance, prestige, and the pursuit of perfection.
For LVMH, this partnership opens doors to a dynamic new audience and offers a platform to showcase its maisons in a unique, high-energy ambience. With Formula 1’s global reach, LVMH gains unparalleled visibility in key markets, including Europe, the United States, and Asia, where the sport has an enormous following. By aligning with a sport that represents cutting-edge innovation and performance, LVMH reinforces its position as a forward-thinking luxury leader. The partnership also allows LVMH to create exclusive, bespoke experiences for Formula 1 enthusiasts, linking the adrenaline of the race with the elegance of luxury craftsmanship.
Formula 1, on the other hand, stands to benefit from the prestige and cachet that LVMH brings. As the first luxury group to partner on such a scale with the sport, LVMH adds an element of glamour to the Formula 1 experience, enhancing its appeal to a discerning, high-net-worth audience. The partnership will likely result in new luxury collaborations, bespoke events, and high-profile activations that elevate the sport’s image further. This collaboration also deepens Formula 1’s appeal beyond motorsport, positioning it as a lifestyle brand that intersects with luxury, fashion, and culture.
LVMH Sees Unprecedented Surge in First Half of 2024
LVMH Moët Hennessy Louis Vuitton, the world’s leading luxury group, posted an impressive €41.7 billion in revenue for the first half of 2024. This robust performance was achieved despite a volatile geopolitical landscape and uncertain economic conditions. Key markets in Europe and the United States saw consistent growth, while Japan experienced a surge with double-digit gains. Across Asia, Chinese consumers’ increasing expenditure in Europe and Japan significantly contributed to the group’s strong results.
“The results for the first half of the year reflect LVMH’s remarkable resilience, backed by the strength of its Maisons and the responsiveness of its teams in a climate of economic and geopolitical uncertainty. Driven as ever by our dual focus on desirability and responsibility, we have continued to work towards achieving the targets set out in our environmental and social action programs,” said Bernard Arnault, Chairman and CEO of LVMH. “The Group approaches the second half of the year with confidence, and will count on the agility and talent of its teams to further strengthen its global leadership position in luxury goods…”
The first half of 2024 was marked by organic growth, although exchange rate fluctuations posed challenges, particularly affecting Fashion and Leather Goods. Despite these headwinds, LVMH saw revenue growth in Europe and the U.S., and Japan benefited from heightened spending by Chinese travellers. In the Wines and Spirits segment, the normalisation of demand that began in 2023 persisted, while the Fashion and Leather Goods division demonstrated resilience, with operating margins remaining at outstanding levels—thanks in large part to the iconic maisons Louis Vuitton and Christian Dior.
Fragrances and makeup enjoyed expansion, bolstered by the continued success of the Maisons’ flagship lines, and Watches and Jewellery saw sustained creative momentum, contributing to the overall growth. Sephora, the group’s crown jewel in beauty retail, delivered exceptional results, further cementing its status as the world leader in the sector.
Jasmeen Dugal is Associate Editor at FashionABC, contributing her insights on fashion, technology, and sustainability. She brings with herself more than two decades of editorial experience, working for national newspapers and luxury magazines in India.
Jasmeen Dugal has worked with exchange4media as a senior writer contributing articles on the country’s advertising and marketing movements, and then with Condenast India as Net Editor where she helmed Vogue India’s official website in terms of design, layout and daily content. Besides this, she is also an entrepreneur running her own luxury portal, Explosivefashion, which highlights the latest in luxury fashion and hospitality.
