Last Updated on October 3 2024, 1:44 pm
A new timekeeper and new champagne: F1’s billion-dollar deal with LVMH – Formula One has secured a likely billion-dollar deal with French luxury giant LVMH, marking a significant shift in the sport’s partnership landscape. The multi-year, decade-long deal will see LVMH’s brands play a prominent role in the Formula One World Championship, with reports suggesting the investment could reach as much as one billion euros.
This monumental partnership will bring some of the world’s most prestigious luxury brands under the LVMH umbrella, including Louis Vuitton, Moet & Chandon and Hublot, enhancing the sport’s opulence and global appeal.
LVMH Moet Hennessy Louis Vuitton SE, often abbreviated as LVMH, is a powerhouse in the luxury industry, with a portfolio of high-end brands that extends beyond fashion and watches to champagne and even media, such as the prestigious French newspaper *Le Parisien*.
By entering Formula 1, the group is consolidating its position as a global leader in luxury goods and aligning itself with a sport that has long been associated with glamour, speed and exclusivity.
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TAG Heuer to replace Rolex as official timekeeper
The most visible change in this collaboration will be the introduction of TAG Heuer, another LVMH brand, as Formula One’s new Official Timekeeper. This marks the end of a 12-year partnership with Rolex, which has been the official timepiece of Formula 1 since 2013. TAG Heuer is no stranger to the sport, however.
The Swiss watchmaker has been involved with F1 for decades, including previous partnerships with Red Bull Racing and sponsorship of the Monaco Grand Prix.
The change signals a return to the forefront for TAG Heuer, which has deep historical ties to the sport and a reputation for precision timing in motorsport.
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The end of Rolex’s reign
Rolex’s departure marks the end of a relationship that dates back to the 1960s, when the luxury watch brand first became associated with Formula One through its partnership with legendary driver Sir Jackie Stewart. Known for his advocacy of driver safety, Stewart’s association with Rolex symbolised the brand’s commitment to precision and endurance.
In 2013, Rolex cemented its status in the sport by becoming the Official Timepiece and Global Partner of Formula One, playing a pivotal role in key events such as the season opener and title sponsorship of the Australian and Belgian Grands Prix.
Despite this transition, Rolex remains active in the wider world of motorsport, continuing its sponsorship of iconic races such as the 24 Hours of Le Mans and the 12 Hours of Sebring as part of the FIA World Endurance Championship.
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Moet & Chandon’s possible return to the podium
In addition to the timekeeping change, LVMH’s champagne brand Moet & Chandon could also make a return to the Formula One winners’ podium.
The French champagne house has a rich history with the sport, having been the official champagne of the race winners for a total of 35 years since 1966. The honour is currently held by Ferrari Trento, an Italian sparkling wine brand, which has extended its contract until 2025.
However, there is speculation that Moet & Chandon could regain its place as the drink of choice for F1 champions from 2026, reinforcing LVMH’s dominance in the sport’s luxury goods sector.
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Formula 1’s reaction to the partnership
Formula One CEO Stefano Domenicali has hailed the deal with LVMH as a “historic partnership” and emphasised how it fits with the sport’s global growth strategy. Domenicali said: “Formula 1 is continuing its global expansion, attracting new and more diverse audiences. LVMH, with its strong and diverse portfolio, is the perfect partner to enhance the fan experience and bring added value to our sport.
For Formula 1, this partnership with LVMH marks a new chapter in its commercial strategy and reflects the sport’s ongoing efforts to attract new audiences while maintaining its association with luxury and innovation.
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LVMH’s ambitions in Formula 1
For LVMH, this move into Formula 1 is the latest in a series of high-profile investments in global sport. The group has already established partnerships with the Olympic Games, the Paralympic Games, the FIFA World Cup, the NFL and the Premier League. Formula 1 is a logical next step for the group, bringing together its portfolio of high-end products with the cutting-edge world of motorsport.
LVMH CEO Bernard Arnault expressed his enthusiasm for the partnership: “In Formula 1 and for our brands, it’s all about people, the pursuit of perfection and a passion for innovation.
“In motorsport, as in fashion, watchmaking and even winemaking, every detail counts to ensure success in the end”.
This claimed alignment of values – precision, innovation and attention to detail – underlines the apparent fit between LVMH and Formula 1, both of which appeal to an elite global audience.
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The future of Formula 1 and LVMH
As the partnership between Formula 1 and LVMH develops over the next decade, the luxury group’s presence is likely to extend far beyond timing and champagne. With brands such as Louis Vuitton and Hublot also in its portfolio, LVMH has the potential to shape many aspects of the sport’s branding and fan engagement.
The deal reflects the wider commercialisation of Formula One as it continues to expand its appeal in global markets, particularly among luxury consumers and younger, tech-savvy fans.
For both Formula 1 and LVMH, this partnership represents the union of two global forces in their respective industries – luxury goods and motorsport. Together, they will elevate the Formula 1 experience, creating a blend of high performance, innovation and luxury that will undoubtedly captivate audiences around the world.
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