The world number one luxury brand is committed to the next ten years. The contract amounts have not been revealed but they promise to be staggering. This is the second time that LVMH (Louis-Vuitton, Tag Heuer, Moët Hennessy, etc.) has signed a sports partnership in its own name.
:quality(50)/2023/07/06/64a68815cd1a7_placeholder-36b69ec8.png)
Published
Updated
Reading time: 1 min
:quality(50)/2024/10/02/075-bonilla-f1grandp240922-npmal-66fd8652acd44666251529.jpg)
The world number one luxury brand LVMH jointly announced with Formula 1 a global partnership from 2025 for a period of ten years, Wednesday October 2. The group will spend hundreds of millions of dollars in the operation, after having been one of the main partners of the Paris 2024 Olympic and Paralympic Games. The group of French billionaire Bernard Arnault thus joins sponsors like DHL in Formula 1 , Heineken, MSC Cruises, Pirelli and Qatar Airways.
Ace @F1® prepares to celebrate its 75th anniversary in 2025, LVMH will become a Global Partner from 2025 in a new 10-year agreement.
Learn More: https://t.co/8CGiGS8YaI#LVMH #Formula1 #LVMHxFormula1 pic.twitter.com/BLrq1MLKuk
— LVMH (@LVMH) October 2, 2024
The presence of the luxury giant, owner in particular of the Louis Vuitton brand and numerous wines and spirits, will be seen “through hospitality, tailor-made activations, limited editions and exclusive content”according to the press release. Details will be revealed in early 2025, the document said. The exact amount of the contract, in particular, has not yet been revealed, but it could reach between 100 and 150 million dollars, according to sources cited in various media.
“The collaboration with one of the LVMH houses [Moët Hennessy] during the Las Vegas Grand Prix last year won us over, and that is why today we wanted to extend our relationship with the group which becomes a global partner”declares Greg Maffei, CEO of Liberty Media, owner of the Formula 1 franchise, quoted in the press release. “In motorsport as in our industry, from fashion to watchmaking, every detail counts on the path to success”according to Bernard Arnault, CEO of LVMH, also cited in the press release.
If the group’s brands (Louis Vuitton, Tiffany, Tag Heuer, etc.) are already present in sports competitions, this is only the second time, with the Paris 2024 Olympic and Paralympic Games, that LVMH has signed a sports partnership in his own name.