Formula 1 announced today that luxury brand group LVMH will become a Global Partner in 2025, when the sport celebrates its 75th anniversary. The new ten-year agreement will include several iconic LVMH Maisons, including Louis Vuitton, Moët Hennessy and TAG Heuer.
A statement from Formula 1 and of LVMH describes the agreement as a “unprecedented agreement between the world leader in luxury and the pinnacle of motorsport”which will launch next season “at a time of incredible popularity, cultural relevance and general excitement for Formula 1 as a bridge between global sport and entertainment”.
“At the intersection of the LVMH Group’s values of creativity and excellence with the innovation and high performance of Formula 1, the partnership will bring together the best of these two worlds and offer enthusiasts, fans and customers unrivaled experiences that combine the sport exciting and elegant art-de-vivre, wheel-to-wheel racing and time-tested craftsmanship”.
“From the birth of Formula 1 in 1950 to the present day, LVMH and its Maisons have been an integral part of this sport. With this new partnership, both Formula 1 and LVMH are excited to write new chapters in this incredible story, with each Maison involved bringing their experience, heritage and energy to intensify the collaboration.”
Further details on the partnership will be announced in early 2025.
Greg Maffei, President and CEO of Liberty Media, stated: “LVMH and Formula 1 are two global brands that constantly push the boundaries of creativity and innovation, core values for Liberty Media. We were thrilled to work with one of the LVMH Maisons during last year’s Las Vegas Grand Prix and to now expand our relationship with the Group, which becomes a Global Partner. The opportunity to scale our commercial agreements is emblematic of the vision we have for Formula 1 as the company continues to grow its platform. We look forward to working with Bernard and Frédéric Arnault in the years to come”.
It is, as already mentioned, a historic partnership, which unites the world of luxury with the world of motoring. If you stop to think about it, Formula 1 represents “luxury”, as not everyone has the economic resources necessary to aspire to the top series. For F1 it is a historic step because uniting worlds that have always been separate is something that has never been seen until now.
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Cover photo www.formula1.com
