French luxury giant LVMH has announced a 10-year sponsorship agreement with Formula 1, which includes its brands Louis Vuitton, Moet Hennessy, and TAG Heuer.
This deal will take effect in 2025 and replaces long-time sponsor Rolex, which had partnered with Formula 1 since 2013.
The sponsorship signals LVMH’s growing interest in sports marketing. The company, led by one of the world’s wealthiest individuals, Bernard Arnault, previously invested around €150 million (about $166 million) to become the premium sponsor of the Paris Olympics.
Luxury brands are increasingly looking to enhance their visibility through events that blend hospitality, travel, and entertainment.
At the Paris Olympics, LVMH and other companies expanded traditional sponsorship roles by participating in medal ceremonies, among other activities.
Frederic Arnault, CEO of LVMH Watches, stated, “For many years, several of our Maisons (brands) have also chosen to invest in Formula 1. We want to further grow this experiential dimension that Formula 1 provides all over the world.”
Details about the financial terms of the deal have not been disclosed.
LVMH’s sponsorship at the Paris Olympics also featured its jeweler Chaumet, which designed the event’s medals, incorporating a unique piece of the Eiffel Tower into each one.
Email your news TIPS to Editor@Kahawatungu.com — this is our only official communication channel
