– LVMH announces its entry into Formula 1
Luxe Group has formalized its global partnership with the F1 circuit, signed by dix ans. More LVMH brands will be included from 2025.
Published: 02.10.2024, at 18:46, 7 hours from today
From left to right: Stefano Domenicali, President and CEO of Formula 1; Greg Maffei, President and CEO of Liberty Media; Bernard Arnault, Chairman and CEO of LVMH Group; Frédéric Arnault, CEO of LVMH Watches.
@Formula 1
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LVMH’s 10-year luxury world record will be involved in Formula 1 with a global partnership from 2025, and a childcare investment of hundreds of millions of dollars, thought to be good for image and commercial paybacks.
The group of French billionaire Bernard Arnault, which recently became one of the main participants in the Paris 2024 Olympic and Paralympic Games, has been announced with the Formula 1 team. Press information indicates a sponsorship investment coming into Formula 1 worth $150 million based on the mountain of this partnership, In several brands of LVMH that will affect (Louis Vuitton, Moët Hennessy and Tag Heuer) this is “less than 100 million” dollars, according to what AFP reported a source close to the file.
LVMH rejoins Formula 1 from sponsors such as DHL, Heineken, MSC Croisières, Pirelli or Qatar Airways. Luxury brand Rolex is also included in the list of partners publishing more press information, and takes off from Tag Heuer (a brand of the LVMH group) as a stopwatch.
The presence of LVMH, the eponymous owner of Louis Vuitton and many of its wines and spirits, will be felt “across the hospital, made-to-measure activations, limited editions, and exclusive content,” following the announcement of the partnership. Details will be revealed in 2025. “The collaboration with one of the LVMH houses (Moët Hennessy, NDLR) during the Las Vegas Grand Prix is in the last year of our conquest, and this is for us we want to continue in the future.” “It is our relationship with the group that will create a global partnership,” said Greg Maffei, PDG of Liberty Media, owner of the Formula 1 franchise since 2017.
Liberty Media popularized the sport by targeting a female audience and even more so thanks to the Wall Street Journal’s “Drive to Surviva” series, and three years after the F1 championship, it has been surpassed in just one tournament. The three countries are the three countries participating in Grand Prix.
“Un public très jeune”-
For LVMH, the interest is very clear: the United States is one of the leading principles of luxury on a global level. Everything that makes the group’s vision positive. “Dances the sport car like ours in our industry, the mode à l’horlogerie, the detailed calculation on the chemistry of the réussite,” declared PDG Bernard Arnault, in the communication. “After many years, many of our houses are investing in Formula 1 (…) and we need to enhance this experiential dimension that Formula 1 offers across the world. “This part will not be qu’à ses débuts et les prochaines saisons promettent d’être extraordinaires,” promised his son Frédéric Arnault, who led the Montres de LVMH division and was cited in the statement.
He was queried by the Wall Street Journal, where he explained: “We are not starting our journey to the United States” with F1. “It is a new year of youth.” “I’m thinking about this. This is also what we learn about. “He dix ans, c’était un public vieillissant.”
If collective brands (Louis Vuitton, Tiffany, Tag Heuer…) have previously appeared in sports competitions, this is the second event after the Olympic and Paralympic Games in Paris 2024, where LVMH signs a sports partnership with its own name daughter.
LVMH secured this deal from Maximum Vision within the framework of an “excellent” partnership with Paris’s JO for €150 million from a file source close to AFP. “This is not a commercial question before the court,” declared Antoine Arnault, responsible for “image and environment” of PDG and others of the company, maneuvering around the negotiations for the Olympic Games. He was able to read “that partenariat valorizes the group’s image and its maisons.”
In 2023, LVMH achieved a turnover of more than €86 billion and a net benefit of more than €15 billion.
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