The renowned French luxury brand LVMH revealed on Wednesday a decade-long sponsorship agreement as a global collaborator with Formula One. This multinational corporation, headquartered in Paris, is recognized for its prestigious labels including Louis Vuitton, Moet Hennessy, and Tag Heuer, much like the FIA governing body of F1. The collaboration with Formula One, valued at […]
The renowned French luxury brand LVMH revealed on Wednesday a decade-long sponsorship agreement as a global collaborator with Formula One.
This multinational corporation, headquartered in Paris, is recognized for its prestigious labels including Louis Vuitton, Moet Hennessy, and Tag Heuer, much like the FIA governing body of F1.
The collaboration with Formula One, valued at several hundred million dollars, follows their significant sponsorship of the upcoming Paris Olympics and Paralympics.
LVMH, led by one of the richest individuals globally, Bernard Arnault, now joins F1’s primary sponsors such as DHL, Heineken, MSC Croisieres, Pirelli, and Qatar Airways.
In a statement, the company noted that this announcement stems from their successful support of last year’s Las Vegas Grand Prix.
The partnership will commence in the next season coinciding with F1’s 75th anniversary celebrations.
Acknowledging the association, Arnault stated that it represents a perfect blend of luxury.
“The individuals involved, the pursuit of excellence, and the dedication to innovation are central to the missions of our Maisons and Formula 1,” he remarked.
“In both motorsport and industries such as fashion, watchmaking, or fine beverages, attention to detail is crucial on the journey to triumph.
“Whether in our workshops or on racing tracks worldwide, this relentless drive to push limits fuels our vision, and this is the essence we aim to bring to this remarkable and one-of-a-kind partnership between Formula 1 and our Group.”
Greg Maffei, head of F1’s parent company Liberty Media, commented: “LVMH and Formula 1 are two international brands that continually redefine the limits of creativity and innovation, principles central to Liberty Media.
“We were delighted to collaborate with one of the LVMH Maisons during last year’s Las Vegas Grand Prix and are excited to further our partnership as they take on the role of Global Partner.”
kap/ak/nr/bsp
