Formula 1 has today announced that luxury brands group LVMH will become a Global Partner in 2025 – when the sport will be celebrating its 75th anniversary.
LVMH’s new multi year arrangement will coordinated using a portion of its most famous Maisons, for example, Louis Vuitton, Moët Hennessy and TAG Heuer.
Much like the initial statement by both, Formula 1 and LVMH called this these as ‘historic partnership between the world’s premier luxury goods and the elite motorsport that will kick off from the following season when there is amazing sustained annual growing interest, cultural and entertainment relevance for Formula 1 as an intersection between global sports and popular entertainment.
‘In terms of sophistication, the marriage of creativity and excellence of the LVMH Group and Formula 1 innovation and high-performance, it will offer the best of both worlds and create unique experiences fusing passion for both sport and art de vivre, racing and craftsmanship, for lovers and aficionados of the sport and business’ Muhammad said.
LVMH and its Maisons have had Formula 1 in their life, since the very beginning of this motorsport championship, in 1950. When speaking about the possibilities of this new partnership LVMH and Formula 1 both quote: When the time comes for writing new chapters of this fantastic story, every Maison engaged to the project will invest its specific experience, its traditions, and its enthusiasm to step it up.
Further details of the partnership will be announced in early 2025.
Greg Maffei, President and CEO, Liberty Media, said: “LVMH and Formula 1 are two global brands that consistently push the boundaries of creativity and innovation, values core to Liberty Media.
“We were thrilled to work with one of the LVMH Maisons during the Las Vegas Grand Prix last year, and to now expand our relationship with the Group as they become a Global Partner.
“The opportunity to scale our commercial arrangements is emblematic of the vision we have for Formula 1 as the business continues to grow its platform. We look forward to working with Bernard and Frédéric Arnault in the years to come.”
Bernard Arnault, Chairman and CEO of LVMH Group, added: “The people, the quest for excellence and the passion for innovation are at the heart of the activity of our Maisons and Formula 1. In motorsport as in fashion, watchmaking or wines and spirits, every detail counts on the path to success.
‘Whether in our factories or racing tracks across the globe, it is this pursuit of the impossible that underpins our philosophy, and this is the message that we want to convey to this magnificent and unprecedented partnership between Formula 1 and our Group.’
Stefano Domenicali, President and CEO, Formula 1, continued: “Our sport is driven by the principle of continuous improvement, as is LVMH, and so I am excited to reveal that the partnership will commence in 2025.
Due to the global expansion of Formula 1, reaching new audiences, LVMH’s competitiveness, and diversification make it the perfect partner for us to advance the experience of our fans and the legacy of our brilliant sport.
“This is a pioneering partnership for both organisations, and I want to personally express my gratitude to Bernard and Frédéric Arnault for his foresight and determination to realise this venture.”
Frédéric Arnault, CEO of LVMH Watches, concluded: They used the words “Formula 1” and going Forward “It has also become one of the most desirable sports in the matters of the last years.” It is indeed an active discipline which reflects a number of values very close to us such as innovation, team works, performance to name but a few.
“Over the years, several of our Maisons have also wanted to become involved with Formula 1, for the purpose of offering exclusive experiences of for celebrations. With our Maisons and the expertise of our Group , we wish to amplify this experiential which Formula 1 offers all around planet. We are on a bit of journey just starting this partnership but the years ahead hold such awesome seasons.