Louis Vuitton Owner Clinches 10-Year Sponsorship Deal With Formula 1

French luxury giant LVMH has secured a 10-year sponsorship deal with Formula 1, covering its Louis Vuitton, Moet Hennessy, and TAG Heuer brands and replacing long-time sponsor Rolex, the company announced, Reuters reported.

The sponsorship deal will take effect in 2025 and marks a new push by LVMH into the sports arena. I Photo: Louis Vuitton X

The sponsorship deal will take effect in 2025 and marks a new push by LVMH into the sports arena.

The company, led by one of the world’s wealthiest individuals, Bernard Arnault, previously paid approximately €150 million ($166 million) to become the premium sponsor of the Paris Olympics.

High-end Swiss watchmaker Rolex had been a partner of Formula 1 since 2013.

Luxury brands are increasingly seeking to enhance brand exposure through events that combine hospitality, travel, and entertainment.

Ahead of the Olympics, Louis Vuitton's CEO emphasized that sports embody “the DNA” of the brand. At the Paris Olympics, LVMH and other companies expanded traditional brand sponsorships by participating in medal ceremonies, for instance.

“For many years, several of our Maisons (brands) have also chosen to invest in Formula 1,” said LVMH Watches CEO Frederic Arnault, adding: “We want to further grow this experiential dimension that Formula 1 provides all over the world.”