The Race winner’s trophy is seen in a Louis Vuitton trunk in the box ahead of the Monaco F1 Grand Prix at the Circuit de Monaco on May 26, 2024 in Monte-Carlo, Monaco.
Bryn Lennon | Formula 1 | Getty Images
Liberty Media-owned Formula One and blind luxury LVMH entered into a 10-year partnership, according to a joint press release from the companies Wednesday afternoon.
The partnership will be officially launched at the start of the next F1 season and will include “hospitality, bespoke activations, limited editions and exceptional content.”
The official arrangement will not be the first time LVMH and F1 have worked together. F1 partnered with one of LVMH’s brands during last year’s Las Vegas Grand Prix and the team was successful, according to Liberty Media president and CEO Greg Maffei.
“The opportunity to expand our commercial arrangements is emblematic of our vision for Formula 1 as the business continues to grow the platform,” Maffei said in the release. “We look forward to working with Bernard and Frédéric Arnault in the years to come.”
The Race winner’s trophy is seen in a Louis Vuitton trunk on the podium after the Monaco F1 Grand Prix at the Circuit de Monaco on May 26, 2024 in Monte-Carlo, Monaco.
Clive Rose Getty Images
LVMH owns brands such as Louis Vuitton, Moet Hennessy and TAG Heuer, which will be included in the partnership.
“Both in workshops and circuits around the world, the constant search to break the boundaries inspires our vision, and this is the meaning we want to bring to the wonderful and unique partnership between Formula 1 and our Group,” LVMH Group chairman and CEO Bernard Arnault said in a release.
More details about the partnership will come in 2025 and no financial details were included in the release.
Liberty Media bought F1 in 2017 and has turbocharged the league’s growth in recent years.
Netflix released the behind-the-scenes series “Formula 1: Drive to Survive” in 2019 that helped push F1 from a niche sport to a more general audience as viewers became fans after seeing the personalities of individual drivers. The sport is also getting a tailwind from social media and content creators, giving people more ways to become fans.
The next Grand Prix is October 20 in Austin, Texas.
