Liberty Media-owned Formula One and luxury powerhouse LVMH are engaging into a 10-year relationship, according to a joint press release from the companies Wednesday afternoon.
Beginning with the 2019 Formula One season, the relationship will formally debut and feature “hospitality, bespoke activations, limited editions and outstanding content.”
The official partnership will not be the first time that LVMH and F1 have worked together. During the Las Vegas Grand Prix last year, F1 collaborated with one of LVMH’s brands, and Liberty Media president and CEO Greg Maffei said the partnership was successful.
In the press announcement, Maffei stated, “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’re excited to collaborate with Frédéric and Bernard Arnault in the future.”
The brands featured in the cooperation include Louis Vuitton, Moet Hennessy, and TAG Heuer, all owned by LVMH.
The release quoted LVMH Group chairman and CEO Bernard Arnault as saying, “This incessant search to break boundaries that inspires our vision—both in our workshops and on circuits around the world—and this is the meaning that we want to bring to this great and unique partnership between Formula 1 and our Group.”
More specifics of the cooperation are anticipated to arrive in 2025 and there were no financial figures mentioned in the statement.
F1 was acquired by Liberty Media in 2017, and since then, the league’s expansion has been greatly accelerated.
In 2019, Netflix debuted “Formula 1: Drive to Survive,” a behind-the-scenes series that helped convert F1 from a specialized sport to a wider audience by showcasing the characteristics of individual drivers. Social media and content producers have also boosted interest in the sport by providing additional avenues for individuals to become fans.
