Formula One, owned by Liberty Media, and luxury conglomerate LVMH have announced a 10-year partnership, according to a joint press release from both companies on Wednesday.
This collaboration will officially begin with the next F1 season and will feature “hospitality, bespoke activations, limited editions, and outstanding content.”
Although this is the first formal long-term agreement between the two entities, it is not their first collaboration.
F1 previously partnered with one of LVMH’s brands during last year’s Las Vegas Grand Prix, a venture that was deemed highly successful, according to Liberty Media’s president and CEO, Greg Maffei.
Maffei expressed enthusiasm about the expanded partnership, stating, “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.”
An iconic image of a Race Winner’s trophy in a Louis Vuitton trunk on the podium at the F1 Grand Prix of Monaco on May 26, 2024, was part of the press release, showcasing the luxury brand’s previous involvement with the sport.
LVMH, which owns prestigious brands such as Louis Vuitton, Moët Hennessy, and TAG Heuer, will feature these labels as part of the partnership with F1.
Bernard Arnault, chairman and CEO of LVMH, highlighted the shared values of both companies, saying, “Both in our workshops and on circuits around the world, it is this incessant search to break boundaries that inspires our vision, and this is the meaning that we want to bring to this great and unique partnership between Formula 1 and our Group.”
While further details of the partnership are expected to emerge in 2025, no financial information has been disclosed at this time.
Liberty Media, which purchased Formula One in 2017, has accelerated the sport’s growth in recent years.
In 2019, Netflix released “Formula 1: Drive to Survive,” a behind-the-scenes series that helped transform F1 from a niche sport into a mainstream phenomenon by allowing fans to connect with the personalities of individual drivers.
The sport has also benefited from social media and content creators, which have contributed to its growing global fanbase. The next Grand Prix is scheduled for October 20 in Austin, Texas.