LVMH and Formula One announce 10-year partnership
Liberty Media-owned Formula One and luxury giant LVMH are entering into a 10-year partnership, according to a joint press release from the companies Wednesday afternoon.
Liberty Media-owned Formula One and luxury giant LVMH are entering into a 10-year partnership, according to a joint press release from the companies Wednesday afternoon.
The partnership will officially launch at the start of next F1 season and will include “hospitality, bespoke activations, limited editions and outstanding content.”
The official arrangement will not be the first time that LVMH and F1 have worked together. F1 worked with one of LVMH’s brands during last year’s Las Vegas Grand Prix and the team-up was a success, according to Liberty Media president and CEO Greg Maffei.
“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,” Maffei said in the release. “We look forward to working with Bernard and Frédéric Arnault in the years to come.”
LVMH owns brands such as Louis Vuitton, Moet Hennessy and TAG Heuer, which will be included in the partnership.
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