Formula 1 have confirmed a major change for 2025 after announcing LVMH will become their Global Partner in a historic 10-year deal.
The Paris-based company specialises in luxury goods, with a plethora of iconic brands falling under the company umbrella such as: Louis Vuitton, Bulgari, Dior, Fendi, Givenchy, Guerlain, Kenzo, Marc Jacobs, Tiffany & Co, Moët & Chandon, Veuve Clicquot, Krug, Dom Perignon, Maison Ruinart, Le Bon Marche and Sephora.
Seven-time world champion Lewis Hamilton recently debuted in his first campaign with LVMH brand Dior, after being announced as their brand ambassador earlier this year.
Luxury watchmakers TAG Heuer are also included under the LVMH umbrella, with the Swiss company expected to take over from Rolex as the official timepiece of F1.
Lewis Hamilton has joined Dior as their brand ambassador Rolex is expected to be ousted by TAG Heuer as the official timepiece of F1
LVMH launch ‘unique’ partnership with F1
The LVMH Group is led by CEO Bernard Arnault, who previously stated he would be unhappy if he ‘was not the richest man in the world’, and has now praised their union with the pinnacle of motorsport.
“The people, the quest for excellence and the passion for innovation are at the heart of the activity of our Maisons and Formula 1,” he said.
“In motorsport as in fashion, watchmaking or wines and spirits, every detail counts on the path to success.
“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.”
Despite their successful history, Arnault has tumbled down the list of the world’s richest men, now placing fifth, due to the company’s stock price dropping by 20 per cent, which resulted in a $54 billion cut of his net worth.
According to Fortune Arnault’s net worth is down $30 billion, making him the biggest loser on the list to-date in 2024, falling below the likes of Elon Musk, Jeff Bezos and Mark Zuckerberg.
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