LVMH Secures Decade-long Sponsorship Deal with Formula 1

French luxury conglomerate LVMH has signed a 10-year sponsorship agreement with Formula 1, incorporating its Louis Vuitton, Moet Hennessy, and TAG Heuer brands. This move represents LVMH's latest venture into sports sponsorship, following a significant investment in the Paris Olympics. The deal's financial terms remain undisclosed.

French luxury conglomerate LVMH has entered into an extensive 10-year sponsorship agreement with Formula 1, encompassing its renowned brands Louis Vuitton, Moet Hennessy, and TAG Heuer, the company has announced.

This strategic partnership marks LVMH's latest significant push into the sports world, following the firm's €150 million ($165.77 million) investment to become a premium sponsor for the Paris Olympics. The new Formula 1 deal, set to commence in 2025, aims to enhance luxury brand presence at events combining brand exposure with hospitality, travel, and entertainment.

Frederic Arnault, CEO of LVMH Watches, stated, "For many years, several of our Maisons have also chosen to invest in Formula 1. We want to further grow this experiential dimension that Formula 1 provides all over the world."

(With inputs from agencies.)