F1 inks a 10-year global sponsorship deal with LVMH

Investing.com10-03

Investing.com -- Liberty Media's Formula One and luxury group LVMH Moet Hennessy Louis Vuitton SE (EPA:LVMH) announced Wednesday they are entering a 10-year partnership. The partnership, set to begin ...

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While financial details were not provided, more information about the partnership will be shared in 2025.The deal between F1 and LVMH was spearheaded by Frédéric Arnault, the second-youngest child of LVMH founder and CEO Bernard Arnault.Frédéric, who took over as head of LVMH’s watchmaking division earlier this year, previously served as CEO of Tag Heue","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4108":"电影和娱乐","BK4585":"ETF&股票定投概念","FWONK":"Liberty Media Corporation Series C","LLYVA":"LIBERTY MEDIA CORPORATION","FWONA":"Liberty Media Corporation Series A","LVMUY":"路易威登","BATRK":"Atlanta Braves-C","BK4588":"碎股","BK4202":"服装、服饰与奢侈品","LVMHF":"LVMH-Moet Hennessy Louis Vuitton","LLYVK":"LIBERTY MEDIA CORPORATION","BATRA":"Atlanta Braves-A"},"translate_title":"F1与LVMH签署为期10年的全球赞助协议","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"FWONA":1,"BATRA":0.9,"BATRK":0.9,"FWONK":0.9,"LLYVA":0.9,"LLYVK":0.9,"LVMHF":0.9,"LVMUY":0.9},"content_text":"Investing.com -- Liberty Media's Formula One and luxury group LVMH Moet Hennessy Louis Vuitton SE (EPA:LVMH) announced Wednesday they are entering a 10-year partnership.\nThe partnership, set to begin with the next F1 season, will feature “hospitality, bespoke activations, limited editions and outstanding content.”\nThis marks a new official collaboration, though F1 previously worked with one of LVMH’s brands during last year’s Las Vegas Grand Prix, a successful venture according to Liberty Media's president and CEO, Greg Maffei.\n“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. “We look forward to working with Bernard and Frédéric Arnault in the years to come.”\nLVMH, which owns brands like Louis Vuitton, Moet Hennessy, and TAG Heuer, will integrate these brands into the partnership. While financial details were not provided, more information about the partnership will be shared in 2025.\nLiberty Media Formula One Corp A (NASDAQ:FWONA), which acquired Formula One in 2017, has significantly boosted the sport's growth in recent years.\nCommenting on the news, analysts at Rosenblatt said the partnership “is consistent with our sense in recent interactions that F1 sponsorship is really ramping, supportive of our constructive stance.”\n“We will be very interested to hear about what MotoGP (which Liberty has agreed to acquire) could do with sponsorship when we host MotoGP Chief Commercial Officer Dan Rossomondo in a fireside chat at AWNewYork next week.”\nThe deal between F1 and LVMH was spearheaded by Frédéric Arnault, the second-youngest child of LVMH founder and CEO Bernard Arnault.\nFrédéric, who took over as head of LVMH’s watchmaking division earlier this year, previously served as CEO of Tag Heuer. Like his father, he is a graduate of France’s prestigious engineering school, École Polytechnique.\nLuxury brands have increasingly turned to sports to broaden their reach and appeal. While luxury has traditionally been linked to high-end sports like show jumping and tennis, there is now a growing association with more popular sports such as basketball and football.\nEarlier this year, LVMH launched a Louis Vuitton campaign featuring tennis icons Roger Federer and Rafael Nadal hiking in the Italian Dolomites, a follow-up to their 2022 ad showcasing football stars Cristiano Ronaldo and Lionel Messi playing chess.\nRelated Articles\nF1 inks a 10-year global sponsorship deal with LVMH\nUber, Lyft drivers use Teslas as makeshift robotaxis, raising safety concerns\nTesla to recall over 27,000 Cybertruck vehicles over rear-view image delay","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2472696100"}