The partnership will officially launch on 16 March 2025 in Melbourne at the start of the next Formula 1 season.
As the official timekeeper, LVMH will reportedly spend $USD1 billion ($AUD1.47 billion) across the next decade. CEO Bernard Arnault said the parallels between the luxury industry and competitive motor racing made the partnership an ideal fit.
“The people, the quest for excellence and the passion for innovation are at the heart of the activity of our Maisons [brands] and Formula 1. In motorsport as in fashion, watchmaking or wines and spirits, every detail counts on the path to success,” he said.
“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.”
This agreement follows LVMH’s major sponsorship of the 2024 Olympic Games in Paris. It also brings an end to a decade-long partnership between Formula 1 and Rolex.
Formula 1 CEO Stefano Domenicali described the partnership as a landmark moment in the history of both parties.
“Our sport is founded on the relentless pursuit of excellence, a value that also lies at the heart of LVMH, so I am delighted to announce this historic partnership will begin in 2025,” he said.
“As Formula 1 continues its global growth, attracting new and more diverse audiences, the strength and breadth of LVMH makes it the perfect partner for us to work with as we look to continually enhance the experience of our fans and the heritage of our incredible sport.
“This is a landmark partnership for both companies, and I would like to thank Bernard and Frederic Arnault for their vision and commitment to bring this to life.”
The next Formula 1 Grand Prix begins on 20 October in Austin, Texas.
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