LVMH becomes major sponsor of Formula 1 with new 10-year deal unveiled
LVMH becomes major sponsor of Formula 1 with new 10-year deal unveiled
Cikk tartalma röviden
LVMH has secured a 10-year sponsorship deal with Formula One, replacing Rolex, worth approximately $1bn. This partnership coincides with Formula One's 75th anniversary and comes amid a resurgence in global motorsports popularity. LVMH has a history of sports sponsorships and collaborations with notable athletes. The deal marks the end of Rolex's sponsorship since 2013, which may negatively impact the brand amidst declining luxury market conditions. LVMH is also shifting focus towards younger demographics and evolving fashion trends.
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