Stefano Domenicali, CEO of the Formula One Group, talks with Bruno Michel, F2 & F3 CEO in the Paddock (from Left). Source: Getty Images
Liberty Media on Thursday announced that Formula 1 is set to get into a partnership deal with LMVH from 2025. As per reports, F1 signed a 10-year partnership worth $1.1 billion [€1 billion] with the French multinational giant, which translates to $110 million [€100 million] annually.
LVMH Moët Hennessy Louis Vuitton SE, popularly known as LVMH, is a French conglomerate company that specializes in luxury goods. The company also represents globally renowned brands such as Louis Vuitton and TAG Heuer.
“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," Domenicali said. "This is a landmark partnership for both companies and I would like to thank Bernard and Frédéric Arnault for their vision and commitment to bring this to life."
