LVMH Inks Decade-Long Sponsorship Deal with Formula 1

- LVMH, the leading luxury group, has signed a sponsorship deal with Formula 1, starting in 2025 for a decade.
- The deal, worth under €100mn per year, will involve top LVMH brands like Louis Vuitton, Moët Hennessy, and Tag Heuer.
- This move is part of LVMH's push into sports, following its high-profile sponsorship of the Paris Olympics.
- Formula 1 has been expanding into new markets and audiences, with female fan share rising to 40% from 32% in 2018.
- The deal was led by Frédéric Arnault, who heads LVMH’s watchmaking division.

Source: [Financial Times](https://www.ft.com/content/5bee32c7-3305-474e-a85b-93ff7a5e333f)