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