LVMH replaces Rolex as main Formula 1 sponsor

The world's leading luxury goods company LVMH has announced a 10-year sponsorship deal with Formula 1 starting in 2025, valued at over $100 million (CHF86 million) a year. The French luxury giant will replace the current long-time sponsor Rolex. The Swiss watchmaker Rolex, which has held the timekeeping role since 2013, could be replaced by Tag Heuer, a brand historically tied to F1, having been the sport’s first official timekeeper in 1950 under the Heuer name. Major investment Although earlier reports suggested a sponsorship investment of around $150 million (CHF129 million) a year, insiders indicate that the final figure is below $100 million. Under the new deal, LVMH, owned by French billionaire Bernard Arnault, joins other high-profile F1 sponsors such as DHL, Heineken, Pirelli and Qatar Airways. Swiss watchmaking and F1 F1’s vast audience, which reached 1.5 billion television viewers in 2023 according to Liberty Media, has always been a major draw for Swiss watchmakers.