Several LVMH-owned brands will be involved in the global partnership deal, including Louis Vuitton, Moët Hennessy and TAG Heuer

In a deal reported to be worth as much as $1billion, the conglomerate has signed on as a global partner of the series

PARIS :French luxury giant LVMH has reached a 10-year sponsorship deal with Formula 1 which covers its Louis Vuitton, Moet Hennessy and TAG Heuer brands, the company announced on Wednesday. The partnership, the company's next major push into the sports world after it paid some 150 million euros ($165.77 milli

Liberty Media-owned Formula One and luxury giant LVMH are entering into a 10-year partnership, according to a joint press release from Wednesday afternoon. 

PARIS :French luxury giant LVMH has reached a 10-year sponsorship deal with Formula 1 which covers its Louis Vuitton, Moet Hennessy and TAG Heuer brands, replacing long-time sponsor Rolex, the company announced on Wednesday. The deal, which comes into effect in 2025, marks a fresh push by LVMH into the sport

LVMH signed a 10-year global partnership, estimated to be under $100 million per year, with Formula 1. Tag Heuer, Louis Vuitton and Champagne house Moët & Chandon are the key brands involved.

French luxury goods giant LVMH on Wednesday announced a 10-year sponsorship deal as a global partner of Formula One. “We were thrilled to work with one of the LVMH Maisons during the Las Vegas Grand Prix last year, and to now expand our relationship with the Group as they become a Global Partner." kap/ak/nr/bsp