Formula 1 has announced it has signed a 10-year, $1 billion global partnership with LVMH to bring the French multinational and conglomerate’s luxury brands to the world’s premier motorsport.
More specifically, brands such as Louis Vuitton and Moet & Chandon will have a presence on the Formula 1 grid from next year, while watch brand TAG Heuer will replace Rolex as the sport’s official timekeeping partner in a move that ends a 12-year partnership. with the Swiss company, while not affecting TAG’s deal with Red Bull or the Monaco Grand Prix.
Source: www.autoblog.gr
