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The French luxury giant continues its cultural dominance by scoring an expansive 10-year sponsorship deal with another sudden cultural giant — Formula One.
Why It Hits: LVMH got a big taste of the sporting life with the Paris Olympics and now wants to keep competing in the space… viewing the young daredevil drivers as the perfect Adonises to model its luxury products.
Behind the Wheel: While some of LVMH’s brands have been involved with F1 over the past 50 years (Louis Vuitton, TAG Heuer, and Moët & Chandon), LVMH is now totally jumping in.
- It’s only the second time the luxury giant has inked a sponsorship deal for all of its 75 brands — the first being the Olympics.
- That means LVMH’s brands will touch every aspect of the race — uniforms, timekeeping, victory champagne, trophy trunks, etc. Heck, they may sponsor the asphalt at this point.
- The deal is rumored to cost LVMH $110 million a year, giving the conglomerate a marketing vehicle that travels to top global metros, has a strong presence in premium entertainment, and reaches a younger audience.
Final Thoughts: As inflation and the cost of living have soared around the world, the demand for luxury goods has naturally declined. (Rent or a sweater? You get it.) So, LVMH seems to be trying to broaden its fanbase and curry favor with a new type of clientele — one that’s young, online, and maybe even American. It’s all about capturing the next generation. Considering some of LVMH’s brands have been around since the 1700s, it’s safe to say that they’ve always figured out how to do that.
This time, it may mean slapping a logo on the most technologically advanced cars on the planet and helping market a movie for Apple’s streaming service. It pays to be classic and cutting-edge.
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