Tag Heuer, the luxury Swiss watch brand owned by French luxury goods conglomerate LVMH, has become the first-ever title sponsor of the iconic Monaco Grand Prix.
The watch brand, a sponsor of the event since 2011 through its partnership with the Automobile Club de Monaco race organizer, has long held a prominent presence at the race, but will now be the primary partner of the event, receiving prominent trackside and event-wide branding.
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Established in 1929, the Monaco Grand Prix predates the Formula 1 World Championship and is one of the most high-profile motor races with a reputation for opulence and celebrity.
Tag Heuer was the first luxury brand to have its logo appear on an F1 car, back in 1969, the series has said, and since then has been involved in partnerships with heavyweight teams such as Ferrari, McLaren, and (most recently) Red Bull.
This deal is an extension of the firm’s recent appointment to the role of official timekeeper of F1, which itself stems from LVMH’s wide-ranging F1 tie-up, announced in early October, that has seen a myriad of the company’s luxury brands brought in as partners of the series.
Last week (February 5), the Moët & Chandon brand stepped in as the series’ official champagne partner, the third LVMH brand to partner with F1 after Tag Heuer in early January and fashion house Louis Vuitton in late January, the latter of which became both an official partner of the series and the title sponsor of the season-opening Australian Grand Prix.
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By GlobalDataAlthough LVMH has not released any details about the partnership, rumors in September from US publication Bloomberg suggested that the deal could be worth as much as $150 million per year.
Aside from its ongoing tie-up with the Red Bull F1 team, Tag Heuer is also a partner of the Formula E electric motor racing series.
The 24-race 2025 F1 campaign will get underway on March 16 in Australia and run through until the Abu Dhabi Grand Prix in early December.
This year, the Monaco Grand Prix weekend will take place across May 23-25 on the city’s iconic street circuit.
At the time of the initial LVMH deal’s announcement, Louise Deglise-Favre, GlobalData Apparel analyst, commented: “Formula 1 has experienced a significant rise in popularity in recent years, attracting a new and diverse audience, notably through Drive to Survive.
“As a result, many brands, especially within the premium and luxury segments have been interested in capitalizing on this success and gaining exposure through partnerships. For example, before the deal between LVMH and Formula 1, brands such as Hugo Boss and Tommy Hilfiger partnered with Formula 1 racing teams Aston Martin Racing and Mercedes-AMG respectively.”
Conrad Wiacek, GlobalData Sport lead analyst, added: “For F1, this deal represents a reinforcement that the turnaround of the sport's image is complete following the fallow years at the end of the Ecclestone era, and that the success of reaching and engaging with a younger audience is paying dividends when it comes to brand partnerships.
“The deal signed by LVMH with F1 highlights the continuing appeal of the sport to luxury brands. By committing such vast sums to the sport for the next decade, LVMH is reinforcing the idea of F1 as an aspirational sport that appeals to a wealthy demographic.
“With F1 long having been seen to be an elite sport, brands partnering with it are looking to capitalize on that demographic.”
