Source: REUTERS/Isabel Infantes
[Saba Sports News] F1 official partner, the world-renowned French luxury brand Louis Vuitton (LV), recently announced a partnership that will see the addition of the Glencairn brand. Glencairn is the only whisky brand under the LVMH Group. It is reported that the LVMH Group has increased its sponsorship of F1 to $150 million per year, three times the previous amount sponsored by Rolex. This will provide more financial support for F1, helping the sport develop and promote further. Additionally, with the participation of brands such as Louis Vuitton, Moet & Chandon, and TAG Heuer, the LVMH Group can add multiple dimensions of appeal to F1, enhancing its high-end fashion image and attracting more viewers and sponsors. The editor believes that this partnership will help LV expand its market. F1 has a wide audience and a large number of high-net-worth individuals, which aligns well with the target customer base of the LVMH Group. Through F1, LV can leverage the global influence of the sport to increase the visibility and exposure of its brands, thus expanding its market.