LVMH Banks On Long-Term Formula One Partnership With Belvedere Scoring Landmark Deal 

Luxury goods giant LVMH is leveraging on its long-term sponsorship deal with Formula One (F1); making its premium spirits brand Belvedere as the sport’s first official vodka partner.  

To kickstart its partnership Belvedere will host an official after-party for the season-opening Australian Grand Prix in Melbourne this weekend. The spirit will also be served in hospitality spaces throughout the season, including in the Paddock Club and the F1 Garage.

F1 president and chief executive Stefano Domenicali, said, “Formula 1 has always been the symbol of prestige, adrenaline, and spectacle, which is why we are so thrilled to welcome Belvedere as our first Official Vodka Partner.”

“This announcement once again confirms the strong connection with LVMH, consolidated by a decade-long partnership. Their willingness to fully embrace the spirit of Formula 1 excites us and makes us proud of this partnership.”

LVMH which forged a ten-year deal with F1 last October,  has been on a roll with tie-ups with the elite motor racing series in Q125. Prior to the Belvedere deal, the likes of Tag Heuer, Louis Vuitton and Moët & Chandon—brands under the LVMH portfolio—have struck partnership deals in F1.

According to ASN data, LVMH brands have invested a whopping US$160m+ in the Asian sponsorship market since Q122, with an average quarterly investment of almost US$14.9m, a figure that has been rather consistent for much of this period. As for markets, China (78.3%), South Korea (12.6%) and Japan (2.9%) are the three biggest markets for its spends. The bulk of the deals have been on celebrity endorsements from the entertainment world typically in the US$200k to US$400k range.