Sidhu & Simon reposted this
Founding Managing Director of Sidhu & Simon | Fellow of Chartered Institute of Marketing | Formula 1, Sports Marketing, Sponsorships
With LVMH making a groundbreaking 10-year partnership commitment to Formula 1, luxury powerhouses like Louis Vuitton, Moët Hennessy, and TAG Heuer are stepping into the spotlight on the world’s biggest stage. For me, this is a real full-circle moment. As Sidhu & Simon turns 20 this year, I can’t help but think back to as recently as 2019, when pitching F1 to our luxury clients often got polite nods, raised eyebrows, and the occasional “how nice for you.” Back then, F1 was seen as "motorsport for petrol heads," while luxury brands were, let’s say, sipping champagne in a different room. Fast forward to today, and look who's at the table—fully embracing Formula 1 as the perfect global partner. The numbers speak for themselves. Formula 1’s audience now tops 1.5 billion annually, with a younger, more affluent fan base—34% under 35. Female viewership has surged to 40%, attracting new women-focused sponsors (thanks, Financial Times). Since Liberty Media took over, F1 has quickly transformed from a global racing series into a global entertainment powerhouse. Liberty's revenue skyrocketed to $3.2 billion in 2023, with premium Grands Prix like Miami and Las Vegas pulling in new high-net-worth fans and world-class brands. Luxury is also booming, with LVMH is leading the charge. In 2023, LVMH reported a record €86.2 billion in revenue, up 9% from the previous year, with net profits hitting €15.2 billion. The global luxury goods market grew to €1.5 trillion, driven by millennials and Gen Z consumers who crave exclusivity, experiences, and heritage. The intersection of these two worlds - Formula 1 and LVMH could not be more timely or powerful. The collision of adrenaline and refinement is where the magic happens - and Sidhu & Simon couldn’t be more ready and excited for this latest chapter in F1’s remarkable growth. Hats off to Formula 1 and LVMH 👌 #SidhuAndSimon #F1 #LuxuryBrands #LVMH #20YearsInF1 #SponsorshipActivationExperts