LVMH strengthens grip on Formula 1 with Belvedere partnership
LVMH owned Belvedere has joined Formula 1 as its Official Vodka Partner for the sport’s 75th anniversary season, marking its first partnership in global motorsport. The post LVMH strengthens grip on Formula 1 with Belvedere partnership appeared first on The Drinks Business.
Belvedere Vodka has signed on as the Official Vodka Partner for Formula 1’s 75th anniversary season, starting in 2025. The deal will see the brand integrated into F1’s hospitality spaces, including the Paddock Club, as well as hosting events such as an Official Afterparty at the Australian Grand Prix.
Francois-Xavier Desplancke, President and CEO of Belvedere Vodka, said: “I am immensely proud of the partnership between Belvedere and Formula 1. Our mutual dedication to innovation, expertise, and precision naturally aligns our brands, creating a truly exceptional alliance.”
Stefano Domenicali, President and CEO of Formula 1, added: “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.”
LVMH strengthens grip on Formula 1
Belvedere’s partnership follows LVMH’s recent 10-year deal with Formula 1, which has already seen Moët & Chandon return as the sport’s Official Champagne, replacing Ferrari Trento on the podium. The deal marks a major expansion of the luxury group’s presence in F1, with other LVMH-owned brands—including Hennessy and Louis Vuitton—also integrated into various aspects of the sport.
The move comes at a time when LVMH is seeking to reinforce its dominance in the luxury drinks market amid declining sales. The group’s wine and spirits division, Moët Hennessy, has been under pressure due to slowing demand, particularly in the US and China. Recent reports show that LVMH’s drinks arm has continued to weigh on overall company performance, with revenue down 4% in 2023 and further declines reported into early 2024. This has prompted leadership changes within Moët Hennessy and a strategic shift to bolster high-end brand positioning.
LVMH’s wider challenges are not limited to alcohol. The luxury sector as a whole has been struggling, with reports indicating that the market lost around 50 million customers in 2023 due to economic uncertainty and shifting consumer priorities. By leveraging high-profile partnerships like Formula 1, LVMH appears to be doubling down on brand visibility and exclusive experiences to maintain its status in the ultra-premium sector.
Belvedere’s entry into Formula 1 continues the trend of high-end drinks brands associating with the sport, offering premium hospitality and entertainment experiences alongside the racing action. The return of Moët & Chandon to the podium and Belvedere’s new role as the Official Vodka Partner reinforce Formula 1’s positioning as a lifestyle spectacle as much as a motorsport championship.
With LVMH embedding itself further into F1, the sport is increasingly becoming a showcase for luxury brands—both on and off the track.
