Rolex rumoured to cede F1 sponsorship to LVMH
Russell SheldrakeNews came out overnight suggesting that Rolex could be ending its 11-year global sponsorship of Formula One as soon as next season with LVMH taking over. First reported by Coronet magazine, a small online publication dedicated to covering all things Rolex, that supposedly got the information from sources in Geneva.
Rolex started its role as the global timekeeper of F1 back in 2013, not being the official sponsor of any one team and allowing other brands to be associated with them and their drivers, while Rolex branding stayed consistent across all racetracks. According to Forbes, Rolex pay an estimated $50 million annually to be the official timepiece of the motor racing series, but the sport has seen a boom in popularity in the last couple of years.
The sport had an average of 70 million global viewers per Grand Prix last year, with an increase across the board from pre-pandemic numbers. This is in part thanks to the massive success of the Netflix documentary series Drive to Survive that introduced countless people to the sport and has worked its way out from being a niche to a mainstream interest in many countries around the world.
Such a spike in popularity is bound to leave the race organisers in search of more money from all sponsors as the value increases with each new pair of eyeballs. While Rolex remains at the top of the roost for watch brands globally, it still struggles to compete with LVMH on a group level. The group’s 75 brands brought in a combined revenue of €86.4bn last year alone, dwarfing the latest official figures from Rolex of $13bn in 2021.
So the question remains, if this is true, which LVMH brands will we see lining the paddock next season? The obvious choice would be for TAG Heuer to take the leading role, given its strong heritage with Formula One over the years, having been a sponsor in the sport going back as far as 1969 when Jack Heuer put Carrera chronographs on the wrist of Jo Siffert. And with the recent re-release of the much-loved Formula 1 model in collaboration with streetwear brand Kith, it’s clear TAG Heuer is leaning into its racing pedigree more and more.
If this story is true, the Rolex Group will likely still stay connected to the sport through Tudor’s sponsorship of Visa Cash App RB and its newly released Ceramic Black Bay “Blue”. So far, we have had no comment or statement from Rolex or LVMH on this matter, but should one come in we will update this article directly.