Formula 1 has signed up Charlotte Tilbury Beauty as the official partner of F1 Academy, which is F1's female-only championship.
👉 Background: Charlotte Tilbury is a British cosmetics company that was started in 2013. The brand has grown rapidly by working with big-name celebrities like Salma Hayek, Sofia Vergara, and Kate Moss.
👉 What happened: Now, Formula 1 has signed up Charlotte Tilbury Beauty as the official partner of F1 Academy, which is F1's female-only championship. And, with 40% of F1 fans now female, this collaboration isn't actually as random as it sounds.
👉 What else: Both these brands will be hoping that this unconventional collaboration will help them leverage this growing female fan-base.
💡Unconventional partnerships can help brands unlock an untapped market, especially when you're the first.
💡Beauty companies spent an average of $7.7 billion USD on advertising in 2022, which generally included billboards and social media marketing. But as the first beauty brand to collaborate with Formula 1, Charlotte Tilbury has exclusive access to the market of F1 fans.
💡No one knew it then, but it turned out 66% of gamers also invest in luxury brand products. This is why Louis Vuitton teamed up with League of Legends before. And after that, luxury brands such as Ralph Lauren, Gucci, and Balenciaga have all gotten into gaming too.
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