👉 Background:  LVMH is the French luxury conglomerate that stands for Louis Vuitton Moet Hennessy, and houses more than 70 luxury brands or “maisons” as they call them. Think: Louis Vuitton, Dior, Givenchy, and more.

👉 What happened: During the Olympics and Paralympics in Paris, LVMH’s brands were everywhere. As an example, medals were delivered to athletes on a Louis Vuitton suitcase. Now, off the back of this success, LVMH has signed a 10 year deal with Formula One.

👉 What else: This deal is believed to be worth around €100m a year over 10 years and it's all about getting in front of a new global audience.

What's the key learning?

💡As consumer preferences evolve, brands need to evolve their marketing to be where their audiences are spending time and attention.

💡LVMH’s brands have traditionally used A-list celebrities like Rihanna, and Zendaya as brand ambassadors. But since the success of the Olympics, LVMH is now starting to seek out multiple touch points with customers:

• TAG Heuer, owned by LVMH, will replace Rolex as the official timekeeper of F1
• LVMH will manufacture cases for the trophies
• And you better believe they’ll now be squirting bottles of Moet from the podium
  

💡The F1 has also gone through a serious makeover since the Drive to Survive series took Netflix by storm and drew in younger, social media savvy fans - especially in the US. In fact, the US market alone was worth nearly €22 billion in revenue for LVMH last year.