Rolex may transfer Formula 1 Sponsorship to LVMH

Recent reports suggest Rolex is set to end its 11-year global sponsorship of Formula One, with LVMH taking over as soon as the next season (2024-2025). Initially reported by Coronet magazine, an online publication focused on Rolex, the information comes from sources in Geneva.

Rolex has not yet commented on this and has not provided reasons for its potential departure from F1.

The current Sponsorship

Rolex began its role as the global timekeeper of F1 more than a decade ago, in 2013, maintaining a consistent branding presence across all racetracks without sponsoring any specific team. According to Forbes, Rolex pays an estimated $50 million annually for this partnership.

What´s next?

Despite this, the sport’s recent surge in popularity, partly due to the Netflix series Drive to Survive, has increased viewership significantly around the world, with an average of 70 million global viewers per Grand Prix last year, and doubled its audience in the past decade to 1.5 billion viewers in 2023.

This rise in popularity has driven the sport's organisers to seek more lucrative sponsorship deals. Sources indicate that starting in January 2025, the LVMH group will become the official Sponsor of F1, with a new annual contract reportedly worth $150 million. Rolex may still maintain a connection to F1 through Tudor's sponsorship of Visa Cash App RB and the new Ceramic Black Bay “Blue”. Rolex may still maintain a connection to F1 through Tudor's sponsorship of Visa Cash App RB and the new Ceramic Black Bay “Blue”. 

Strong Competition 

Despite being a leading watch brand globally, Rolex's annual revenue of $13 billion in 2021 pales in comparison to LVMH's €86.4 billion. LVMH, which owns 75 brands including TAG Heuer and Hublot, has the financial strength to outbid Rolex on this one.

If the transition happens, TAG Heuer is a likely candidate to feature prominently next season due to its historical connection with F1, dating back to 1969. TAG Heuer recently re-released its Formula 1 model in collaboration with streetwear brand Kith.

*Disclaimer: Neither Rolex nor LVMH has officially commented on the sponsorship change yet, but updates will be provided as more information becomes available