A new deal puts the watchmaker ahead of the competition
Want more watch coverage? Get About Time, Esquire’s free newsletter devoted to the watch world, in your inbox every Sunday. Sign up hereOver the summer, it was reported that Rolex was to relinquish its title as the Official Timekeeper of Formula 1. The deal is due to expire on 8 December, ending an arrangement in place since 2011, one said to cost the luxury brand $50m a year. Rolex’s ROI was to see its logo in almost every frame of coverage seen by up to 70 million racing fans worldwide.
”Frédéric Arnault, CEO of LVMH Watches, acknowledges Tag Heuer deprioritised motorsport, something it has now put into reverse. “There was criticism of it being an old man’s sport; it had a huge issue to tackle around sustainability,” he has said. “But now the picture is very different.”Indeed, Formula 1 has enjoyed a surge in popularity among younger generations, thanks to the Netflix show Drive to Survive.
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