Rolex looks set to end a decade-long relationship with Formula 1 at the end of the current season, with another Swiss Luxury watch group waiting patiently in the wings.
The luxurious world of haute horlogerie has a natural home in Formula 1. With a commitment to producing premium timepieces of the highest quality, renowned the world over for their precision, it’s no wonder that brands such as Rolex, Richard Mille and TAG Heuer have long maintained a close connection to the world’s premier motorsport.
Known for its cutting-edge technology, global reach and inherently glamorous image, Formula 1 offers an ideal platform for brands such as Rolex to showcase their precision engineering to a captivated audience of millions of people around the world.
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Of course, the enduring partnership between luxury watchmakers and Formula 1 has evolved alongside the sport’s rise in popularity, with docuseries such as Drive to Survive leading to a seismic boom in interest within the U.S. markets and beyond.
As F1 grows around the world to accommodate the rise in audiences, so too have investments in the sport… but it looks as though one of the sport’s stalwarts is looking to end a decade-long agreement.
Rolex looks set to leave Formula 1 by 2025
It’s been reported that Rolex may sever its partnership with Formula 1 at the end of the 2024 season. The Swiss luxury watchmaker first entered the Formula 1 grid in 2011, initially paying just $10 million (~$14 million AUD) for exclusive trackside branding and title sponsorship at select events.
With the boom in popularity of Formula 1 in recent years, Rolex’s current deal has skyrocketed and is now worth an estimated $50 million (~$75 million AUD) annually, but Rolex could well be replaced by LVMH Group for the 2025 season.
LVMH Group, which owns TAG Heuer and Hublot, are ready to replace Rolex as the Official Timepiece of Formula 1 in a deal that’s worth a reported $150 million (~$222 million AUD) annually. TAG Heuer, of course, is a long-term partner of current Formula 1 champions Red Bull and has enjoyed a close partnership with the sport since the 1970s.
Hublot first entered F1 in 2010 but was replaced by Rolex just a year later. The chief disruptors initially partnered with Ferrari before expanding their racing team portfolio to include McLaren in 2015. It’s still unclear whether the new deal will see Hublot or TAG Heuer return as the Official Timepiece of F1.
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