French luxury giant LVMH has struck a 10-year sponsorship deal with Formula 1, covering its Louis Vuitton, Moet Hennessy and TAG Heuer brands and replacing long-time sponsor Rolex, the company announced Wednesday.

Now, that has been officially confirmed – with a slight twist. The TAG Heuer parent company, LVMH, has today announced the signing of a ten-year partnership with the motorsport giant.

The partnership will officially launch at the start of next F1 season and will include “hospitality, bespoke activations, limited editions and outstanding content.”

PARIS (Reuters) -French luxury giant LVMH has reached a 10-year sponsorship deal with Formula 1 which covers its Louis Vuitton, Moet Hennessy and TAG Heuer brands, replacing long-time sponsor Rolex, the company announced on Wednesday.

LVMH and the organizers of the Formula One races have signed a major sponsorship deal potentially worth $1 billion, with the French luxury goods group taking over from Rolex.

From Louis Vuitton trophy cases to Moët & Chandon on the podium, the luxury conglomerate is pulling out the stops with a 10-year sponsorship deal.

PARIS (Reuters) -French luxury giant LVMH has reached a 10-year sponsorship deal with Formula 1 which covers its Louis Vuitton, Moet Hennessy and TAG Heuer brands, the company announced on Wednesday.

Several LVMH-owned brands will be involved in the global partnership deal, including Louis Vuitton, Moët Hennessy and TAG Heuer