How Formula 1 makes money: partnering with Hot Wheels and luxury brand LVMH

Mattel's Hot Wheels brand will release a full lineup of F1 cars and associated products in 2025.

By Bruce Brown Published October 10, 2024

Mattel Inc.'s Hot Wheels initial licensed F1 race car. — F1

Formula 1 recently announced multi-year partnership deals with Mattel, Inc. and luxury brand group LVMH. The Mattel agreement involves creating F1-themed Hot Wheels 1:64 scale model cars. The 10-year agreement with LVMH includes three of the group’s Maisons, or brands: Louis Vuitton, Moët Hennessy, and TAG Heuer.

The F1 Hot Wheels deal

Hot Wheels F1 model 3D rendering right front three-quarter view. — Mattel, Inc.

Under its global licensing agreement with Formula 1, Mattel’s Hot Wheels brand will release a full lineup of F1 cars and associated products in 2025.

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The inaugural die-cast car in the series, an F1 model with Hot Wheels racing livery, is available for pre-order now on Mattel Creations for $25. It includes three sets of interchangeable Pirelli racing wheels and tires. For this limited edition, customers can order a maximum of two cars. This morning, I ordered two F1 Hot Wheels cars as birthday presents for my F1-loving son and myself.

Roberto Stanichi, Executive Vice President of Hot Wheels, said, “Hot Wheels has always been about nurturing the challenger spirit, so the partnership with Formula 1 is a natural and exciting fit. It will bring two of the largest global fan communities together to share their passion for cars and racing.”

The LVMH partnership with Formula 1

Details on the LVMH partnership won’t be announced until 2025. In a joint statement, the new partners referred to an “unprecedented agreement between the world leader in luxury and the Pinnacle of motorsport.”

Formula 1, owned by Liberty Media, will celebrate its 75th anniversary in 2025. Liberty Media CEO and president Greg Maffei said, “LVMH and Formula 1 are two global brands that consistently push the boundaries of creativity and innovation, values core to Liberty Media.”

LVMH Group Chairman and CEO Bernard Arnault said, “The people, the quest for excellence and the passion for innovation are at the heart of the activity of our Maisons and Formula 1. In motorsport as in fashion, watchmaking or wines and spirits, every detail counts on the path to success.”

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A Digital Trends Contributing Editor and Contributor for TheManual.com, Bruce Brown writes e-mobility reviews and covers…

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