Formula 1: How Luxury, Led by TAG Heuer, is Wielding Its Influence

Never before, as far as industry professionals can recall, has such an event been possible. Surreal and exceptional in its conception and organisation in record time (practice sessions took place just a few hours earlier), it had all the hallmarks of the extraordinary experience that so appeals to luxury brands today. There, we found two very long tables adorned with flowers, set up right on the tarmac facing the grandstands, with around sixty VVIP guests gathered for a gourmet dinner created by Gordon Ramsay. Among them were Stefano Domenicali, CEO of Formula 1; Laurent Mekies, Team Principal of Red Bull Racing (TAG Heuer is also a sponsor of the team); Béatrice Goasglas, CEO of TAG Heuer; as well as personalities such as Squeezie, representatives of the international press and the brand’s clients.

The La Chaux-de-Fonds-based brand is making a big splash to mark the start of its tenure as title sponsor of this inaugural event, officially named the Formula 1 TAG Heuer Gran Premio de España.

Throughout the weekend, TAG Heuer will be hosting its guests in its suite at the very end of the Paddock Clubs, directly above the pit stops; in the city at La Real Casa de Correos and its iconic clock tower in the Puerta del Sol, which it will transform into a monumental screen for video-mapping projections open to the public, as well as a pop-up boutique at the circuit, combining retail, product discovery and an interactive ‘Watchmaker Challenge’ that invited visitors to experience TAG Heuer’s watchmaking expertise first-hand.

Undoubtedly, the watch industry brand – whose association with F1 dates back to 1969, when Heuer (not yet ‘TAG Heuer’) sponsored the driver Jo Siffert – aims to derive the greatest benefit from the global partnership signed by LVMH, a contract reportedly worth between 1 and 1.5 billion euros over ten years. And in terms of visibility, the objective has clearly been achieved, as during the Madrid Grand Prix weekend alone, a total of 352,618 admissions were recorded over four days, more than 1.55 million free-to-air viewers in Spain (a 16.9 per cent audience share), and 288,000 international mentions on social media (the overall audience figure is never disclosed by Liberty Media). The visual impact is enormous.

This is nothing like its previous experiences in Formula 1, which date back to the 1970s, when the brand supplied Ferrari with timing equipment (until 1979–1980), before switching to McLaren. It then became TAG Heuer in 1985 and branded the car’s cockpit from 1986 onwards, first with Alain Prost and then with Ayrton Senna. However, it was between 1992 and 2003 that TAG Heuer first served as the official timekeeper for Formula 1, covering more than 175 Grands Prix. It resumed this role in 2025, succeeding Rolex, with a return to the track at the Australian Grand Prix in March of that year.

Under the Liberty Media era (founded in 1991 by the American businessman John C. Malone), Formula 1 has thus clearly repositioned itself as a premium lifestyle platform where everything is promoted, sponsored and amplified. This strategy has enabled it to significantly increase its turnover. Since the championship was acquired from CVC Capital Partners in 2017 for 8 billion dollars, Formula 1’s revenue has soared by 2 billion to reach 3.8 billion dollars, representing a 14 per cent increase by 2025. Its audience figures have also skyrocketed, with cumulative TV viewing hours up by 13 per cent (the only figure disclosed).

Today, Liberty Media is valued at 24.2 billion dollars, but its main division, the Formula One Group, alone represents a valuation of around 23.7 billion.

Another major change is that its audience has become considerably younger and more female (42 per cent are women and 75 per cent of new fans are female (Axios, 2026)), thanks in part to the Netflix series Drive to Survive. Luxury brands are keen on these new prospects and want to capitalise on this medium, which has become highly desirable. Since 2018, whilst Formula 1 was struggling with an image perceived as exclusive, ageing and not very digital, the championship has successfully pivoted towards social media, now boasting a total of 830 million followers across social media platforms.

Asked about this high-profile shift towards a more uninhibited marketing approach (sponsorship accounted for 21 per cent of F1’s turnover in 2025), Laurent Mekies, Team Principal at Red Bull Racing, commented: “Formula 1 has been expecting this for decades! We must remember that ten or fifteen years ago, we were an ageing sport. So we all worked together to find ways to attract the new generation. The arrival of the luxury sector is interesting, as this industry knows how to create desirability, which in turn allows us to appeal to all sectors. The teams have reorganised themselves, and under Liberty Media, the fanbase has expanded considerably; it now comprises almost as many men as women and is getting younger all the time. For us at Oracle Red Bull Racing, this gives us new exposure, enables us to attract other partners, and ultimately allows us to embark on projects that were unimaginable not long ago, such as building our own engine! And it must be said, the quality of the hospitality and facilities, which meet the high standards of the luxury sector, are conducive to business, B2B meetings and high-level deals.”

In this respect, the Madrid Grand Prix has been designed in line with the latest trends in high-end hospitality. “Madrid is, today, the epitome of the concept,” says Laurent Mekies. “Virtually all our partners have chosen Madrid as the focal point for their European marketing campaigns. It is the perfect symbol of the trajectory the sport is currently on. ”

The village featured gastronomic areas, boutiques and a whole lifestyle experience in line with the most cutting-edge – yet also the most unexpected – offerings, such as the palm-fringed swimming pool set up just a stone’s throw from the track. In the VIP areas, an incredible experiential journey can be expected for visitors, complete with a glass of Moët Brut Impérial champagne, Serrano ham and petits fours. In the TAG Heuer area, where live cooking stations were available to guests throughout the day, it was not uncommon to bump into a world-famous footballer or well-known Spanish actors from the series Money Heist or Elite. As a special guest of the brand and a huge Formula 1 fan, Patrick Dempsey had travelled from Canada, where he is currently starring in the second season of Memory of a Killer. When asked about the evolution of Formula 1, he told Luxury Tribune in an exclusive interview: “Today, Formula 1 has become the trendy sport, where everyone wants to be seen, and die-hard fans follow what’s happening, sometimes with a certain amount of concern. We’re seeing the emergence of phenomena like Kimi (Antonelli, editor’s note), who made his arrival on the world stage like a star, thereby drawing a lot of attention to the sport. And the series Drive to Survive has made it even more accessible, by showing exactly why I love F1: the drama, the characters, the personalities. You never know what’s going to happen – that’s what makes it so appealing. It’s thrilling, sexy, dangerous, cool, innovative. It’s all about technology and intelligence. All of this is positive, and it’s a good thing that the sport has grown.”

The village featured gastronomic areas, boutiques and a whole lifestyle experience in line with the most cutting-edge – yet also the most unexpected – offerings, such as the palm-fringed swimming pool set up just a stone’s throw from the track. In the VIP areas, an incredible experiential journey can be expected for visitors, complete with a glass of Moët Brut Impérial champagne, Serrano ham and petits fours. In the TAG Heuer area, where live cooking stations were available to guests throughout the day, it was not uncommon to bump into a world-famous footballer or well-known Spanish actors from the series Money Heist or Elite.

As a special guest of the brand and a huge Formula 1 fan, Patrick Dempsey had travelled from Canada, where he is currently starring in the second season of Memory of a Killer. When asked about the evolution of Formula 1, he told Luxury Tribune in an exclusive interview: “Today, Formula 1 has become the trendy sport, where everyone wants to be seen, and die-hard fans follow what’s happening, sometimes with a certain amount of concern. We’re seeing the emergence of phenomena like Kimi (Antonelli, editor’s note), who made his arrival on the world stage like a star, thereby drawing a lot of attention to the sport. And the series Drive to Survive has made it even more accessible, by showing exactly why I love F1: the drama, the characters, the personalities. You never know what’s going to happen – that’s what makes it so appealing. It’s thrilling, sexy, dangerous, cool, innovative. It’s all about technology and intelligence. All of this is positive, and it’s a good thing that the sport has grown.”

Is Formula One's highly attractive image a trap for the sport? Patrick Dempsey replies: “The real danger is overexposure – that is, an audience coming to it solely for the image, because it’s fashionable, without understanding the history and heritage behind it. Formula One brings together the very best of the best: technology, innovation and teams competing at the highest level. These are precisely the values of luxury. All of this is essential. And we’re seeing more and more women entering the sport. What’s happening with the F1 Academy is fantastic: young women are being offered opportunities, and we need to start training them from a very young age. Brands must identify talent, as Red Bull does, and support these drivers so that they can, in time, compete with men in Formula One. There is a real opportunity here, and Susie Wolff has done an excellent job of driving this project forward. But they need the support of sponsors.”

Patrick Dempsey, whose relationship with TAG Heuer dates back fourteen years, knows better than anyone how to recount the brand’s history in motor racing, which he loves to illustrate through a wealth of human stories. He concludes: “TAG Heuer was truly involved right from the very start. Originally, the brand began with Ferrari. The team didn’t trust the French timekeeping at Le Mans, so they set up their own timing and classification system to know exactly what was going on. That’s where Jack Heuer came in. TAG Heuer has been the official timekeeper for a very long time. It’s the perfect combination: Formula 1 is part of TAG Heuer’s DNA, and that’s why they’re there.”