TAG Heuer is vying for pole position in Formula 1 . The Swiss watchmaker , one of several owned by French luxury conglomerate LVMH , has set about trying to unseat Rolex as the official timekeeping sponsor of the prestigious motor-racing competition . LVMH chief financial officer Jean-Jacques Guiony has confirmed that TAG Heuer is in talks to take over the F1 sponsorship deal but didn’t share any further details, as reported by Bloomberg .
“There are some discussions, but it’s not something I can elaborate on,” Guiony said in a conference call on Tuesday evening following the company’s second quarter financial results. “Nothing is decided.” ( Robb Report contacted Rolex and Formula 1 for comment, but neither responded immediately.
) Rolex, the world’s most renowned watchmaker , has served as a global partner and the official timepiece of F1 since the 2013 season . The Crown has become a fixture of the championship over the past decade, with the official Rolex Pit Lane Clock ticking at every grand prix and branded banners adorning every track. Rolex also counts F1 drivers Sir Jackie Stewart , Mark Webber , and Nico Rosberg as “ Rolex Testimonees .
” TAG Heuer’s connection to Formula 1 runs even deeper. Heuer, as it was then known, was the first watchmaker to sponsor the F1 some 74 years ago. During the inaugural championship race in 1950, the teams used Heuer’s mechanical stopwatches to time laps.
The brand’s highly reliable timing technology soon becam.