logo
How Formula One became the ultimate playground for the world's leading watchmakers

How Formula One became the ultimate playground for the world's leading watchmakers

The National23-05-2025

The Formula One season so far suggests there is a buzz around the sport this year, with several drivers seriously contending for the championship in what is the competition's 75th anniversary season. American entertainment group Liberty Media, which acquired Formula One Group for $4.6 billion in 2017, set out to modernise the sport and boost fan engagement by expanding the race calendar. Under its ownership, Netflix launched the global hit Drive to Survive; and this June, F1: The Movie, the Brad Pitt-led film about the fictional APX GP racing team (co-produced by Lewis Hamilton), will release on Apple TV+. All of this has raised the sport's global profile and attracted major corporate partners, including LVMH, which reportedly signed a $1 billion, 10-year sponsorship deal in October. The watch world has long been enamoured with F1. Jack Heuer was the first to put a logo on a Formula One car, sponsoring Jo Siffert's Lotus in 1969. By 1971, Heuer had struck a partnership with Ferrari. By then, Heuer's square-case Monaco watch had gained fame after Steve McQueen wore it in the 1971 film Le Mans, adding racing glamour to the brand. In 1986, Techniques d'Avant Garde (Tag) acquired Heuer and went on to sponsor the McLaren team, backing famous drivers Ayrton Senna and Alain Prost. As of 2025, Tag Heuer's name is linked to 239 victories, 15 World Drivers' Championships and 11 World Constructors' Championships, most recently with Oracle Red Bull and Max Verstappen. This year, Tag Heuer (now owned by LVMH) returns as Official Timekeeper, a title it last held between 1992 and 2003. To mark the occasion, Tag Heuer released nine Formula One Solargraph models, reflecting the pit lane clock design and available in playful colours at an entry-level price point (about Dh8,000). Two minutes of exposure to light powers each watch for a full day. Meanwhile, Verstappen has been spotted wearing the headline-grabbing Monaco Split-Seconds Chronograph/F1 in white ultralight ceramic, featuring an advanced split-seconds movement. It's a major statement for Tag Heuer. 'Today, Formula One stands as a global phenomenon that transcends genders, generations and borders, much like Tag Heuer itself,' noted chief executive Antoine Pin at Geneva's Watches & Wonders in April. He described it as the brand's biggest communication investment to date, adding: 'This renewed partnership presents an extraordinary platform to showcase the maison's expertise in precision timing.' Watches and racing cars inherently share values – precision engineering, cutting-edge technology and avant-garde materials. Engineers at the Mercedes-AMG Petronas F1 team and IWC Schaffhausen regularly collaborate, notably this year on the Big Pilot's Watch Shock Absorber XPL Toto Wolff Edition, named after the Mercedes team's media-friendly boss. Designed to withstand the forces of F1 racing, the watch features the patented Spring-g Protect shock absorber system, which protects the movement even under high impacts, akin to the G-forces endured in a crash at 320kph. F1 cars can experience up to 5g at circuits such as Silverstone, but the Big Pilot's ethos is rooted in aviation, where fighter jets endure up to 9g. Meanwhile, Richard Mille occupies a rare position, sponsoring two rival teams – Scuderia Ferrari and McLaren. Charles Leclerc wears the RM 67-02 Italy, while Lewis Hamilton, newly signed to Ferrari, now sports the RM 74-02 Automatic Tourbillon, after years of wearing IWC at Mercedes. Engineers from Ferrari and Richard Mille, whose partnership began in 2021, recently collaborated on the RM 43-01, launched in March. Featuring an aerodynamic case profile and Ferrari's signature rear-light-inspired pushers, it also boasts a next-generation split-seconds chronograph movement. The titanium version is priced at Dh5 million and the carbon TPT version at nearly Dh6 million, and each is limited to 75 pieces. The relationship between Richard Mille and Ferrari began through brand ambassador Charles Leclerc. 'When we saw the previous partnership with Ferrari had finished, we saw an occasion for a discussion,' says Alexandre Mille, who co-leads the brand with his sister, Amanda, and Maxime Guenat following Richard Mille's retirement. 'Ferrari was super-happy to start.' Ferrari wanted exclusivity, but Richard Mille insisted on maintaining its long-standing partnership with McLaren, which has been in place since 2016. Their fourth collaboration, the 500-piece RM 65-01 McLaren Automatic Split-Seconds Chronograph W1, draws design cues from McLaren's most powerful and radical road car to date, the W1. Race-winner Oscar Piastri wore this watch on the podiums in Bahrain and Saudi Arabia, while teammate Lando Norris sports the RM 67-02. Elsewhere in the paddock, several other watch brands are making moves. H Moser & Cie and Tudor entered the F1 scene two years ago, partnering with BWT Alpine and Visa Cash App Red Bull (aka Racing Bulls), respectively. Returning for a fourth year is Girard-Perregaux, which partners with Aston Martin Aramco. Though the team has had a chequered history, new investment and energy from owner Lawrence Stroll have spurred momentum. Girard-Perregaux's Laureato Absolute Aston Martin F1 Edition features a 44mm titanium case and the same green livery as the Aston Martin race cars, with design details inspired by the famous DB12. 'It's our first dive into the finely tuned world of Formula One,' says Edouard Meylan, chief executive and co-owner of H Moser & Cie, who chose the flagship Streamliner collection for the partnership with Alpine last year, producing a version of its Cylindrical Tourbillon with a skeletonised main dial at 12 o'clock topped with a small domed dial in blue. 'Since the beginning of this adventure, H Moser & Cie's visibility has accelerated at the speed of a race car. Drive to Survive has thrown the spotlight on F1 in a whole new way, turning the paddocks into a playground for a generation hungry for adrenalin and storytelling,' says Meylan. Playful with colours, a pink version to match Alpine's blue-pink livery was later added at the Miami Grand Prix. This, Meylan points out, 'speaks a language Gen Z understands – boldness, fun and reinterpretation of traditional watchmaking. All elements that speak to the aesthetes of tomorrow.' Driving for Racing Bulls, rookies Liam Lawson and Isack Hadjar sport Tudor's Black Bay Ceramic 'Blue' edition, exemplifying the brand's 'Born to Dare' ethos. 'Tudor has always been fuelled by a daring spirit, a consistent will to do things differently,' says the brand's chief executive Eric Pirson, adding he is 'beyond thrilled to return to motorsport with a partner that's ready to take on the challenge'.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Wheat and corn higher, soybeans stuck near 3-week low
Wheat and corn higher, soybeans stuck near 3-week low

Zawya

time2 hours ago

  • Zawya

Wheat and corn higher, soybeans stuck near 3-week low

PARIS/SINGAPORE - Chicago wheat and corn edged higher on Friday as the cereal markets consolidated after losses this week linked to favourable U.S. and global harvest prospects. Soybeans ticked lower to hold near Thursday's three-week low, curbed by expectations of ample supplies along with uncertainty over biofuel demand as the U.S. government considers waivers for oil refiners. A firmer dollar kept grain prices in check as grain markets awaited an update on demand from weekly U.S. export sales figures later on Friday. The most-active wheat contract on the Chicago Board of Trade (CBOT) rose 0.7% to $5.37-3/4 a bushel by 1015 GMT. Corn added 0.5% to $4.49-1/4 a bushel to steady after a one-week low on Thursday. CBOT soybeans inched down 0.1% at $10.50-1/2 a bushel to consolidate above Thursday's low of $10.40. Agricultural consultancy Sovecon on Thursday raised its forecast for Russia's wheat exports for the 2025-2026 season by 1.1 million metric tons to 40.8 million tons, citing improved weather conditions for the harvest. India is likely to produce a record 117.5 million metric tons of wheat in the year ending June 2025, the farm ministry said, above its March forecast of 115.4 million tons. In the U.S., winter wheat conditions are at a five-year high despite an unexpected decline last week, while regular showers have helped most corn and soybean crops get off to a good start to their growing season. With expectations rising for Brazil's upcoming second corn crop, the corn market found little support in large export sales reported on Thursday by the U.S. Department of Agriculture. "Despite exceptional export sales reported by the USDA —amounting to 205,096 tons for the 2024/25 campaign — market support remains absent," Argus Media analysts said in a note. The soybean market was assessing a Reuters report that the White House is considering a plan to clear a record backlog of requests from small refineries for exemptions from U.S. biofuel laws. Prices at 1015 GMT Last Change Pct Move CBOT wheat 537.75 3.75 0.70 CBOT corn 449.25 2.25 0.50 CBOT soy 1050.50 -1.25 -0.12 Paris wheat 202.00 0.00 0.00 Paris maize 193.00 2.25 1.18 Paris rapeseed 474.50 2.00 0.42 WTI crude oil 61.35 0.41 0.67 Euro/dlr 1.13 0.00 -0.34 Most active contracts - Wheat, corn and soy US cents/bushel, Paris futures in euros per metric ton

Tax bill contains 'sledgehammer' for Trump to retaliate against foreign digital taxes
Tax bill contains 'sledgehammer' for Trump to retaliate against foreign digital taxes

Zawya

time2 hours ago

  • Zawya

Tax bill contains 'sledgehammer' for Trump to retaliate against foreign digital taxes

U.S. President Donald Trump would have the power to retaliate against countries that impose special digital service taxes on large U.S. technology companies like Amazon and Alphabet, under a provision in the sweeping tax bill that Congress is considering. "If foreign countries want to come in the United States and tax US businesses, then those foreign-based businesses ought to be taxed as well," said Representative Ron Estes, a Kansas Republican who helped craft the provision. Some 17 countries in Europe and others around the world impose or have announced such taxes on U.S. tech products like Meta's Instagram. Germany announced on Thursday it was considering a 10% tax on platforms like Google. The levies have drawn bipartisan ire in Washington. Democrats who oppose much of the tax bill have not spoken out against the retaliatory tax provision, found in Section 899 of the 1,100-page bill. Trump has been pressing foreign countries to lower barriers to U.S. commerce. Under the bill, Congress would empower his administration to impose tax hikes on foreign residents and companies that do business in the U.S. The U.S. Constitution gives Congress, not the president, the power to decide on taxes and spending. The provision could raise $116 billion over the next decade, according to the Joint Committee on Taxation. But some experts warned that an unintended consequence of retaliatory taxes could be less foreign investment in the U.S. "This new Section 899 provision brings a sledgehammer to the idea that the United States will allow itself to be characterized as a tax haven by anyone," said Peter Roskam, former Republican congressman and head of law firm Baker Hostetler's federal policy team. The House of Representatives narrowly passed the bill on May 22, and it now heads to the Senate. Democrats broadly oppose the Republicans' tax and spending bill, which advances many of Trump's top priorities such as an immigration crackdown, extending Trump's 2017 tax cuts and ending some green energy incentives. Section 899 would allow the Treasury Department to label the foreign tech taxes "unfair" and place the country in question on a list of "discriminatory foreign countries." Some other foreign taxes also would be subject to scrutiny. Once on the list, a country's individuals and its companies that operate in the U.S. could face stiffer tax rates that could increase each year, up to 20 percentage points. Joseph Wang, chief investment officer at Monetary Macro, said Section 899 could help Trump reduce trade imbalances because if foreign investment decreases it could depreciate the U.S. dollar. This in turn could spur exports of U.S. products by making them cheaper overseas. Portfolio interest would remain exempt from any tax Trump imposes, but some experts cautioned that taxing foreigners could quell foreign investment in the U.S. "Foreign investors may change their behavior to avoid the taxes in various ways, including potentially by simply investing elsewhere," said Duncan Hardell, an advisor at New York University's Tax Law Center. PUSH BACK TO GLOBAL MINIMUM TAX The new approach follows the 15% minimum global corporate tax deal negotiated by the administration of Democratic former President Joe Biden. Republicans, led by Representative Jason Smith of Missouri, chairman of the House tax committee, opposed that approach, arguing it unfairly benefits Chinese companies. Foreign countries have invoked that global minimum to slap higher taxes on U.S. tech firms, if they concluded that generous U.S. tax credits for research and development pushed their tax burden below that 15% threshold. Trump in February directed his administration to combat foreign digital taxes, but they were not addressed in the trade deal announced in May between the U.S. and the United Kingdom, which imposes a 2% levy on foreign digital services. It was unclear if the Treasury Department would actually use the new authority if it becomes law, or if the mere threat of action would convince other countries to change course. The department did not share its intended strategy when asked.

Global economy set to weaken amid rising uncertainty, WEF economists warn
Global economy set to weaken amid rising uncertainty, WEF economists warn

Arabian Business

time2 hours ago

  • Arabian Business

Global economy set to weaken amid rising uncertainty, WEF economists warn

Chief economists from leading global institutions have unanimously warned that worldwide economic prospects are set to deteriorate considerably for the remainder of 2025, amid 'extraordinary' levels of uncertainty driven by geopolitical tensions and policy volatility, according to a World Economic Forum report released on Thursday. The May 2025 Chief Economists Outlook, based on a survey conducted in early April among top economists, revealed that 82 per cent characterised current uncertainty levels as 'very high' – with nearly half expecting these elevated levels to persist or increase further over the next year. 'The May 2025 edition of the Chief Economists Outlook is published at a time of extraordinary volatility and uncertainty,' the WEF report stated. 'Since the beginning of the year, the global economic outlook has darkened.' Trade policy has emerged as the central driver of economic turbulence, with 97 per cent of surveyed economists identifying it as the area subject to the highest level of uncertainty globally, followed by monetary policy (49 per cent) and fiscal policy (35 per cent). A significant shift in perspective occurred since the previous survey in November 2024, with 79 per cent of chief economists now viewing recent changes to U.S. policy as part of a long-term structural shift rather than a short-term disruption, up from 61 per cent previously. 'Trade-related uncertainty in the past three months has been higher than at any time since records began in 1960,' the report stated, noting that April 2025 levels exceeded even those seen during the COVID-19 pandemic. Among the key concerns highlighted was the impact of rising tariffs, with 77 per cent of respondents expecting higher inflation and 89 per cent anticipating stagnation or decline in global trade volumes for the remainder of 2025. The regional outlook showed marked divergences, with the US economic trajectory showing the most pronounced deterioration. Nearly four out of five chief economists anticipate weak (69 per cent) or very weak (8 per cent) growth for the U.S. economy for the remainder of the year, a significant downgrade from previous expectations of moderate to strong growth. 'According to early official estimates, in the first quarter, real GDP decreased at an annual rate of 0.3 per cent,' the report noted about the U.S. economy. European prospects showed modest signs of improvement, although from a weak base after years of lacklustre growth. Half of the economists still expect growth to remain weak, but increasing fiscal flexibility, particularly in Germany, was cited as a potential driver for broader European growth. In China, while 69 per cent expect moderate growth, economists were split on whether the country would reach its 5 per cent GDP growth target for 2025, with the IMF having recently revised its forecast downward to 4 per cent. Defence spending emerged as a significant economic factor, reflecting growing geopolitical concerns. The survey found that most chief economists expect increased public borrowing (86 per cent) to finance higher military expenditure, while many also anticipate cuts to other public investment (56 per cent) and services (47 per cent). 'Shifts in the global security architecture have caused the steepest year-on-year rise in global military spending since at least the end of the Cold War,' the report said. Despite these challenges, artificial intelligence offers a potential bright spot. While only 45 per cent of chief economists expect AI to become commercially disruptive this year, a significant proportion (46 per cent) anticipate it will add up to five percentage points to global GDP over the next decade, with another 35 per cent expecting gains of 5-10 percentage points. The labour market impact of AI remains uncertain, with 47 per cent of economists forecasting net job losses over the next decade, compared to 19 per cent who predict net job gains. In response to these complex challenges, businesses are adapting rapidly. All surveyed economists (100 per cent) expect companies to reorganise sourcing and logistics to reduce exposure to tariffs or export controls, while 87 per cent anticipate businesses will delay strategic decisions and investments due to heightened uncertainty. 'At a time of profound disruption, organizations can position themselves for resilience and expansion by aligning technological innovation with a clear understanding of the broader economic landscape,' the report concluded. The survey, conducted between April 3-17, captured economists' views during a period of particularly acute trade uncertainty before several major powers announced temporary pauses to planned tariff increases in May.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store