After completing its third year, the Miami Grand Prix has finally raced to victory at the checkered flag. Since its inception, the first American race on the calendar has found ways to build on its initial hype. And alongside these improvements for Formula 1 fans and drivers/teams, brands across the fashion, beauty and lifestyle sectors have only become more invested in attending and activating the Grand Prix.
According to ESPN, ABC’s broadcast of the race on Sunday, May 5, was the largest ever live U.S. television broadcast for Formula 1, with an average of 3.1 million viewers watching McLaren’s Lando Norris beat three-time reigning world champion Red Bull’s Max Verstappen to win his first Formula 1 race.
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This year’s viewership surpassed the 2.6 million average for the inaugural 2022 race, up 48 percent from last year. And more than 275,000 people attended in person over the three-day weekend event.
No one has seen the rapidly increasing momentum better than Tom Garfinkel, managing partner of the Formula 1 Crypto.com Miami Grand Prix. Garfinkel is also vice chairman, president and CEO of the Miami Dolphins and Hard Rock Stadium.
“We’re proud of our growth and have seen that reflected in an increasing number of brands choosing the Miami Grand Prix as an event to activate or launch new products,” Garfinkel told WWD. “Ferrari unveiled their blue livery and uniform to mark the 70th anniversary of the manufacturer’s presence in North America, and the Tag Heuer collaboration with Kith was launched from their Miami stores during race weekend. Miami has established itself as a curator of culture and it’s exciting to see that reflected at the Miami International Autodrome, as well as across the city, during the Miami Grand Prix.”
One of the latest brands in the lifestyle space to jump on the Formula 1 bandwagon is Liquid IV, the electrolyte drink mix from Unilever. The California-based company entered into a multi-year partnership with the Miami Grand Prix as the race’s hydration partner, marking the company’s first foray into the world of Formula 1 and motorsports.
“Formula 1 is a great partnership for us to explore because it operates at the intersection of sports, entertainment and hospitality,” Stacey Andrade-Wells, vice president of marketing at Liquid IV, told WWD during the race. “It’s so ingrained in the cultural zeitgeist right now and has such a huge global footprint. There’s so much passion and energy in the fan base.”
Andrade-Wells noted that this was the first time the Miami Grand Prix had collaborated with a hydration partner and saw the white space as an opportunity to do something meaningful that stays true to the pillars of Liquid IV and its consumer use.
“A partnership like this is so meaningful to us because it has a big impact and involvement,” Andrade-Wells said. “It puts us at the forefront of the culture. It really allows us to enter the world of sports and racing in a more official capacity.”
While the Grand Prix was a major focus with its Liquid IV Race House and general admission area, the brand looked to other areas to build brand awareness. Liquid IV took over the city with billboards, gave out samples inside and outside the Paddock Club and general admission areas, partnered with Hope Hydration to create hydration stations for consumers to refill their water, and did their first in-field marketing with Liquid IV-branded cybertrucks driving around the city handing out samples.
The Formula 1 red carpet: continuous synergy With Fashion
To name just a few fashion brands that have seized the opportunity to appeal to the younger target group of Formula 1 fans and the stars in attendance: Brunello Cucinelli, Tommy Hilfiger, Palm Angels, Hugo Boss and many more have strategically chosen to be active during or around the race weekend.
Carla Liuni, Chief Brand Officer at Ferrari, who previously held leadership roles at Pandora and Bulgari, was on site in Miami for the unveiling of the Miami Grand Prix capsule collection and to celebrate the brand’s 70th anniversary in the US
“Formula 1 is the next red carpet,” Liuni told WWD at the Faena Hotel, which Ferrari took over for the race weekend and brand festivities. “We didn’t see it coming so quickly. It’s become relevant to everyone now, but especially to younger women. It’s a place where you want to be seen, it’s become cool. Ferrari has always been a culturally relevant brand in movies and music. Today, the world is quite fluid. There’s no compartmentalization between the worlds of sports and fashion.”
It is certain that Ferrari will become even more relevant on a cultural level when fashion’s greatest advocate and the sport’s biggest name, seven-time world champion Lewis Hamilton, joins the team next year.
During the race weekend, experiences and events in the city have become important pillars for companies that want to give their customers unforgettable moments.
American Express’ Carbone Beach, Formula 1’s payment partner, was heavily attended by drivers such as Travis Kelce and race winner Lando Norris after his victory during the four days of the event.
“Carbone is one of our Card Members’ most requested reservations, so it’s a natural partnership to bring this favorite event to Miami during race week,” said Bess Spaeth, senior vice president of U.S. premium products and member rewards at American Express. “Now in its third year, ‘American Express Presents Carbone Beach’ is a one-of-a-kind experience that our Card Members love.”
Chase Sapphire also offered its ticket holders unforgettable experiences, such as a tour of the garage, normally reserved for high-paying Paddock Club guests and VIPs, and had a Chase Sapphire lounge for all ticket holders at the race.
“We want our Cardmembers to see Chase Sapphire Reserve as the key to unlocking more and having an elevated experience when they attend events and cultural moments like the Formula 1 Miami Grand Prix,” said Tara Bakhle, Chief Marketing Officer at Chase Sapphire. “This was our second year at Race Week in Miami, so it was important that we continued to evolve our approach and offerings to keep our Cardmembers excited and engaged.”
One of the most notable changes this year was the introduction of the F1 Academy – the all-female single-seater racing championship that runs alongside the Formula 1 World Championship calendar. Miami was the only race held in the US this year – a testament to how quickly the Miami race has put itself on the map in just three years.
Garfinkel believes that Susie Wolff’s work as managing director of the F1 Academy is one way the sport is attracting more fans. Women in particular see themselves more represented in the sport and have a vested interest in women becoming Formula 1 drivers one day.
As the sport increasingly connects with pop culture, entertainment and fashion, the Formula 1 red carpet will only become more popular as interest from young people and women (who are the main drivers of global economic growth, cultural moments and trends) continues to grow.
“The growth of Formula 1 has been monumental over the last few years,” Garfinkel said. “We feel we have a responsibility to continue to grow the sport in America and with new and diverse audiences. Our guests represent the elite of sports, business, fashion, music and entertainment. Our goal is to bring together people from across the industry and cultural landscape. By doing so, we believe we will only further fuel the growth of Formula 1 in Miami and across the U.S.”
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