This week, a look at the upcoming release of the Formula 1 film, “F1,” as well as the brands ranging from mass to ultra-luxury apparel that have latched onto the Formula 1 phenomenon.
This Friday, the biggest movie opening in the country is expected to be “F1,” the new film featuring Brad Pitt about an aging Formula 1 driver. Formula 1 CEO Stefano Domenicali is on record saying he hopes the release of the movie, which is projected to have a $50 million opening weekend, will help grow the sport’s audience in the U.S.
But Formula 1 has been on a hot streak among American audiences for several years now, since the popular Netflix series “Drive to Survive” debuted in 2019 and introduced many Americans to the sport. Formula 1 attracted 90 million new viewers last year, with many based in the U.S. and other big markets like China.
Those markets happen to overlap with those targeted by fashion brands, so it’s no coincidence that there are more fashion collaborations with Formula 1 than ever before. With products from licensed T-shirts selling for $35 all the way up to one-of-a-kind Formula 1-inspired watches selling for over $1 million, fashion brands have continued to latch onto the sport’s growing popularity.
Watch brands in particular have taken an interest in Formula 1, with many of the biggest names like Girard-Perregaux and Richard Mille sponsoring teams. For its part, Tag Heuer recently unseated Rolex as the official sponsor of the league as a whole.
Franziska Gsell Etterlin, the CMO of luxury watch brand IWC Schaffhausen, said there’s a natural overlap between luxury watches and motorsport, both mechanically and culturally.
“Modern race cars are marvels of aerodynamics and engine technology,” Etterlin said. “[F1] is also about the competition and thrilling drama on and off the track. This mix of engineering, sport and spectacle makes Formula 1 an extraordinary phenomenon of our time. There are a lot of similarities to be drawn between F1 and watches — they’re all about precision and engineering, and pushing the boundaries.”
IWC has been the “official engineering partner” of a major Formula 1 team, the Mercedes-AMG Petronas Formula OneTM Team, since 2013. In the decade since, it has released a wide array of watches inspired by the sport. That track record continued earlier this spring, when the brand released a line of watches inspired by the upcoming film.
The collaboration goes deeper than that, though. IWC also acts as the sponsor for APX, the fictional team that Pitt’s character drives for in the movie. In a bit of defictionalization, some of the watches worn in the film are available as part of IWC’s real-life collection. IWC has also brought the stars of the film to its annual Members’ Meeting in Goodwood, and the film’s producer, Jerry Bruckheimer, appeared with IWC at Watches and Wonders this year to cross-promote the film and the brand.
Etterlin said IWC’s Formula 1 activations are part of its overall strategy of “reinventing ourselves and inspiring new generations of watch enthusiasts.” Sponsoring an F1 team is an expensive prospect. And the film brought in over $40 million in sponsorship money paid by brands like IWC and Tommy Hilfiger. But working with the league can be lucrative for brands, as well. One IWC collection with Formula 1 star Lewis Hamilton in 2023 generated nearly $8 million from the sale of fewer than 50 watches. Revenue generated by the league itself is at $3.6 billion as of this year.
And it’s not just luxury brands getting in on the Formula 1 action. Another brand working with Formula 1, at the opposite end of the price spectrum, is Pacsun. The brand has been a licensed partner of Formula 1 since 2022, renewing the deal in late 2024. Since then, it has debuted a number of licensed collections and hosted on-site events at the last two Las Vegas Grand Prix races.
“The fanbase is growing fast in the U.S., and with it, we’re seeing style become a key part of how people engage with the sport, from race-day fits and paddock looks to everyday wear,” said Richard Cox, chief merchandising officer at Pacsun. “Fans are showing their love for the sport the same way they might rep their favorite music artist or sports team through what they wear, whether or not there’s a race that day.”
Pacsun had over $900 million in sales the last time it publicly reported revenue numbers in 2022, although the company has said it has grown since then.
It may seem odd for a brand whose products can sell for low double-digit prices to pair with a luxury-adjacent sport like Formula 1, but Cox said Formula 1 is a sport with a rapidly expanding fanbase. Formula 1 now has over 825 million fans globally, and the 16 to 24 age group is its fastest growing demographic.
“We know how to speak to youth culture in a way that feels relevant, trend-forward and authentic,” Cox said. “The product we create with F1 is elevated and has a clear fashion perspective. It’s thoughtfully designed, creatively led and rooted in storytelling. We’re showing up with the right product, the right collaborators and the right voice. That’s what makes it resonate.”
Stat of the week
Prime Day, which begins on July 8, is expected to have significant impacts from tariffs this year. New data from product information tech company Akeneo found that 57% of consumers in the U.S. will have their shopping habits impacted by tariffs. Nearly 50% said they’d be more loyal to a brand that absorbed tariff costs. Most notably, 89% of consumers said they will be considering the country of origin when shopping online this Prime Day.
News to know
- Earlier this week, a series of flip-flops from the Trump administration left it unclear to what degree conflict between the U.S.. Israel and Iran persists. Trump had initially declared a ceasefire between Iran and Israel on Monday evening, only for it to be undone hours later and then seemingly reinstated by Wednesday. Regardless, the effects of prolonged tension in the Middle East will likely have several direct and indirect effects on the fashion industry.
- Jonathan Anderson will show his debut collection for Dior on Friday, and he’s already teased French soccer superstar Kylian Mbappé as a likely face of the collection. Anderson’s show will kick off not only his career at Dior, but also Paris Men’s Fashion Week, where 70 brands will showcase collections.
- Julie Bornstein, founder and CEO of The Yes, debuted her latest venture, the fashion AI discovery tool Daydream, on Wednesday. The platform, combining an LLM chatbot with Pinterest-like product discovery and saving features, features dozens of big-name fashion brands like Burberry and Stella McCartney.
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