Ferrari Names Veuve Clicquot Its 1st Lifestyle Partner
$RACE, $LVMUY, $DEO
LVMH Moet Hennessy (OTCMKT:LVMUY) extended and deepened the sponsorship tie-up for its Veuve Clicquot Ponsardin Champagne brand with Ferrari, NV (NYSE:RACE)
As well as running on for 3 more years Veuve Clicquot will be the Italian supercar manufacturing company’s first ‘Lifestyle Partner’.
The move will “strengthen both brands’ communication and event activation platforms around the world”, the French group said.
The initial sponsorship arrangement ran from the end of Y 2012 to the end of Y 2015.
Veuve Clicquot will “continue to support Ferrari in its international lifestyle events and will accompany Ferrari in its celebrations during their lifestyle events, Formula 1 races and new car launches”, the company said in a statement this week.
Financial details behind the extension, to the end of Y 2018, were not disclosed.
Last year, Moet Hennessy’s Chandon sparkling wine brand was announced as a sponsor of the McLaren-Honda Formula One team.
Moet-Hennessy is 37.5%-owned by Diageo (NYSE:DEO), whose Johnnie Walker Scotch whisky also has backed McLaren, since Y 2005.
| Symbol | Last Trade | Date | Change | Open | High | Low | Volume |
| NYSE:RACE | 42.26 | 16 Mar-2016 | 0.85 | 41.11 | 42.58 | 41.1 | 494,800 |
| HeffX-LTN Analysis for RACE: | Overall | Short | Intermediate | Long |
| Neutral (0.19) | Bullish (0.31) | Bullish (0.27) | Neutral (-0.02) |
| Symbol | Last Trade | Date | Change | Open | High | Low | Volume |
| OTCMKT:LVMUY | 34.67 | 16 Mar-2016 | -0.03 | 34.37 | 34.88 | 34.25 | 165,700 |
| HeffX-LTN Analysis for LVMUY: | Overall | Short | Intermediate | Long |
| Neutral (0.21) | Neutral (0.02) | Bullish (0.26) | Bullish (0.36) |
Stay tuned…
Paul Ebeling
HeffX-LTN
The post Ferrari Names Veuve Clicquot Its 1st Lifestyle Partner appeared first on Live Trading News.