Business · Companies · 4 hrs ago

Moët & Chandon links luxury with sustainability and Formula 1

Moët & Chandon links luxury with sustainability and Formula 1

Moët & Chandon CEO Sybille Scherer says luxury must respond to sustainability concerns and changing cultural tastes while preserving the brand's identity.

Scherer made the comments during a visit to Mexico for the Formula 1 Grand Prix, as the champagne maker returned to the sport.

The partnership is part of a 10-year global agreement between Formula 1 and LVMH, which owns Moët & Chandon.

The brand's link with racing began in 1950, when a bottle was offered to the winner of the French Grand Prix.

Champagne has been part of Formula 1 celebrations for more than 70 years, including the drivers' cooldown room and the podium.

Scherer says the company is investing in sustainability, including biodiversity, because its product depends on the land and the Champagne region in France.

The partnership is in its second year, and the company says it wants to remain relevant to both longtime customers and younger generations.

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What people are saying

Sybille SchererMoët & Chandon CEO
Luxury has to respond now to a society that is very demanding about refinement, but is also aware of sustainability challenges and new cultural expressions.
via El Economista MX
We care a great deal about biodiversity and devote time and resources to it; without it, we could not make our product.
via El Economista MX
Régine ErvitiMoët & Chandon president for Latin America and the Caribbean
Mexico is one of Moët & Chandon’s two most important markets in Latin America.
via El Economista MX