The Miami Grand Prix Is Fashion’s Obsession

Having completed its third year, the Miami Grand Prix has finally raced to win at the checkered flag. Since its inception, the first U.S. race on the calendar has continued to find ways to build upon its initial hype. And alongside these improvements for Formula 1 fans and drivers/teams, brands in fashion, beauty and lifestyle space have only gotten more invested in attending and activating at the Grand Prix.

According to ESPN, ABC’s broadcasting of the Sunday race on May 5 was the largest number for live U.S. television on record for F1 — an average of 3.1 million viewers watched McLaren’s Lando Norris — beating out the three-time reigning World Driver Champion, Red Bull’s Max Verstappen — to win his first Formula 1 race.

This year’s viewership beat the average of 2.6 million viewers for the inaugural 2022 race and increased 48 percent compared to last year. And in-person, more than 275,000 people were in attendance across the three-day weekend’s event.

No one has seen the rapid accelerating momentum as much as Tom Garfinkel, managing partner of the Formula 1 Crypto.com Miami Grand Prix. Garfinkel also serves as vice chairman, president and chief executive officer of the Miami Dolphins and the Hard Rock Stadium.

“We’re proud of our growth and have seen it reflected through an increasing number of brands choosing the Miami Grand Prix as an event where they want 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 on race weekend. Miami has cemented itself as a curator of culture and it’s special to see that reflected across the Miami International Autodrome, as well as the city, during the Miami Grand Prix.”

One of the newest brands in the lifestyle space to join in on the Formula 1 hype is Liquid I.V., the Unilver-owned electrolyte drink mix. The California-based company partnered with the Miami Grand Prix on a multiyear collaboration as the race’s hydration partner and marking the company’s first foray into the world of Formula 1 and motorsports.

“Formula 1 is an amazing partnership for us to explore because it is operating at the intersection of sports, entertainment, hospitality,” Stacey Andrade-Wells, chief marketing officer at Liquid I.V., told WWD at the race. “It’s so engrained in the cultural zeitgeist right now and has a massive 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 has partnered with a hydration partner and saw the white space as an opportunity to do something meaningful that stays true to the pillars of Liquid I.V. and its consumer usage.

“A partnership like this is so meaningful to us because it’s high impact, high engagement,” Andrade-Wells said. “It puts us at the forefront of culture. It really allows us to enter into a sports and racing space in a more official capacity.”

While the Grand Prix was a major focal point with its Liquid I.V. Race House and general admission section, the brand looked to other areas to garner brand awareness. Liquid I.V. did a full city takeover with billboards, gave out samples inside and outside of the Paddock Club and general admissions areas, partnered with Hope Hydration to create hydration stations to allow consumers to refill their water and did their first in-field marketing with Liquid I.V.-brand cyber trucks who drove around the city to give out samples.

The Formula 1 Red Carpet: Continued Synergy With Fashion

To name just a few fashion brands who have jumped at the chance to tap the younger demographic of Formula 1 fans and its star-studded attendees, Brunello Cucinelli, Tommy Hilfiger, Palm Angels, Hugo Boss and many more strategically chose to activate at or around the race weekend.

Carla Liuni, chief brand officer at Ferrari, who has previously worked in executive roles at Pandora and Bulgari, was onsite in Miami for the unveiling of its Miami Grand Prix capsule collection and to celebrate the brand’s 70th anniversary in the U.S.

“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 this coming so quickly. It’s now become relevant to everyone, but especially younger women. It’s a place 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 world of sports and fashion.”

Certainly, Ferrari is set to become even more culturally relevant once the biggest advocate of fashion and the biggest name attached to the sport, seven-time world champion Lewis Hamilton, joins the team next year.

Around the city throughout the race weekend, experiences and events have become a key pillar for companies looking to give their consumers unforgettable moments.

Carbone Beach by American Express, payment partners of Formula 1, was heavy-attended throughout its four-day stint by the likes of Travis Kelce and race winner Lando Norris, post-win.

“Carbone is one of our card members’ most requested reservations, so it is a natural partnership to bring this fan-favorite event to Miami during race week,” said Bess Spaeth, senior vice president of U.S. premium products and membership rewards at American Express. “In its third year, ‘American Express Presents Carbone Beach,’ is a one-of-a-kind experience our card members love.”

Chase Sapphire also gave its card members memorable experiences, such as a garage tour — which is typically reserved for high-paying Paddock Club guests and VIPs — and had a Chase Sapphire lounge for all cardholders at the race.

“We want our card members to see Chase Sapphire Reserve as the key to unlocking more and having an elevated experience when they attend events and cultural moments like Formula 1 Miami Grand Prix,” said Tara Bakhle, head of marketing 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 card members excited and engaged.”

One most notable change this year was the introduction of the F1 Academy — the all-women single-seater racing championship coinciding with the Formula 1 World Champion calendar. Miami was the only race to be held in the U.S. for this year’s championship — a testament to just how quickly the Miami race has put itself on the map just three years in.

Garfinkel credits Susie Wolff’s work as manager director of F1 Academy as a continued way for the sport to attract more fans — especially with women who see more representation of themselves in the sport and who have a vested interest in women becoming Formula 1 drivers one day.

With the continued rise of the sport’s intersection with pop culture, entertainment and fashion, the red carpet that is Formula 1 will only continue to skyrocket as younger and women demographics — who are the primary drivers in shaping global economic growth, cultural moments and trends — continue to take interest.

“The growth of Formula 1 has been monumental over the last several years,” Garfinkel said. “We feel we have a responsibility to further the growth of the sport in America and with new and diverse audiences. Our guests are representative of the top echelons of sport, business, fashion, music and entertainment. Our goal is to bring people together across the landscape of industry and culture — in doing so, we believe that only furthers the boom for Formula 1 in Miami and in the U.S.”