In 2006, Kimi Räikkönen’s McClaren engine failed part way through the classic Monaco GP. In a move that is described with glee to this day, the driver exited his vehicle, jumped the safety barrier and walked right onto his yacht to finish watching the race in comfort. It’s an iconic moment that captures the incongruous mix of drama, danger, and excess that is Formula 1. But does that proximity to luxury mean Formula 1 is a luxury brand itself?

For three-quarters of a century, Formula 1 has sped across circuits worldwide. Beyond the spectacle, the crashes and the chequered flags lies a fascinating transformation: the ascent of F1 from gritty motorsport to global luxury brand. It’s a trajectory that defies traditional conventions, a story of how speed and danger transformed into a powerhouse in the luxury world.

Initially, F1 wasn’t all champagne and caviar. Born from the unification of disparate racing bodies, the early days were characterised by wealthy enthusiasts — the first championship race at Silverstone included a Thai Prince, a Swiss Baron, and King George VI — indulging their need for speed.