F1 News: Charles Leclerc Makes Huge Jump With Luxury Investment

The Monegasque driver is keen to enjoy his passion for luxury watches.

Formula 1 driver Charles Leclerc, known for his keen performance with Ferrari, is making moves off the circuit as well as on. The Monegasque, alongside his brother Lorenzo, has ventured into the luxury market with a significant investment in Chrono24, a leading online marketplace for luxury watches. While the exact figure of the investment is undisclosed, the move marks a notable diversification for Leclerc's burgeoning entrepreneurial portfolio.

Chrono24 isn't new to celebrity and high-profile investments. The platform previously welcomed investments from sports icon Cristiano Ronaldo in 2023, and from powerful business forces like Bernard Arnault’s Aglae Ventures, General Atlantic, Insight Partners, and Sprints Capital—the latter leading a substantial funding round in August 2021 that raised $118 million, skyrocketing the company's valuation to over $1 billion and securing its status as a unicorn company.

The Scuderia driver, who recently celebrated a victory at the illustrious Monaco Grand Prix, is currently second in this year's F1 championship standings behind Max Verstappen. His success on the track parallels his off-track ventures, highlighting a year of significant professional achievements. Helping him navigate these waters is his brother Lorenzo, with whom he established All Time, a family office dedicated to managing athletes' business interests.

“The watch world has long captivated me as one of my many passions,” Charles Leclerc shared. “There’s a real unification between watch lovers around the world, and my brother and I are excited to be an even deeper part of that community through our investment involvement with Chrono24.”

Chrono24's recent leadership transition saw Carsten Keller stepping in as chief executive in December 2023. Keller expressed his enthusiasm about the Leclerc brothers' involvement, emphasizing the synergy between their passion for watches and their business acumen.

“We are extremely proud to welcome Charles and Lorenzo into our Chrono24 adventure,” stated Keller. “These brothers are highly esteemed and share our passion for watches as well as our company’s drive for excellence. Their savvy is formidable, and together, we are poised to reach new all-new heights.”

The partnership between the Leclerc brothers and Chrono24 is not just a business transaction but a fusion of passions—a characteristic that seems to be increasingly common as the worlds of luxury brands and celebrity influence continue to intertwine. This fusion not only elevates brand prestige but also expands market reach, setting a precedent in both the luxury and sports industries.

As Charles and Lorenzo Leclerc delve deeper into the world of luxury watches, they bring a unique blend of celebrity allure and entrepreneurial spirit to an already thriving marketplace. This collaboration underscores how top-level athletes can influence and transform industries far beyond their athletic endeavors, bridging gaps between various sectors and leveraging their fame for business success. Such movements are indicative of a broader trend where modern athletes engage in multifaceted careers, shaping their legacies inside and outside their primary fields of expertise.