The Formula 1 star is said to be planning to splash the cash as his on/off girlfriend of seven years joins him in Switzerland to celebrate the festive season.
According to the Daily Star Sunday newspaper, he is planning to buy her a £60,000 custom-made Tiffany diamond bracelet, a £10,000 designer handbag and a pair of Christian Louboutin shoes worth £2,300.
A source said: ''Lewis is making sure everything is just perfect for her and clearly money is no object.
''This is their first proper time together as a 'couple' again, even though they have met up privately for talks before.
''Lewis is determined not to mess this big change up and he's been planning what he's going to buy her for the big day.''
It had previously been reported he was buying the former Pussycat Dolls singer an engagement ring and while he is said to be getting a £40,000 diamond ring, it is simply to ''show a commitment''.
The insider added: ''He's even buying a ring but is being very coy about an engagement, saying 'It's to show a commitment to her, that's all.'
''He's ultra aware of Nicole saying just before they broke up that she doesn't want his money or lavish gifts - it's time and attention that really count for her.''
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