The event was established as the Ormond Memorial in 1955. Originally, the race was held on the second day of the autumn carnival. It maintained this schedule until the 1985/86 season, when the fixture was moved to the Spring. The race is held in the Hawke's Bay region, where weather conditions typically ensure excellent track surfaces.
The race underwent significant structural changes in the 1990s. In 1991, Kelt Capital Limited began a long-term sponsorship of the event under the direction of owner Sam Kelt, a prominent supporter of racing in New Zealand and Hawke's Bay. During this period, the race was known as the Kelt Capital Stakes. In 1996, the event achieved Group 1 status, and the official distance was adjusted from 2,000 metres to 2,040 metres.
The first decade of the 2000s saw a rapid escalation in prize money, making the race one of the most significant in the Southern Hemisphere. In 2000, the stake was $250,000. By 2002, it reached $500,000, making it the equal richest race in New Zealand. In 2004, the Spring Classic became the first million-dollar race in New Zealand.
The prize pool peaked at $2,000,000 in 2007 and 2008. However, this level was deemed unsustainable, leading to a reduction to $1,200,000 in 2009. Following the conclusion of the Kelt Capital sponsorship in 2010, the stake was further reduced to $250,000. Despite the decrease, it remained slightly ahead of other major New Zealand weight-for-age races at that time.
The race is the anchor of the Hastings Triple Crown, following the 1,400-metre Proisir Plate (formerly the Tarzino Trophy, Makfi Challenge Stakes, and Mudgway Stakes) and the 1,600-metre Howden Insurance Mile (formerly the Windsor Park Plate, Stony Bridge Stakes, and Arrowfield Stud Plate).
While many of New Zealand’s premier thoroughbreds won two of the three legs or finished second in the final race, the Triple Crown remained elusive for decades. On 5 October 2019, Melody Belle became the first horse in history to win all three races in the Hawke's Bay Triple Crown series.
The race has been won by several horses recognized as New Zealand Horse of the Year, including Balmerino (1977), La Mer (1978, 1979), Jimmy Choux (2011), and Xcellent (2005). Melody Belle, who won the race in 2019 and 2020, retired with 14 Group 1 victories.
Other notable winners have used the race as a springboard to international success in Australia. Redcraze, the 1955 winner, went on to win the Caulfield Cup and Cox Plate. Solvit (1994) also secured a Cox Plate victory, while Veandercross (1992) was named the 1993 Australian Champion Racehorse of the Year. Castletown, a New Zealand Racing Hall of Fame inductee, won the race in 1991 amidst a career that included three Wellington Cups.
The race has operated under several names due to sponsorship and memorial designations:
Ormond Memorial (1955–1990)
Kelt Capital Stakes (1991–2009)
Kit Ormond Memorial (2010) — named in recognition of Lady Katherine (Kit) Acklin née Ormond.
NZB Insurance Spring Classic (2011–2012)
The Turks Spring Classic (2013)
Livamol Classic (2014–present)
The event's grading has evolved from a standard Stakes Race (1955–1978) to Group 3 (1979–1992), Group 2 (1993–1995), and finally Group 1 from 1996 onward.