It’s not often that you get to witness the worlds of sport and fashion come together, but when they do, it is sure to be impactful. Yesterday, on July 24, the world’s biggest luxury group LVMH Moët Hennessy Louis Vuitton, announced a sponsorship deal with the 2024 Paris Olympics and Paralympics, which are set to begin exactly a year from now. LVMH has become a Premium Partner of this global event, which resonates with the Group’s mission, ‘The Art of Crafting Dreams’, and echoes the vision of Paris 2024.
The deal, estimated to be worth €150 million, will see the brand join the ranks of top-tier sponsors such as banking group, BPCE; pharmaceutical multinational, Sanofi; and supermarket operator, Carrefour. The announcement was made by Antoine Arnault, one of the heirs to the LVMH empire, at a press conference that was attended by International Olympic Committee president, Thomas Bach; Paris 2024 chief organiser, Tony Estanguet; Paris Mayor, Anne Hidalgo; and France’s sports minister, Amelie Oudea-Castera. Led by Arnault’s father, Chairman and CEO Bernard Arnault, LVMH’s association with the Games (to be held between July 26 and August 11 in 2024) will include various company brands like Louis Vuitton, Dior, Moet Hennessy, and Chaumet.
The announcement marks the first time that Europe’s biggest company (by market value) will be a sponsor at the group level. Controlled by the family of billionaire Bernard Arnault, LVMH usually has even before signed sponsorship deals in sports, but it has always been for individual brands from its stable of 75 brands: Vuitton is backing the 2023 Rugby World Cup in France, while Christian Dior designs formalwear for Paris Saint-Germain football players.
Paris 2024 will see the best from the LVMH group display their expertise. To begin with, iconic Paris jeweller with centuries of heritage, Chaumet will apply its savoir-faire to design the medals—the ultimate reward for athletes for their commitment to performance and hard work. Sephora, LVMH’s beauty retailer, will be a partner for the Olympic Torch Relay, proposing activations for the public all along the relay route, as well as at Group locations along the itinerary and at stops. Moët Hennessy, wines and spirits Maisons will provide their exceptional products as part of hospitality programmes during the Olympic and Paralympic Games and will help ensure a quality experience for guests. Last and not the least, the French athletic delegation will wear clothes from one of LVMH’s fashion houses.