Official news states: After months of discussions, LVMH Group announced on Monday that it will serve as a top partner to sponsor the 2024 Olympic and Paralympic Games in Paris! This will be the highest level of cooperation for the 2024 Paris Olympics. According to people familiar with the matter, LVMH Group spent a total of 150 million euros to promote this cooperation.
This announcement marks the beginning of a year-long preparation for the Olympic Games. Next year’s Olympic Games in Paris will be held from July 26 to August 11. At a meeting at the Grand Palais in Paris, LVMH Chairman and CEO Bernard Arnault, Paris 2024 Organizing Committee President Tony Estanguet, Paris Mayor Anne Hidalgo and French Sports, Olympic and Paralympic Minister Amélie Oudéa-Castéra We gathered together and discussed related sponsorship matters.
“As a French group, we consider ourselves responsible for contributing to an event that is destined to leave a deep impression on the hearts of this generation. For us, and for many others, this partnership is It’s only natural.” Antoine Arnault, who is responsible for all communications and environmental issues for the group, said he is also the chief negotiator for this sponsorship.
LVMH Group is the only luxury brand company among the top partners (sponsors) of the 2024 Paris Olympics (other sponsor partners include: French bank BPCE, telecommunications company Orange, French energy group EDF, French large supermarket group Carrefour, and French pharmaceuticals Group Sanofi), and the International Olympic Committee’s global partners include Swiss watchmaker Omega and e-commerce giant Alibaba. It is understood that LVMH Group has applied its sponsorship rights to the entire international scope during negotiations.
LVMH said in a statement: “For several months, the creative teams of Paris 2024 and the LVMH Group and its brands have been discussing a common desire to make the Olympic and Paralympic Games a time to rewrite the established rules. An unforgettable experience.”
Between now and the opening ceremony, LVMH and its brands – in particular Louis Vuitton, Dior and Berluti – will release projects sponsored by the committee, subject to approval by the committee. According to sources, Berluti will provide clothing for the French team in various events and ceremonies. It has been confirmed that Chaumet, the jewelry brand of the LVMH Group, will be responsible for Olympic and Paralympic medals; Moët Hennessy (Moët Hennessy) wine and spirits brand will provide its products as part of reception activities during the events; Sephora (Sephora) will become a partner of the Olympic torch relay and provide activity suggestions to the public. It is understood that since Omega, a subsidiary of the Swatch Group, is the official timekeeper of Olympic events, the LVMH Group’s watch brands will not participate.
During the Olympic Games, LVMH Group will provide financial assistance and clothing design to certain athletes, including swimmer Léon Marchand, who is the world record holder in the 400-meter individual medley and the French Olympic team’s best hope for medals.
As part of the partnership, LVMH will also support a program with the charity French People Relief to provide 1,000 disadvantaged children and young people aged 4 to 25 with the opportunity to participate in sport.
The scale of this cooperation reflects the huge strength of LVMH Group and its important role in the French economy: the world’s largest luxury goods group owns 75 brands, including: Louis Vuitton, Dior, Loewe, Guerlain, Dom Pérignon, And ranks first in market capitalization in the CAC 40 stock market index. This also reflects the cultural value and prestige of the brands under the LVMH Group. In June this year, Louis Vuitton held a fashion show on the iconic Pont Neuf, making Paris the protagonist of the show.
