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LVMH will sponsor 2024 Olympics in Paris

The group joins ranks with other sponsors such as banking group BPCE, pharmaceutical maker Sanofi and supermarket operator Carrefour

The head of LVMH luxury group, Bernard Arnault (centre), his daughter, Delphine Arnault, and son, Antoine Arnault, at a 2021 exhibition in Paris.
The head of LVMH luxury group, Bernard Arnault (centre), his daughter, Delphine Arnault, and son, Antoine Arnault, at a 2021 exhibition in Paris. (AFP)

Amid the growing buzz around the joining hands of sports and fashion via collaborations, LVMH is making some moves to solidify its leading position in the domain.

Earlier this week, the world's largest luxury group made an announcement about their sponsorship deal with the 2024 Paris Olympics and Paralympics.

Citing sources, a Bloomberg report said Louis Vuitton's owner is putting $166 million into the Olympic and Paralympic games, making it the biggest sponsorship commitment of any company.

Also read: LVMH partners with Epic Games to offer virtual fashion shows

Several renowned French houses within the conglomerate's portfolio, including Louis Vuitton, Dior and Berluti, are set to unveil brand-specific initiatives. Among these endeavours, they will have the opportunity to design and produce uniforms for the athletes. Moët & Chandon, famed for its iconic Dom Perignon champagne, will be the official supplier of beverages for celebratory events.

In addition, jeweller Chaumet, also part of the LVMH group, will create the medals for the Summer Games. Sephora, LVMH’s beauty retailer, will sponsor the Olympic torch relay.

The deal “will contribute to heightening the appeal of France around the world,” Bernard Arnault, chairperson and CEO of LVMH, said in a statement.

LVMH also expressed its intent to sponsor athletes, including French swimmer Leon Marchand.

The Paris Games is scheduled from 26 July 2024 to 11 August 2024. 

Earlier this monthm the French luxury goods group LVMH Moet Hennessy Louis Vuitton SE had announced a partnership with Epic Games Inc., the creator of Fortnite, to bring customers new types of immersive experiences.

“We have always been committed to innovations with the potential to bring our customers new experiences. Interactive games, which have developed into a full-fledged cultural phenomenon, are a perfect example. The partnership with Epic Games will accelerate our expertise in 3D tools and ecosystems, from the creation of new collections to ad campaigns and to our Maisons’ websites. We will also engage more effectively with young generations who are very much at ease with these codes and uses,” Toni Belloni, LVMH Group managing director, had said in a press release on its website.

Also read: How Bernard Arnault built LVMH into a global luxury empire



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