French luxury group LVMH has officially partnered with the Paris 2024 Olympic and Paralympic Games, solidifying its position as the sixth and final Premium sponsor of the event. The announcement was made during a press conference at the Grand Palais on July 24th.
Bernard Arnault, Chairman and CEO of LVMH, expressed his excitement about the partnership in a press release, stating that it will not only promote France on a global scale but also aligns perfectly with the values cherished by LVMH and its Maisons. He emphasized the shared values of passion, excellence, and inclusivity between high-level sports and LVMH’s teams, who constantly strive to push their limits. Arnault believes that sports serve as an endless source of inspiration for their Maisons, who will bring creative brilliance and sporting achievements together in this exceptional celebration of the Olympic and Paralympic Games.
By becoming the sixth and final Premium partner, LVMH joins esteemed companies like BPCE, Carrefour, EDF, Orange, and Sanofi. While the exact financial details of the partnership remain undisclosed, estimations suggest that the transaction amount could reach approximately €150 million.
LVMH’s involvement in the Paris 2024 Games goes beyond financial support. Antoine Arnault, Head of Image and Environment at LVMH, has revealed that several Maisons within the group will actively participate in organizing the event. This includes the potential contribution of three fashion brands, namely Berluti, Christian Dior, and Louis Vuitton, in designing outfits for the French athletes. Moreover, cosmetics retailer Sephora is expected to lend its support to the Olympic torch relay, while Moët Hennessy brands will play a role in the hospitality aspect of the Games. Chaumet, the jewelry brand, has already begun working on the design of the medals, which will be struck by the Monnaie de Paris.
LVMH also plans to appoint various athletes as ambassadors for the Games. One of the names mentioned is Léon Marchand, the recent winner of the 400-meter individual medley at the Fukuoka World Championships and a world record holder.
In addition to their participation in the Games, LVMH has also announced a partnership with Secours Populaire, a French humanitarian organization. This collaboration aims to fund 1,000 sports licenses, training programs, and initiations for young people facing precarious situations. The initiative intends to provide underprivileged youth with opportunities to engage in sports activities, encouraging their personal growth and well-being.
Useful links:
1. Paris 2024 Official Website
2. Secours Populaire Official Website
