The world’s biggest luxury group, LVMH Moët Hennessy Louis Vuitton, has announced a sponsorship deal with the 2024 Paris Olympics and Paralympics, joining the ranks of top-tier French sponsors such as banking group BPCE, pharmaceutical maker Sanofi and supermarket operator Carrefour.
Antoine Arnault, one of the heirs to the LVMH empire, confirmed the deal during a news conference also attended by International Olympic Committee President Thomas Bach, Paris 2024 chief organizer Tony Estanguet, Paris Mayor Anne Hidalgo and France’s sports minister, Amelie Oudea-Castera.
“The Games are an opportunity to make France shine,” Arnault said as he made the official announcement.
LVMH is led by Arnault’s father, Chairman and CEO Bernard Arnault. Its collaboration with the Games will include various company brands like Louis Vuitton, Dior, Moet Hennessy and Chaumet.
Prestigious jeweller Chaumet will design the medals for the Games, and the French athletic delegation will wear clothes from one of LVMH’s fashion houses. Sephora, LVMH’s beauty retailer, is sponsoring the Olympic torch relay.
The group also plans to sponsor athletes, including French swimmer Léon Marchand, and its beauty retailer Sephora will sponsor the Olympic torch relay, LVMH revealed. The French delegation will also be dressed by one of LVMH’s “maisons.”
CNN reports that the deal is expected to cost around 150 million euros (NZ$267 million) and include promotions centred on the group as well as its largest fashion and champagne brands, a person close to the negotiations shared in May.
The luxury group posted on their Instagram page, announcing the 2024 partnership. “LVMH joins forces with @paris2024 by becoming a Premium Partner of the Olympic and Paralympic Games, in an unprecedented creative burst.
“Paris 2024 will entrust several essential roles to artisans from the LVMH Group, including the design of the Olympic and Paralympic medals by @chaumetofficial@moethennessy wines and spirits Maisons will provide their exceptional products as part of hospitality programs. @sephora will be a partner for the Olympic Torch Relay.
“Between now and the opening ceremony, LVMH and its Maisons – in particular @louisvuitton, @dior and @berluti – will present, with approval from Paris 2024, the different aspects of their engagement, enabling LVMH to become the ‘Artisan of All Victories’.”
The specific terms of the deal were not disclosed.
Source : NZHerald