Luxury brand giant LVMH signed on as a premium partner for the Paris 2024 Olympic and Paralympic Games with its jeweler Chaumet designing the medals and fashion brands Louis Vuitton, Dior, Berluti and Sephora, as well as its Moët Hennessy wines and spirits division marketed during the games.
LVMH’s beauty chain Sephora will sponsor the Olympic torch relay while the French delegation will wear one of its “Maisons” (houses).
LVMH will also sponsor athletes, including French swimmer Léon Marchand, who broke Michael Phelps’ last individual world record, paving the way for brand ambassador contracts with LVMH’s houses.
While LVMH did not disclose the partnership’s financial terms, reports put the cost at €150 million.
“This unprecedented partnership with the Paris 2024 Olympic and Paralympic Games will contribute to heightening the appeal of France around the world. It was only natural that LVMH and its Maisons be part of this exceptional international event. The values of passion, excellence and inclusion championed by high-level sports are cultivated each day by our teams, motivated by an unwavering desire to surpass limits. Sports is a tremendous source of inspiration for our Maisons, which will unite creative excellence and athletic performance by contributing their savoir-faire and bold innovation to this extraordinary celebration,” said Bernard Arnault, chairman and chief executive officer of LVMH.
“From the very outset of our project, we have wanted the Paris 2024 Olympic and Paralympic Games to contribute to promoting the image of our country and France’s many remarkable talents. Today, with the LVMH Group, Paris 2024 has taken a decisive step forward. LVMH already supported us during our bid for the Summer Olympics, and we are thrilled to have the Group with us 100 percent for this exciting adventure. With its exceptional know-how, the LVMH Group will bring its immensely creative talent to this project and enable us to benefit from its extensive experience. This partnership also sends a powerful signal that France’s leading businesses are behind the Paris 2024 Games, which will let our country shine brightly around the entire world. We want to thank the LVMH Group and its artisans for their confidence and their active engagement. Together we are going to make the Paris 2024 Games a truly exceptional experience,” said Tony Estanguet, president of the Paris 2024 Olympic Committee.
LVMH controls around 60 subsidiaries that manage 75 luxury brands, including Tiffany & Co., Christian Dior, Fendi, Givenchy, Marc Jacobs, Stella McCartney, Loewe, Loro Piana, Kenzo, Celine, Sephora, Princess Yachts, TAG Heuer, and Bulgari.
Photo courtesy LVMH by Philippe Servant
