LVMH has been announced as a major partner of the Paris 2024 Olympics
The world of luxury’s biggest conglomerate will be one of the prestigious partners of both the Paris 2024 Olympic and Paralympic Games.
When the Olympic Games return to Paris in 2024, it will mark exactly one hundred years since the last time the iconic Games were hosted there. Paris will join London as the second city to have ever hosted three Games, and now in perhaps the most exciting news of all, French luxury group LVMH has recently been announced as the Games revered premium partner — the highest level of partnership.
In a deal worth 150 million euros, or just north of $245 million AUD, LVMH have further cemented their connection with the sporting world. Not shy of contributing to major French causes, the group were also significant donors to the Notre Dame rebuild also in the French capital, and marks a further foray into the thrilling world of sport.
Amongst the other partners at the level, LVMH is the sole figure in the luxury game, others include the French bank BPCE, worldwide telecommunications company Orange, as well as energy group EDF, hypermarket chain Carrefour, and Sanofi, a pharmaceutical group.
LVMH has earmarked three of its Maisons to be heavily involved in the partnership — Louis Vuitton, Dior, and Berluti, who will present the varied facets of the sponsorship deal. Given the context surrounding the announcement and the FIFA Women’s World Cup, one needs only to look back to the Men’s World Cup in 2022, which marked the fourth consecutive time Louis Vuitton partnered with FIFA to create the detailed World Cup trophy trunk.
Currently, details aren’t clear as to exactly how each of the Houses under the LVMH label will contribute to the Olympics, pending approval from the Committee. Berluti is rumoured to be dressing the French delegation across the various ceremonies in the event. What has been confirmed thus far, is that the LVMH-owned luxury jeweller Chaumet will design both the Olympic and Paralympic medals. For hospitality, Moët Hennessy wines and spirits will cater their products, and Sephora will be the partner for the Olympic torch relay. Given the non-LVMH owned Omega is the official timekeeper for the event, none of the watchmakers under the group are believed to be involved in the Olympics.
On a more detailed level, it’s understood that part of the deal involves LVMH providing financial and exclusive apparel for athletes — the only confirmed recipient is French swimmer Léon Marchand, who overnight took the last remaining individual world record from US swimmer Michael Phelps in the 400-metre individual medley.
The commitment extends beyond the tournament too. The group has committed to funding sporting programs, by joining French charity Secours populaire français, the non-profit organisation that, since 1945, has helped fight poverty and discrimination. LVMH will aid the group in funding access to sporting programs for disadvantaged children and young adults.
The announcement of the partnership represents the monumental scale that LVMH are operating even in the sporting world. With the goal of becoming the ‘Artisan of All Victories’ throughout the games, the luxury group will ensure no achievement is left properly unrewarded on sport’s most sacred of stages.