Press "Enter" to skip to content

LVMH Is Officially Sponsoring the 2024 Olympics

Antoine Arnault

Photo: Julien De Rosa/Getty Images

LVMH is officially a Premium Partner of the Paris 2024 Olympics. The fashion conglomerate’s executives, along with Olympic Committee, struck this highly anticipated deal (previously estimated to cost the luxury giant $166 million) with the summer games only a year away.

As part of the deal, artisans from LVMH’s portfolio of brands will participate directly in aspects of the games: Jeweler Chaumet will design the Olympic and Paralympic medals. Moët Hennessy wines and spirits Maisons (its roster also includes brands like Belvedere Vodka and Veuve Cliquot) will be served at Paris 2024 events, while Sephora will host various public activations throughout the Olympic Torch Relay.

“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,” Chairman and CEO of LVMH Bernard Arnault said in the release.

LVMH fashion houses — specifically Louis Vuitton, Dior and Berluti — will present “the different aspects of their engagement” between now and the opening ceremony, according to the press release, “enabling LVMH to become the ‘Artisan of All Victories.'” LVMH will also directly support certain athletes, like 21-year-old swimmer Léon Marchand who “is a leading medal hope for the French Olympic team.”

“LVMH already supported us during our bid for the Summer Olympics, and we are thrilled to have the Group with us 100% for this exciting adventure,” President of the Paris 2024 Olympic Committee Tony Estanguet said in a statment. “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.”

With soaring quarterly revenues, the largest luxury conglomerate started 2023 in the green before reaching this anticipated partnership. Beyond providing a massive world stage for its Maisons, the arrangement also seems to signal a greater commitment by LVMH to the world of athletics. 

The company also announced plans to double down on supporting sports initiatives as part of this partnership. Namely, it’s working with Secours populaire français, a French charity, to “provide funding for sports association memberships, training programs and beginner classes” for 1,000 children ages four to 25 who “live in vulnerable situations.”

Want the latest fashion industry news first? Sign up for our daily newsletter.


Source: Fashionista.com

Be First to Comment

    Leave a Reply

    Your email address will not be published. Required fields are marked *