The world’s biggest luxury group, LVMH Moët Hennessy Louis Vuitton, commonly known as LVMH, has teamed up with the Paris 2024 Olympic and Paralympic Games.
Prior to the forthcoming premier event, the corporation has now become a premier partner, joining the ranks of top-tier French sponsors like banking organisation BPCE, pharmaceutical company Sanofi, and supermarket operator Carrefour.
As per the agreement, LVMH will create the medals for Paris 2024. Moreover, the luxury company will also sponsor the Olympic torch relay through its beauty boutique Sephora, which will be joined by French swimmer Léon Marchand.
According to reports, Antoine Arnault, one of LVMH CEO Bernard Arnault’s five children, was instrumental in finalising this high-profile pact that would see the business sponsor Paris 2024. The 46-year-old is LVMH’s head of image and was apparently negotiating the marketing of the company’s brands, including Louis Vuitton and Dior, in addition to its champagne offers. According to a source close to the group, the transaction cost €150 million.
According to reports, Antoine also wants to utilise the occasion to highlight LVMH’s role as a pioneer in craftsmanship and French history. The goal is to do so without displaying excessive brand logos, which may “cheapen” its image.
LVMH’s participation in Paris 2024 could result in high-profile social media and other initiatives for its main brands. A similar concept was used in November during the FIFA World Cup Qatar 2022 when football players Lionel Messi and Cristiano Ronaldo were spotted competing in a game of chess in a Louis Vuitton campaign ad.