Luxury companies will be sponsors of the Paris 2024 Olympic Games

The deal was closed last month

For next year, for the 2024 Olympic and Paralympic Games in Paris, the LVMH group has signed a historic agreement to sponsor professional sports matches. The measure determines that the company will be named as a “premium” partner, in which it will be presented in specific actions.

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“This unprecedented partnership with the Paris 2024 Olympic and Paralympic Games will contribute to increasing France’s appeal around the world. It was natural for LVMH and its Maisons to be part of this exceptional international event. The values of passion, excellence and inclusivity championed by top-level sports are nurtured daily by our teams, driven by an unwavering desire to push boundaries,” said Bernard Arnault, President and CEO of the company.

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The agreement between the International Olympic Committee (IOC) and the brand began to be speculated at the beginning of April and at the end of July they had their approvals. Sponsorship will work in such a way that companies that are part of LVMH are responsible for specific parts of the competition.

Fashion partners Louis Vuitton and Dior will provide champagne and spirits for the victory celebrations in each category, jeweler Möet Hennessy will be responsible for medals for the competitions and, in addition, the retail store Sephora will carry out activations during the course of the Olympic torch.

Previously, the LVMH conglomerate had already carried out partnerships and individual sponsorships in several sporting events, however, this time, it will be the first time that the group will be involved as a whole in the 2024 Olympic and Paralympic Games, in Paris. Orange, telecommunications and Carrefour were also confirmed as major sponsors.

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