LVMH sponsors Paris Olympic Games.

LVMH to Sponsor Paris Olympics with Top Fashion Brands

Luxury⁤ giant LVMH has announced an exciting deal to sponsor next year’s Olympic Games​ in Paris. The sponsorship will feature ‌renowned fashion brands Louis Vuitton and Dior, ​as well as Moet Hennessy champagne and ​spirits labels and jeweller Chaumet. In ​addition,⁤ Chaumet will design the medals for the event.

The group will also sponsor athletes, including French swimmer Leon⁤ Marchand, and its beauty retailer Sephora will sponsor the Olympic‍ torch relay, according to LVMH.‌ The⁤ French delegation will be dressed by one ​of ‍LVMH’s “maisons”.

Terms of the deal, which was negotiated by Antoine Arnault, one of the five⁢ children and heirs of LVMH Chairman and CEO Bernard Arnault, were not revealed.

It has been expected to cost around 150 million euros ($166‌ million) and involve promotions focused on the group as well as its⁤ largest fashion and champagne labels, a person close to the negotiations said in​ May.

“The Games are‍ an‍ opportunity ‍to make France shine,” Antoine Arnault said‌ as he made the official announcement.

With the⁣ Olympics now only a ‌year out, the late-stage ⁢negotiations between the ​Paris‍ 2024 Organising Committee and ‌the world’s ⁣biggest luxury group, which is also Europe’s most ​valuable company with a market capitalisation of more than⁤ 400 billion euros, have generated much interest‌ in France.

On the sidelines of LVMH’s⁢ annual shareholder meeting⁤ in April, Antoine Arnault anticipated the opening ceremony, which will be staged along the river Seine and not in a stadium, could be the most-watched event in the history of the Olympics.

But the partnership may ‌also carry risks.

The ​run-up to an Olympic Games can become mired ⁤in global geo-politics and controversies over ⁤domestic matters can attract scrutiny, such as China’s rights record ahead of‌ the Beijing Games. A​ row over the participation of Russian and⁤ Belarus athletes has already cast a shadow over Paris 2024.

Closer to home,⁣ months of sometimes-violent street protests over a raising of the retirement age ‍and a wave of nationwide rioting following the⁢ police killing of a ‌teenager of‍ north African descent have cast a spotlight on France’s volatile social climate.

Other sponsors of the global ​sporting showpiece include⁢ Airbnb, Alibaba, Coca-Cola and Toyota.

($1 = 0.9028 euros)

(Reporting by Mimosa‌ Spencer, editing ⁣by ​Silvia Aloisi, Tomasz Janowski, Richard Lough)

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