The Olympics are a luxury brand's dream: a look at how LVMH and others are getting involved

Luxury group LVMH (Louis Vuitton Moët Hennessy) have signed a lucrative deal to sponsor the Paris Olympics 2024. It is believed to bridge the budget gap for the organisers who pledged to keep tax-payers funding to a minimum as they would lean more towards private sectors. 

The CEO of the French company Bernard Arnault didn’t disclose the exact amount for the agreement but sources claim the figure is estimated around 150 million euros. According to the Financial Times it is the first time Europe’s biggest company sponsor at group level as the company usually has such deals within the group's 75 brands. Bernard reportedly said “It is only natural that LVMH and its Maison's would be part of this exceptional international event.”

Other brands from the LVMH group and working with the Paris Olympics are: Jeweller Chaumet who are designing the medals, beauty retailer Sephora will be the partner for the Olympic Torch relay and champagne label Moët Hennessy will supply hospitality venues across the city. It is also rumoured that one of the fashion brands - which include Louis Vuitton, Prada, Gucci and Loewe - from the luxury group will dress the athletes. 

It’s not the first time we have seen luxury brands join forces with sports events and sports stars. Louis Vuitton first partnered with the Rugby World Cup when a case was created to hold the “Webb Ellis Cup” for the 2015 tournament. Now the luxury brand has designed a travel case for the 2023 Rugby World Cup in France which starts in September. 

When fashion brands meet sporting events the usual suspects are Adidas, Nike, and Reebok which have collaborated with major fashion houses and designers in the past such as the Mo Salah and Adidas x Gucci collection and Marcus Rashford and Burberry. With Christian Dior designing formalwear for Paris Saint-Germain football players.

Forget fashion influencers, more and more luxury brands are turning to professional athletes to help with their ad campaigns. Wimbledon men’s finals winner Carlos Alcaraz has secured brand deals with Rolex, Calvin Klein and Louis Vuitton. 

Kylian Mbappé, was appointed Dior official ambassador in December of 2021 and Jack Grealish signed with Gucci as official brand ambassador in April 2022.