What you need to know about the massive LVMH deal with the Paris Olympics
LVMH has announced a significant partnership with the 2024 Olympic and Paralympic Games in Paris.
The luxury goods conglomerate – which owns brands including Louis Vuitton, Fendi, Tiffany & Co, Moët & Chandon, Hennessy and Dom Perignon – unveiled the news one year ahead of the XXXIII Summer Olympics, set to begin on 26 July 2024.
The partnership will include providing products for Olympic events, crafting medals and sponsoring athletes.
LVMH joins forces with @Paris2024 by becoming a Premium Partner of the Olympic and Paralympic Games, in an unprecedented creative burst.
Learn More: https://t.co/LV8GVeRtwg#LVMH #Paris2024 #ArtisanDeToutesLesVictoires pic.twitter.com/sj8FOVfttt
— LVMH (@LVMH) July 25, 2023
Bernard Arnault, Chairman and CEO of LVMH, said: “It was only natural that LVMH and its maisons be part of this exceptional international event.
“Sport is a tremendous source of inspiration for our maisons, which will unite creative excellence and athletic performance by contributing their savoir-faire and bold innovation to this extraordinary celebration.”
The first athlete to receive LVMH sponsorship is swimmer Léon Marchand.
A medal contender for France, the 21-year-old has won three world champion titles and is the world record-holder of the 400-metre individual medley.
Sephora will be a partner for the Olympic Torch Relay, while Moët Hennessy wines and the LVMH spirit brands will provide beverages for the Games’ hospitality program.
Parisian jeweller Chaumet will design the Olympic and Paralympic medals, and luxury fashion labels Louis Vuitton, Dior and Berluti will lend their expertise in the run-up to the event.
LVMH has also committed to expanding its charitable efforts, starting with an initiative with longstanding non-profit partner Secours Populaire Francais.
The scheme will facilitate access to sports for 1,000 children and young people aged four to 25 who live in vulnerable situations via funding for sports association memberships, training programs and beginner classes.
Tony Estanguet, President of the Paris 2024 Olympic Committee, said: “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.
“With its exceptional know-how, the LVMH Group will bring its immensely creative talent to this project and enable us to benefit from its extensive experience.”
LVMH jewellers and leather goods brands have a long history of creating trophies and travel cases for major sporting competitions.
The Super Bowl and US Open trophies are created by Tiffany & Co, while the leather trunks that house the World Cup, NBA Championship and Monaco Grand Prix trophies are all made by Louis Vuitton.
