LVMH formalizes its partnership with the Olympic and Paralympic Games

The partnership between the luxury group and the Paris 2024 Olympic and Paralympic Games was announced on Monday 24 July.

LVMH is formalizing its partnership with the Paris 2024 Olympic and Paralympic Games, franceinfo learned from the luxury group on Monday 24 July. The partnership was made public on Monday at the Grand Palais Ephémère, near the Eiffel Tower, in Paris.

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The number 1 of the CAC 40 took some time to formalize this partnership which cost him 150 million euros according to estimates not denied by the group. LVMH joins the so-called premium partners, the largest, namely: Sanofi, Carrefour, EDF, Orange and BPCE. The luxury group thus becomes the sixth and last first-level partner. According to franceinfo, the terms of the contract have been negotiated, negotiated, justifying the delay before the announcement: “We didn’t want to just sign a check“, we explain to LVMH.

Being associated with a sporting event of this magnitude – which is French – is new for the group which generates more than 90% of its turnover abroad. LVMH says it wants to highlight the know-how of its brands: “This unprecedented merger will allow the artisans of the Group to bring their experience and creativity […] to organizing this celebration of top-level sport like no other“, details the group’s press release.

Visibility for Dior and Louis Vuitton

The jeweler Chaumet, for example, located on Place Vendôme, will design the Olympic and Paralympic medals. The Moët Hennessy brand will serve its wines and spirits in the festive spaces and stages of the Olympic Games. Sephora, also part of the LVMH group, will be associated with the path of the Olympic flame because these stores are present throughout the country.

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Other brands will be highlighted, such as Dior and Louis Vuitton, leading names of the group, which will therefore also be visible; we are talking about the French delegation during the opening ceremony which will take place on the Seine and which will be followed by several billion viewers, without further details for the moment. LVMH therefore hopes to democratize its image and make it popular.

It should be noted that the Total group – which initially wanted to be part of the partners of the Olympic Games – finally gave up. In 2019, after a meeting between the CEO of the oil group Patrick Pouyanné and the mayor of Paris Anne Hidalgo, Total preferred to abandon its project.

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