Paris 2024: the LVMH group becomes one of the main sponsors of the Olympic Games
Published
Video duration: 1 minute.
The Paris Olympics require a large budget for organization. Sponsors are therefore essential. The luxury group LVMH announces a very important contract on Monday 24 July. Will it be enough to offset the ever-increasing costs, mainly due to inflation?
A ceremony was held with great fanfare to celebrate a highly anticipated partnership. Luxury group LVMH becomes one of the main sponsors of the 2024 Olympics. “LVMH is undoubtedly the most emblematic company in our country and the one that shines in the world, (…) we could not fail to be associated with this fantastic event”says Bernard Arnault, President and CEO of the LVMH group. The negotiations lasted more than a year.
150 million euros invested
According to information from France 2, the LVMH group has put 150 million euros on the table. The amount allows you to cover part of the budget linked to the partnership. Today more than 60 companies sponsor the Games, from Coca-Cola to Carrefour. 43% of the budget comes from private partnerships, 31% from ticket sales and 19% from the International Olympic Committee. In total, just to organize the Games, 4 billion and 380 million euros were spent.
Among our sources
Court of Auditors report – July 2023
Court of Auditors report – January 2023
List of partnerships for the 2024 Olympic and Paralympic Games
Non-exhaustive list
Dmitry Selyuk: It’s a pity that Schwartz left, but Cattani left and left. Let’s goodbye
Trial: Benjamin Mendy described as “predator” by the court prosecutor
They made the news. Kevin Mayer, decathlon world champion
About Author
