LVMH Wins Paris Olympics Sponsorship Deal

Luxury giant LVMH unveiled on Monday a deal to sponsor next year’s Olympic Games in Paris with top fashion brands Louis Vuitton and Dior, Moët Hennessy champagne and spirits labels, and jeweler Chaumet, which will design medals for the event, Reuters reported.

Photo Insert: With the Olympics now only a year out, the negotiations between the Paris 2024 Organizing Committee and the world’s biggest luxury group, Europe’s most valuable company, have generated much interest in France.

The group will also sponsor athletes, including French swimmer Léon Marchand, and its beauty retailer Sephora will sponsor the Olympic torch relay, LVMH said. 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, CNN also reported.

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 negotiations between the Paris 2024 Organizing Committee and the world’s biggest luxury group, Europe’s most valuable company with a market capitalization of more than 400 billion euros ($443 billion), have generated much interest in France.

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