Louis Vuitton Moët Hennessy will allocate about 1% of the 15.2 billion euros ($16.5 billion) in net profits it earned last year to support the 2024 Paris Summer Olympic and Paralympic Games. The amount of such a large donation is not official as it has not been publicly announced by France’s Champion Luxury Group, but people close to the holding company’s negotiations with the organization believe the amount is around 150 million yen. The news agency reports that the deal is valued at 10,000 euros (approximately $163 million). France Press reported. Not bad for a budget of 4.4 billion. “France and Paris have such a strong relationship for luxury brands that it makes sense in some ways that LVMH would want to be as involved as possible,” Business of Fashion website said after learning of the premium sponsorship deal. He concluded with this. [sic] The agreement was reached in July last year after months of intense back and forth over the use of the conglomerate’s brands at the Olympics. But this is not about money, it’s about values.
“As a partner, LVMH strives to add a little creativity, especially in celebratory moments…[We] We didn’t want to be just a financial partner. We wanted to play a role in hosting the Olympics,” said entrepreneur Bernard Arnault, chairman, CEO and founder of France’s Emporium (the world’s second-largest said Antoine Arnault, the eldest son of the third richest man in the world. , depending on the ups and downs of the stock market). Arnault spoke to journalists at a presentation of the first milestone of the agreement in February. The new medals that Olympic athletes will receive will be made by Chaumet, the brand’s house jeweler. It’s only natural that the company’s champagne (Moët & Chandon) and cognac (Hennessy) will also be featured at these celebratory events. But this is a story with other protagonists, people who embody the values of the cause.
LVMH added sparkle to the Olympics for the first time in September by signing a new athlete as a brand ambassador. Swimmer Leon Marchand, five-time world champion. Fencing athlete Enzo Lefort, Tokyo 2020 gold medalist. Gymnast Melanie de Jesus dos Santos, four-time European gymnastics champion. Tennis player Pauline d’Orlade, French wheelchair tennis champion. And paracyclist Marie Patouillet, who won two bronze medals at the last Paralympic Games. All of these athletes were medal candidates for their countries and stood on the Louis Vuitton (his) and Dior (hers) podiums as representatives of the “artisans of every victory” associated with this luxury brand. In fact, LMVH has been his supplier for a century, providing trophies and custom-made trunks for high-level competitions, from the World Cup to Roland Garros to the America’s Cup of Sailing. That’s not unusual for this game. The same is not true for the company’s two main brands, which have long used top athletes in their advertising campaigns. In addition to the usual soccer stars, Louis Vuitton’s men’s division signed Carlos Alcaraz as a brand ambassador last August (the world No. 2 Spanish tennis player is set to make his Olympic debut in Paris). Meanwhile, Dior’s men have just added skateboarder Aurélien Giraud and surfer Kauri Vaast to the team.
“Apart from soccer players, especially in the fashion industry, the relationship between athletes and major luxury brands has always been limited. Outside of Rolex, there are very few. [brands] Have you ever used it as an image or statement? But social media has changed the rules. Sports is a showcase for multi-million dollar audiences, and athletes are the best assets to increase brand awareness, reach more potential consumers, and acquire or strengthen your brand. [customer] It’s loyalty,” said Sean Burke, an analyst at Clarkston Consulting. It is true that the clothing industry has a long history in the Olympic field, with its leading athletes (Issey Miyake of Lithuania in Barcelona in 1992, Ralph Lauren of the United States after Beijing in 2008, Ralph Lauren of the United Kingdom) The kit was designed by Stella McCartney. The preference for athletes in advertising is a relatively new phenomenon (beyond sport-specific labels) (London in 2012, Liberia’s Telfar Clemens in Tokyo in 2020). It has also been seen in campaigns for Nike, Adidas, and Puma (Usain Bolt was one of the models for the Fall/Winter 2022-2023 collection presented in New York a few years ago). These are often seen in brands with sporty roots like Lacoste (in Paris, German gymnast Marcel Nguyen was chosen as its ambassador). And there is even legendary precedent. Jesse Owens broke records at the 1936 Berlin Games wearing an innovative model of his sneakers, Dassler, the predecessor to Adidas and Puma. But it wasn’t until athletes proved they were genuine content creators that they were able to land high-end luxury brands.
Prada fully understands this and has prioritized athletes over regular showbiz celebrities in order to realign its expansion into the Chinese market. After appointing table tennis gold medalist Ma Long as a sports ambassador, Douyin (the original Asian version of TikTok) has teamed up with shot putter Gong Lijiao, marathon runner Li Zixuan, Contracts were signed with water polo player Xiong Dunguan and basketball player Yang Shuyu. As a show of diversity that made non-normative groups visible. In the same year, Hugo His Boss took a step forward by signing Italian tennis player Matteo Berrettini not only as a model/image for his Boss line, but also as a guest designer for him. At the last Wimbledon tournament, his compatriot and courtmate Jannik Sinner became the first non-footballer to be an ambassador for the Italian brand, causing a sensation by walking on the grass carrying a monogrammed Gucci bag. Ta. Importantly, medal-winning athletes not only attract crowds beyond the playing field and on social media as positive examples associated with the sweat of self-improvement, but they also attract crowds on social media, such as in movies, television, and movies. This means that they are less likely to cause a scandal than the suspects. music. It’s no surprise that luxury brands want to be represented by them too.
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