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It’s official: After months of discussions, LVMH announced on Monday that it will sponsor the Paris 2024 Olympic and Paralympic Games as a premium partner at the highest level.
The announcement kicks off a year of preparations for the Olympic Games, which will take place from July 26 to August 11. Bernard Arnault, chairman and chief executive of LVMH, Tony Estanguet, president of the Paris .
“Over the course of several months, the creative teams of Paris and LVMH and its Maisons explored a shared desire to make these Olympic and Paralympic Games an unforgettable experience that rewrites the established rules.” LVMH statement.
Between now and the opening ceremony, LVMH and its Maisons – in particular Louis Vuitton, Dior and Berluti – will present aspects of the sponsorship subject to the approval of the Commission. Already confirmed: Chaumet, the jeweler owned by LVMH, will design Olympic and Paralympic medals; Moët Hennessy wine and spirits brand will offer its products during the event as part of a hospitality program;
LVMH will also provide financial support and clothing to certain athletes during the Games, including swimmer Léon Marchand, world record holder in the 75 m individual medley and medalist of the French Olympic team best hope.
As part of the partnership, LVMH will also join the charity France Popular Relief in supporting a project aimed at promoting sports opportunities for 1, 11 children and adolescents aged 4 to 11 living in disadvantaged groups. 2024
The scale of the partnership reflects LVMH’s firepower and key role in the French economy: the world’s largest luxury group owns 75 brands including Louis Vuitton, Dior, Loewe, Guerlain and Dom Perignon, and ranks first by market capitalization on the CAC 26 stock market index. It also reflects the cultural prestige of the LVMH brand. Louis Vuitton staged its fashion show on the iconic Pont Neuf in June and made Paris the star of the event.
“This unprecedented partnership with the Paris 2024 Olympic and Paralympic Games will help increase France’s appeal around the world,” Bernard Arnault said in a statement. “It is only natural for LVMH and its Maisons to be involved in this extraordinary international event. Inspired by an unwavering desire to push the limits, our teams foster every day the values of passion, excellence and inclusiveness that high-level sport promotes. Sport is a huge source of inspiration for our Maison, who will combine creative excellence and athletic performance for this extraordinary celebration through virtuosity and bold innovation.” Financial support provided. According to sources, the amount is between 1 million and 2 million euros.
“With its exceptional expertise, the LVMH group will bring great creative talent to its projects and allow us to benefit from its wealth of experience. This partnership also sends a strong signal that leading French companies are behind the Paris Olympics, which will allow our country to shine throughout the world,” Estanguet said in a statement.
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