Each week, a deal is selected that illustrates the themes driving change in the sports industry. They may not always be the largest deals in value or those of the highest profile, but they tell us where the leading players are focusing their efforts and why. Our thematic deal coverage is driven by our underlying Disruptor data that tracks all major deals across our sectors.

The deal

Earlier this week, French conglomerate LVMH entered into a multi-faceted commercial agreement with the organizers of the Paris 2024 Olympic and Paralympic Games in the country’s capital.

As part of the partnership, LVMH’s watch company Chaumet will design the Olympic and Paralympic medals, while its wine and spirits brand Moët Hennessy will offer products as part of hospitality packages during the Games.

In addition, the French delegation will be dressed by one of LVMH’s “maison” luxury fashion houses.

The Paris 2024 Olympics are scheduled to start on July 26 next year and will run until August 11.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Why it matters

It is understood LVMH is pouring €150 million ($166 million) into the Games, the biggest financial sponsorship commitment of any company. 

LVMH becomes the sixth top-tier domestic sponsor alongside communications firm Orange, electricity provider EDF, banking group BPCE, pharmaceuticals company Sanofi, and retail giant Carrefour.

Jake Kemp, an analyst at GlobalData Sport, comments on the importance of the tie-up: “This is a huge partnership which highlights the appeal of the Games in France. 

“The Games organizers have been pushing the notion of the 2024 event being the ‘Games of France’ and bringing on board the biggest French companies helps emphasize this notion. It helps cement the idea in people’s minds that this is a truly French event being staged; France is globally known as the high-end fashion capital of the world and so there is a strong sense of synergy in the tie-up.

“As well as this, having LVMH brands such as Louis Vuitton and Dior onboard offers the Games a sense of unparalleled prestige that is perfectly in keeping with the biggest global sporting event.

“For Olympic organizers, the partnership ensures adherence to creating a truly French Olympic Game feel, whilst its reported €150 million commitment offers serious financial rewards. It means, across these six premium partnerships alone, that the Olympic Games is set to generate $769.87 million – GlobalData has estimated – over the course of the current cycle.

“From an LVMH Group perspective, meanwhile, the partnership with the Games offers a unique opportunity to promote and showcase all of its brands. It ensures it will not miss out on the biggest global event being hosted in its home market, for the first time in a century, when Paris last hosted the Summer Olympics in 1924.”

The detail

Other elements of the Paris 2024-LVMH partnership include LVMH providing direct support to French athletes, while its beauty retailer Sephora will sponsor the Olympic torch relay.

Paris 2024 has been ramping up its commercial activity around the one-year-to-go milestone for the start of the Olympics, which came yesterday (July 26).

Last week, national carrier Air France became the 13th official partner of the Games alongside Caisse des Dépôts, Accor Live Limitless, Groupe ADP, ArcelorMittal, Cisco, Danone, CMA CGM, Decathlon, FDJ, GL Events, Le Coq Sportif, and PwC.

Organizers also recently announced Arena Group, the UK-based events company that provides temporary structures and seating at major sporting events, as an official supporter.

LVMH, meanwhile, recorded revenue of €79.2 billion in 2022, and profit from recurring operations of €21.1 billion.

More reading

LVMH official statement

Paris 2024 commercial partner list

Image: Chesnot/Getty Images