As Countdown for 2024 Olympics Begins, a Deal Worth $126,900,200 Brings IOC a New Partner for Paris

The Olympics are hardly just a year away. The greatest mega event in global sports will return for its 2024 edition in Paris. The Olympics are seeing a lot of hype this time as the athletes are better prepared, and no country is trying to fight a pandemic at the same time. The hype of the upcoming iteration of the championship has also gained the attention of several prominent brands. One of those prestigious brands has reached out to the International Olympic Committee (IOC) with a grand offer.

Louis Vuitton or Moët Hennessy Louis Vuitton (LVMH) is one of the biggest luxury brands in the world. The French luxury fashion house has extended a hand to the IOC with an enormous deal worth $126,900,200. The company will sponsor and work with the IOC for the upcoming Paris edition of the Olympics. Along with the Summer Olympics, the LVMH group will also sponsor the Paralympics. 

LVMH agrees to become a premium Olympics sponsor

The LVMH group has joined the list of other top-notch sponsors for the 2024 Olympics edition. It now stands on equal footing with the BPCE banking group, Sanofi Pharmaceuticals, and Carrefour. The confirmation of the news arrived at an international news conference with the President of the IOC, Thomas Bach, in attendance. The confirmation was made by Antoine Arnault, who is one of the heirs of the esteemed LVMH group. 

The Instagram handle of the LVMH group also verified the news on the social media platform. The post says that several workers and artisans of the group will be entrusted with the responsibility of crafting the Olympic medals. The group will also take up hospitality duties and supply the IOC with several essential hospitality items. While the deal’s specifics haven’t been made public yet, the group has also said they will be sponsoring athletes.

Luxury group to also sponsor athletes

 The group will stick strictly to athletes from France. One of the athletes chosen by the group is the ace swimming superstar Léon Marchand. The luxury brand has been signing deals with high-profile athletes for quite some time now and is spreading its roots in the world of sports. 

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The LVMH brings along several brands in the equation. The LVMH group’s Chairman and CEO, Bernard Arnault, is the proud owner of brands like Louis Vuitton, Dior, Moet Hennessy, and Chaumet. The esteemed jeweler, Chaumet, has been appointed to craft the medals for the upcoming Games. At the same time, the French athletic delegation will be adorned in attire from one of the prominent fashion establishments under LVMH’s umbrella. Furthermore, Sephora, the beauty retail arm of LVMH, has taken up the mantle of sponsoring the Olympic torch relay. The Olympic games already display a considerable amount of grandeur. Adding a company like LVMH will increase the brilliance of the upcoming Olympic games even more.

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