This year, Paris, the world’s fashion capital plays host to the world’s largest sporting event. With an expected global audience of more than three billion[1], there will be a lot of attention and money spent on this sporting event.
LVMH[2] is a premium sponsor of the Olympic Games. With its French heritage and aspirational slogan “The Art of Crafting Dreams”, LVMH is a perfect fit for Paris 2024. LVMH, a French multi-national company, is a leader in luxury fashion: the luxury conglomerate reportedly made up a larger share of French exports than agriculture last year.[3]
Fashion and sports are becoming increasingly intertwined, as proven by this combination of powerhouse luxury fashion and epitome of sporting excellence. This sponsorship has the potential to increase brand visibility for each party by aligning their audiences and marketing prowess.
LVMH reportedly paid around US $160 million (approx. NZ $275 million) to be an official sponsor of the Games.[4] Resulting sponsorship revenues are expected to be in the region of US $1.34 billion[5] (approx. NZ $2.25 billion).
Unmissable LVMH brands throughout the Games
Chaumet, designed the medals for the games. This is the first time in Olympic and Paralympic history a jewellery house has designed the medals. Designed with France in mind, the medals include a hexagonal centre piece made from authentic iron preserved during the renovation of the Eiffel Tower.
Louis Vuitton trunks were used to protect and display the torches as they travelled across France before arriving in Paris for the opening ceremony. Louis Vuitton also dressed the medal bearers.
Berluti dressed the French delegation for various ceremonies, however Le Coq Sportif (not an LVMH brand) is the official designer of the French team’s uniform.
Moët Hennessey wines and spirits were part of the hospitality program. Winning athletes also received a bottle of Moët champagne to celebrate their achievements.
Sephora is a partner of the Olympic and Paralympic Torch Relays as well as the Marathon Pour Tous[6].
Other fashion and beauty brands who are sponsors, licensees and supporters of the Games and its teams include:
- Omega: The Swiss watchmaker is the official time keeper of the Olympic and Paralympic Games.
- Le Coq Sportif: The French fashion brand is the official partner of the French Olympic and Paralympic team and has been dressing the team since 2021.
- Fenty Beauty: The beauty brand created by Rihanna is providing beauty kits to volunteers awarding medals to athletes.
- Honest Wolf: The New Zealand brand is an official supporter of the New Zealand Olympic Team, providing limited edition bags and accessories for purchasers to show their Kiwi pride.
Licensing and sponsorships
Official licensees and sponsors under Olympic Licensing Programmes are entitled to different marketing rights in different regions. This can include category exclusivity, the use of certain designated Olympic images and marks, and formal association with the Games, its teams, or its athletes.
The precise terms of many sponsorships and partnerships are not widely disclosed. However, brands pay handsomely for their rights of use and association. Partnership and sponsorship terms may extend beyond just the year of the Games period, with some brands signing up for 8-10 years at a time.[7]
Most of the revenue from the Games is invested back into sport and athlete development worldwide.
Olympic funding is allocated to various sport initiatives and organisations; including funding the Youth Olympic Games every two years, supporting International Federations that govern, develop and promote their sports worldwide, and supporting national Olympic Committees [8].
The money and support provided by licensees and sponsors also promotes broader humanitarian goals, such as the spreading of the three Olympic values: excellence, respect and friendship.
Of course, brand partnership and sponsorships also benefit the associated brands and their industries. As noted above, LVMH fashion brands were unmissable during the Games. Official supporters, like LVMH and Honest Wolf in New Zealand, are able to provide their goods in association with Olympic IP so that their consumers can feel like they’re supporting their teams and getting their own ‘piece’ of the Olympics.
This increases brand visibility and awareness, not only by introducing brands to new audiences, but also giving brands the chance to adjust public perception due to the goodwill associated with being an Olympic partner or sponsor. For example, during the Games, it’s quite possible that your celebratory drink of choice will be a bottle of Moët!
Beyond the Games
The Games are not the only collaboration of fashion and sports this season.
Audience attentions around Wimbledon were just as much about the looks served off the court. Ralph Lauren has been the official outfitter of Wimbledon, dressing people working the event including the umpires and ball persons. Zendaya watched the tennis championships from the Ralph Lauren suite, dressed in the brand, estimated to generate US $3.6 million in ‘media impact’.[9]
Other fashion and beauty brands tapping into the power of, and attention on, major sporting events, include:
- On, recently released an amazing campaign in which Roger Federer plays Zendaya in a game of ‘air tennis’.
- Prada recently dressed Caitlin Clark for the WNBA, marking the first time the fashion brand has ever dressed a player for the draft - male or female.
- Dior recently named F1 superstar Lewis Hamilton as global ambassador, and guest designer.
Sports x fashion collaborations are undoubtedly working for many major events and sponsors. The potential increases in visibility and revenue would appear well-worth the price of entry.
If you are looking for help in protecting or realising the commercial potential of your brand, please get in touch with one of our experts.
[1] https://olympics.com/en/paris-2024/the-games/olympic-paralympic-games/olympic-games. The Tokyo games had over 3 billion viewers worldwide.
[2] Louis Vuitton Moët Hennessy (LVMH) is one of the world’s largest luxury groups. Brands under the LVMH umbrella include the titular brands Louis Vuitton, Moët and Hennessey. Other luxury brands include Fendi, Bvlgari, Celine, Tiffany & Co, Veuve Clicquot, Hublot and Tag Heuer.
[3] https://www.ft.com/content/b8e68d3c-94fc-4587-ad7a-2454f894b8f8
[4] https://www.forbes.com/sites/claraludmir/2024/04/30/retail-hospitality-and-the-olympic-games-lvmhs-real-estate-strategy/
[5] https://www.ampereanalysis.com/insight/paris-olympics-sees-a-60-uplift-in-sponsorship-revenue
[6] This is the first time in Olympic history amateur athletes will have the opportunity to participate. There is an opportunity to run a 10km or 42km race.
[7] For example, Toyota’s sponsorship, announced in 2015, is set to expire at the end of the Paris 2024 games, some 9 years later.
[8] https://olympics.com/ioc/funding
[9] https://wwd.com/pop-culture/celebrity-news/zendaya-ralph-lauren-wimbledon-2024-media-exposure-1236497962/
