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Manila Bulletin devider Sports devider LVMH named as premium sponsor of 2024 Paris Olympics

LVMH named as premium sponsor of 2024 Paris Olympics

Published Jul 24, 2023 11:50 pm
PARIS (AFP) -- French luxury brand LVMH announced on Monday, July 24, it will be a "premium sponsor" of the 2024 Paris Olympics, allowing the organizers to practically reach their sponsorship target of 1.24 billion euros ($1.37 billion). *CEO of LVMH Holding Company, Antoine Arnault speaks during a meeting after LVMH was named as final premium sponsor of 2024 Paris Olympics, in Paris on Monday, July 24. LVMH group announced that it was the sixth premium partner for the Paris 2024 Olympic Games, allowing the comittee to almost reach their objective of 1.24 billion euros in partnerships. (AFP)*

LVMH becomes the sixth top-tier domestic sponsor, alongside communications company Orange, electricity provider EDF, banking group BPCE, pharmaceuticals company Sanofi and retail giant Carrefour. "I have the honor of officially announcing that we are now committed to being a premium partner for the 2024 Paris Olympics," Antoine Arnault, one of the five children and heirs of LVMH Chairman and CEO Bernard Arnault, said. He made the announcement at a news conference in Paris attended by International Olympic Committee President Thomas Bach, Paris 2024 chief organizer Tony Estanguet, Paris Mayor Anne Hidalgo and France's sports minister Amelie Oudea-Castera. With Wednesday marking one year to go until the opening ceremony of the Paris Olympics, the late completion of the deal with the world's biggest luxury group created great interest in France. "There were many wild theories about the reasons why it took so long," Antoine Arnault told AFP. "We didn't want to just be a financial partner, we wanted to have a role to play in the holding of these Olympic Games."

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