The Olympics, a mega-event in sports, is underway in Paris this year. With teams of over 200 countries participating in over 32 sports with a massive average viewership of 3.2 billion worldwide, the games are a major attraction for brands seeking global recognition and outreach.
Historically luxury brands have not been associated with the Olympics apart from a few exceptions like Omega (part of the Swatch group) which has been the official timekeeper of the Olympics since 1932 and Ralph Lauren being the official outfitter for the American Olympic team for 25 years. The Paris games, however, have witnessed an evident shift in the prevalent paradigm.
The biggest game changer in this scene is the luxury giant LVMH group. After four years of intense negotiation with the IOC, the conglomerate has managed to secure its position as the official “Premium Partner” of the Olympics and the Paralympics for a hefty 150 million euros.
With this agreement, LVMH subsidiary Sephora shall support the torch relay. Chaumet shall design the Olympic and Paralympic medals, Moët Hennessy will refresh VIPs with its wines, champagnes, and cognacs, and their flagship brand Louis Vuitton will wrap and present the medals. Additionally, their apparel brand Berluti shall be dressing athletes from the French Olympic team.
Dior has conducted an extensive social media campaign with the #DiorxParis2024 with athletes who embody the spirit and style of the brand. This initiative is not only about fashion but also pays homage to the dedication and excellence of athletes competing at an international level. The campaign features athletes like, swimmer Adam Peaty and sprinter Dina Asher-Smith, who bring visibility to the brand across various social media platforms.
LVMH also announced “Direct Support" for certain athletes whose exemplary careers make them “Artisans de toutes les Victoires” or “Craftsmen of Victories”. In addition, the luxury giant will also showcase its charitable side through a new initiative with Secours Populaire Français.
This partnership marks a groundbreaking moment for the luxury industry, especially for LVMH. After establishing its dominance in diverse markets, LVMH is now demonstrating that the future of luxury lies in its intersection with sports. Sports are increasingly seen as a powerful medium for promoting the aspirations, ideals, and lifestyles that resonate with the affluent and aspirational classes, precisely the demographics targeted by luxury brands. By aligning with the Olympics, Dior and LVMH are not only associating their brands with global excellence and prestige but are also tapping into the deep emotional and cultural significance that sports hold for audiences worldwide.
This strategy reflects a broader trend in the "Luxuryfication" of the world, where the values embodied by elite sports such as determination, exclusivity, and success are seamlessly integrated into the narrative of luxury branding, creating a powerful synergy between the two worlds.
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