A luxury Olympics
The debut of the Olympic medals gives an (expensive) glimpse of what lies ahead from LVMH as it gears up for July’ Olympic’s Opening Ceremony and prepares to bring a host of its luxury brands to 15.3 million spectators on the ground in Paris, as well as the 4 billion viewers expected to tune into broadcasts globally.
LVMH is the only luxury player among the premium partners of Paris 2024. Other sponsors include French bank BPCE, telecommunications company Orange, French energy group EDF, French hypermarket group Carrefour and French pharma giant Sanofi.
Worldwide partners at the International Olympic Committee level include Swiss watchmaker Omega and ecommerce giant Alibaba, and the most recent sign-up AB InBev.
The scale of LVMH’s Olympic partnership represents its firepower and key role in both the French, and global, economy. The conglomerate counts Louis Vuitton, Dior, Loewe, Guerlain and Dom Pérignon among its suite of brands, and ranks first in the European CAC 40 stock market index by market capitalization.
In January 2024, LVMH reported sales of $93.3 billion in 2023, with 13% organic growth from the previous year and showing the resilience of the luxury sector amid a wider economic slowdown.
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