LVMH is investing in the 2024 Paris Olympics and Paralympics as the first luxury brand to sponsor the Games. Luxury fashion brands are increasingly partnering with athletes to connect with new fans and buyers. LVMH's presence will be seen through partnerships like medals designed by Chaumet and French athletes wearing Berluti at the opening ceremony. Luxury spending has slowed so connecting to the prestigious Olympics may boost LVMH's sales and reach new "aspirational" young buyers.
Category
🗞
NewsTranscript
00:00It's Benzinga, and here's what's on the block.
00:02LVMH is investing in the 2024 Paris Olympics and Paralympics as the first luxury brand
00:08to sponsor the Games.
00:10Luxury fashion brands are increasingly partnering with athletes to connect with new fans and
00:14buyers.
00:15LVMH's presence will be seen through partnerships like medals designed by Chemin and French
00:19athletes wearing Berluti at the opening ceremony.
00:23Luxury spending has slowed, so connecting to the prestigious Olympics may boost LVMH's
00:27sales and reach new aspirational young buyers.
00:29For all things money, visit Benzinga.com.