The list of premium sponsors for Paris 2024 has been finalized. After months of tough negotiations, the luxury giant LVMH has just formalized its association with the Organizing Committee of the Olympic Games (OCOG) on Monday.
At the last general meeting of shareholders, more than three months ago, Bernard Arnault indicated that the contract was “under discussion”. In early June, OCOG President Tony Estanguet confirmed that discussions were taking place on the occasion of the end of the visit of the International Olympic Committee (IOC) Coordination Commission.
With this formalization, LVMH thus completes the list of sponsors at the highest level of the OCOG association: BPCE, Carrefour, EDF, Orange and Sanofi. To join this category, the five companies have paid at least fifty million euros to the organizing committee of the Paris 2024 Olympic Games.
If LVMH was slow to jump on the bandwagon of Olympic sponsors, it is also because this status obeys very precise rules. The companies in question cannot, for example, exercise their rights abroad. To communicate beyond France, you have to negotiate with the national Olympic committees. And this is undoubtedly where LVMH had to be convinced, which in 2022 only made 6% of its sales in France and whose main markets are in North America and Asia.
The partnership with Air France was formalized last week
A month and a half ago, Tony Estanguet assured that sponsorship income was “on track to reach 92% by the end of the year”, when it was reassessed at 1.24 billion euros, or just over a quarter of the Paris 2024 budget that now stands at 4.4 billion euros. Fifteen new partners have been formalized since the beginning of the year.
Last Thursday, Air France joined the second category of sponsors, that of official partners, along with Accor, the ADP group, ArcelorMittal, Caisse des Dépôts, Cisco, CMA CGM, Danone, Decathlon, FDJ, GL Events, Île-de-France Mobilités, Le Coq Sportif and PwC. According to the estimates of figarothe airline would have spent ten million euros as part of this association.
Source: BFM TV
