It is often underestimated, but luxury and sport have a lot in common. In addition to the aristocratic activities such as horse riding and tennis which have a great influence on fashion, the big equipment manufacturers are always in pursuit of innovation, so their R&D can serve the entire industry. Not to mention that hypermedia coverage of the most popular disciplines can be a valuable showcase for designers. It is in this context that LVMH’s announcement, which becomes ” Premium Partner of the Paris 2024 Olympic and Paralympic Games it’s no surprise. A revealing proof of the resounding power of the French luxury industry for the soft power from the country.
LVMH, “Premium Partner of the Paris 2024 Olympic and Paralympic Games”
Indeed, the most powerful French luxury group in the world has just revealed this partnership (estimated at over 166 million dollars, according to rumors). Thus, within the conglomerate, the Chaumet jewelery will design the Olympic and Paralympic medals, the wine and spirits houses Moët Hennessy will fill the glasses and Sephora will host various events during the Olympic torch relay. Other houses in the group, including Louis Vuitton, Dior and Berluti, should soon clarify the contours of their involvement in helping to build LVMH.” creator of all victories “, as the CEO, Bernard Arnault, rejoiced in the press release published on July 24, 2023 which formalizes the news:
“This unprecedented partnership with the Paris 2024 Olympic and Paralympic Games will help promote France to the world. It was natural for LVMH and its Maisons to join this major international event. The values of passion, excellence and inclusion that top-level sport promotes are those that our teams cultivate on a daily basis, guided by the constant desire to overcome their limits. Sport is an endless source of inspiration for our manufacturers, who will be enthusiastic about it rhyme creative excellence and sporting performance by putting their know-how and audacity at the service of this exceptional celebration. »
The luxury industry, France’s best soft power tool internationally?
As Tony Estanguet, president of Paris 2024 points out, this support from LVMH conveys “ a strong signal of the commitment of the largest French companies in the Paris 2024 project, which will allow our country to shine all over the world “. Luxury, in fact, represents one of the instruments of soft power the most powerful in France. While the United States has its GAFA (Google, Amazon, Facebook, Apple) and China its BATX (Baidu, Alibaba, Tencent and Xiaomi), the country of the Enlightenment rather shines thanks to these KHOLs: Kering, Hermès, L’Oréal and LVMH. And it is the latter that is the most powerful of them. Enough to tenfold the impact force of the Paris 2024 Olympics.
Finally, it should be noted that LVMH also wishes to take advantage of this partnership to extend its social commitment to the sports arena, the press release specifies:
“To initiate this approach, LVMH is committed together with the Secours populaire français, a long-standing partner, to support a very concrete initiative to provide access to sport to 1,000 children and young people aged 4 to 25, in precarious situations, by providing funding for sports licences, internships and initiation into sport. »
Because, today, helping to serve well-packaged bread and games is no longer enough, we also need to wrap everything up in good deeds.
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Source: Madmoizelle
Mary Crossley is an author at “The Fashion Vibes”. She is a seasoned journalist who is dedicated to delivering the latest news to her readers. With a keen sense of what’s important, Mary covers a wide range of topics, from politics to lifestyle and everything in between.
