Luxury goods that reach out to sporting events LVMH fully supports the Paris Olympics

Chaumega medal design, French delegation uniform produced by Berluti
Investment
of 220 billion won, largest sponsor in Buddhism ‘Inequality’ raises eyebrows at intervention in luxury goods

LVMH Chairman Arnault announces last year’s results

Bernard Arnault, Chairman of Louis Vuitton Moët Hennessy (LVMH) Group, is announcing last year’s performance in Paris, France on the 25th (local time).LVMH, the world’s largest luxury goods group, announced that it achieved sales of 86.2 billion euros (about 125 trillion won) last year, up 13% from the previous year. 바카라사이트

Louis Vuitton Moet Hennessy (LVMH), a French luxury goods group, invested all its resources into the 2024 Paris Olympics and became France’s largest sponsor, the American daily Wall Street Journal (WSJ) reported on the 2nd (local time) ) reported.

As the luxury goods market grows and consumption barriers decrease, it appears that the marketing value of large-scale sporting events such as the Olympics has been recognized targeting sports fans.Although the organizers welcome this as it reduces the risk of deficit, there are also those who view the emergence of luxury brands unfavorably.

Jewelry brand Chaumet is designing gold, silver, and bronze medals to be awarded to athletes.Menswear brand Berluti is making about 1,300 uniforms to be worn by the French delegation at the opening ceremonies of the Olympic and Paralympic Games.Moet Champagne and Hennessy Cognac are provided in all VIP suites.

Louis Vuitton leather products, which are already used to carry World Cup and NBA Finals trophy products, will also appear this time.

According to sources, LVHM will support 150 million euros (about 220 billion won) for this Olympic and Paralympic Games.It is Korea’s largest sponsor of the 2024 Paris Olympics.

“The Olympics are held in Paris and LVMH presents the image of France,” Arnault said. “We cannot help but be a part of it.”

The Olympic Games flag (Olympic Ring) hung at Paris City Hall

Recently, luxury brands have become more active in using sports as marketing.

Breaking away from the strategy of being exclusive to a few wealthy people, we understand that a large portion of sales come from fans who are passionate about large sporting events.According to a Boston Consulting Group report, about 60% of global luxury goods sales come from small consumers who spend less than 2,000 euros (about 2.9 million won) per year on luxury goods.

Not long ago, sporting events targeting the public were considered below sports with a high-end image, such as golf, tennis, polo, sailing, and F1.However, in the age of social media, athletes, like pop stars and actors, have a growing influence on the market, and luxury brands are beginning to pay attention.

Prior to the Olympics, Louis Vuitton sponsored fencing and swimming athletes.Dior sponsored gymnastics and wheelchair tennis athletes.

Competitors are similar.Prada sponsored the Chinese national team in last year’s Women’s World Cup, and a post announcing this was viewed 300 million times on Chinese social media Weibo.Gucci recruited British soccer player Jack Grealish and Italian tennis player Jannik Sinner.

However, LVMH is the first company to attempt to sponsor an entire Olympic-scale event.

With LVMH opening its wallet, organizers can ease their financial burden.LVMH’s money will help organizers achieve their goal of fully privately financing the Paris Olympics.

However, there are also views that are uncomfortable with luxury brands appearing at the Olympics, a festival for everyone.

In particular, Chairman Bernard Arnault, one of the richest men in the world, is glared at as a person who is increasing social inequality in France.

LVMH counters that it also has many inexpensive brands, such as cosmetics select shop Sephora and mid-priced champagne.They also argue that the Olympics are an opportunity they cannot refuse as the flag bearer of France’s taste, corporate capabilities and know-how.

“Our artisans are perfectionists, like top athletes and coaches,” said Arnault. “We carry the image of France around the world.” 토토사이트 순위

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