The LVMH conglomerate has signed an agreement to sponsor the Paris Olympic Games. Reuters sources report that Antoine Arnault is personally involved in this. The contract includes an association grant amounting to 150 million euros. They will attend the organization, hosting of the games and the opening ceremony.
The Chaumet brand will design the medals. And Moët Hennessy will be collecting welcome packs. French Olympic athletes will receive the conglomerate’s full support. Children from disadvantaged families have access to all sporting events. Also as part of the deal, LVMH intends to provide funding and memberships to sports associations, training programs and classes for beginners.
“This unprecedented partnership with the Paris 2024 Olympic and Paralympic Games will help increase France’s global appeal. It is natural that LVMH and its brands are part of this international event. Our values, abilities and desires will exceed all expectations. Sport is a great source of inspiration for our homes, which will combine creative excellence and sports performance, contributing to this extraordinary celebration,” said Bernard Arnault.
It was previously known that LVMH will acquire Platinum Invest. The company will develop the production of jewelry. The deal is expected to close later this summer. We talk about it in more detail here.
