LVMH Reportedly Finalizing Sponsorship Deal For The Paris 2024 Olympics
Antoine Arnault is reportedly in the final stages of an LVMH sponsorship deal for the 2024 Paris Olympics. Antoine is one of five of CEO Bernard Arnault‘s children and heirs to the LVMH empire. His ability to close the deal with the Olympics is said to be a test of Antoine’s marketing prowess and give the industry a glimpse of how the next generation could handle Bernard’s succession.
In a recent report from Reuters, the publication indicated that the deal is being negotiated by Antoine, who has the most public profile of the five siblings. However, over the years, the other siblings, have all stepped up in the leadership ranks. Antoine’s role often revolves around promotions of the LVMH group, governing its two biggest labels Louis Vuitton and Dior as well as the champagne brand.
The Paris 2024 Olympics Committee is said to be in late-stage negotiations with LVMH. Paris 2024 CEO Tony Estanguet said last week, “It takes time, but we want to make sure that this partnership makes sense and is balanced.” According to Business of Fashion, Antoine has to ensure that the sponsorship deal will see LVMH take on the “role as a purveyor of craftsmanship and French heritage while avoiding overly conspicuous brand logo displays that could cheapen its image.” In a recent LVMH shareholder meeting, Antoine said of the Olympic Games sponsorship, “It will likely be the most-watched event in the history of television, in the history of the games — a spectacular event.” Stay tuned on how the deal unfolds.
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