LVMH Has Already Won Gold at the Paris Olympics
With top-end demand in the doldrums, Bernard Arnault is sponsoring what amounts to the first luxury games.
Going for gold at the Paris Olympics.
Source: LVMH
Whichever sporting heroes bring home the medals at the Paris Olympics later this month, there will only be one true winner: LVMH founder, Chairman and Chief Executive Officer Bernard Arnault. Despite the political turmoil in France – and the impact this has had on Arnault’s wealth after the decline in LVMH shares – his brands will have a starring role in the games.
LVMH Moet Hennessy Louis Vuitton SE has spent €150 million ($163 million) to be one of the premium sponsors of the Olympic and Paralympic Games. It will also be the first-ever “creative partner,” with its brands including Louis Vuitton and Dior intertwined with the competition, its locations hosting cultural events and a roster of French athletes as ambassadors.