Paris Olympics heavyweight sponsor: LVMH Group
The Paris Olympics has become a hot topic on social media platforms. Luxury consumer brands are actively participating in the marketing activities of this top sports event, hoping to achieve target audience growth and expand revenue channels through event marketing, but whether the brands can achieve their ideal commercial value still needs to pass multiple tests.
According to public reports, as a senior partner of the Paris Olympics, LVMH Group has a total sponsorship of 150 million euros for the Paris Olympics. Since this is the world's largest luxury consumer goods group with brands such as luggage, clothing, jewelry, and spirits, it has fully leveraged the advantage of participating in a group.
There are more than 800 award ceremonies for the Paris Olympics and Paralympics combined, and volunteers will hold LV's classic honeycomb pattern trays on stage. The volunteers' award ceremony uniforms are also provided by Louis Vuitton, including white Polo shirts, berets, and beige trousers. It is reported that Louis Vuitton has designed a total of 600 sets of uniforms for the 515 award ceremony volunteers.
In addition, Moet & Chandon champagne and Hennessy cognac from LVMH's portfolio will be tasted by Olympic VIPs and corporate guests in their hospitality suites. LVMH's only French jewelry brand Chaumet participated in the design and production of the Olympic and Paralympic medals.
LVMH Group will undoubtedly be one of the winners of this sports event. From a business perspective, the Olympics are a "feast of traffic," and this nationwide sports event can increase the visibility of a brand.
In addition to LVMH Group, as the official timekeeper of the Olympic Games, OMEGA has applied new technologies to ensure precise timing for the Games.
In order to promote the Games, various brands have already launched a variety of marketing strategies. As early as the end of June, influencers began receiving brand promotion invitations, requiring that the brand ads they create be related to Olympic events.
No company wants to miss out on this huge traffic marketing opportunity.However, not all brands have the official endorsement.
While event marketing can bring many benefits to a brand, how to turn marketing-generated traffic into business growth is a problem that companies must face.
Industry insiders said that while brands continue to ramp up their event marketing efforts, they must also diversify their marketing channels and explore more extensive marketing opportunities.
By leveraging various marketing activities, brands can boost their performance and achieve target audience growth, thereby becoming true winners.
On July 24, LVMH Group announced its half-year performance for 2024, with sales revenue down 1% to 4.17 billion euros and net profit down 14% to 7.267 billion euros. The group said that it faces a risk of declining profitability in the second half of the year. Whether the heavyweight sponsorship of the Paris Olympics can be a shot in the arm for LVMH Group is something everyone is watching.
