TEAM PARIS: LVMH Moët Hennessy Louis Vuitton has joined the bandwagon of official sponsors of Paris’ bid for the 2024 Summer Olympics.
The announcement was made on Monday night during the start of the “Cercle des Partenaires Paris 2024” (or the Paris 2024 Sponsors Club) at Les Ombres, the restaurant at the Quai Branly museum in Paris. It makes the French luxury giant the first player in the fashion industry to be a sponsor, of which there are now 12. Others include AccorHotels, Orange and BNP Paribas.
“Paris has all the assets to write a new chapter of its Olympic and Paralympic story; The Olympics would boost our economy before, during and after the Games. Olympics would help grow the attractiveness of our country, make our knowhow shine in the entire world,” wrote the 12 partner companies in a letter published in French national newspapers Le Figaro, Les Echos and Le Monde on Tuesday. The letter was signed by the 12 heads of the companies, including LVMH chairman and chief executive officer Bernard Arnault.
The timing coincided with the launch Monday of a major campaign, in the nearer term, by French authorities to promote the city as a go-to spot as visitor levels remain very low six months after the Paris terror attacks.
“We are ambassadors to France and its lifestyle all around the world thanks to Paris. It’s only normal and logical that we are ambassadors to Paris, for the world and for France, and its will to win,” stated Marc-Antoine Jamet, LVMH secretary general.
The luxury group didn’t wish to comment on the nature of its support. However, the entry ticket is estimated at 2 million euros, or $2.22 million, per company. The committee is hoping to reach around 15 sponsors, which would bring in roughly 30 million euros (or $33.36 million at current exchange) to finance the campaign. These would add to the 30 million euros financed by French authorities.
The three other bidding cities are Los Angeles, Rome and Budapest. The host of the Summer Olympic Games is to be revealed in Lima, Peru on Sept. 13, 2017.