MoΓ«t Hennessy Louis Vuitton(LVMH), has agreed to become a premium sponsor of the upcoming 2024 Olympics scheduled to hold in Paris. This is also a first of it's kind deal for the luxury giants.
According to sources who prefer to be anonymous, Louis Vuitton is pouring a whooping $166million into the Olympic and Paralympic games and this marks the biggest sponsorship commitment of any company so far.
The announcement by Europe’s most valuable company ends months of speculation over its participation in the sporting events. LVMH joins a list of premium partners that includes telecoms carrier Orange SA, Air France-KLM and grocer Carrefour SA.
The deal “will contribute to heightening the appeal of France around the world,” Arnault said in a statement. LVMH’s jewelry brand Chaumet will design the games’ medals while wines and spirits produced by Moet Hennessy will be served to hospitality guests.
Sports fans around the world are eagerly awaiting the Paris 2024 Olympics as people are anxious to see what LVMH has in store for the guests.
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