LVMH Group shines at the Paris Olympics
On July 24, LVMH Group officially announced that it will become a senior sponsor of the 2024 Summer Olympic Games and Paralympic Games in Paris, and its brands Louis Vuitton, Dior and Moet Hennessy will support the Olympic Games in different forms.
According to Vogue, the clothes for the French delegation will be designed by designers from the LVMH group; Chaumet, LVMH's jewelry brand, will be responsible for Olympic and Paralympic MEDALS; Moet Hennessy will offer its alcohol products to guests during the Games; Cosmetics retailer Sephora's sponsorship will be on display during the torch relay.
In addition, the LVMH Group also plans to sponsor some athletes who will appear in the Olympics, including French swimmer Leon Marchant, the holder of the men's 400-meter medley world record.
In fact, the deal was not sealed without trace. Since Paris Mayor Hidalgo took over the Olympic flag at the closing ceremony of the Tokyo Olympic Games, its list of sponsors has received industry attention, and as the world's largest luxury goods group, France's national card, LVMH Group has been taking the initiative to plan and discuss sponsorship matters.
Last week, at a three-way meeting held at the Grand Palais in Paris, Antoine Arnault, the world's richest man and the eldest son of LVMH President Bernard Arnault, Tony Estain, president of the Paris Olympic Organizing Committee, and Anne Hidalgo, mayor of Paris, formally signed the cooperation after in-depth discussions, ending the months-long negotiations, but the specific sponsorship amount has not been announced.
"The LVMH Group will work closely with the Paris Organizing Committee to overturn established standards and deliver an unprecedented experience," LVMH said in a statement. This also reflects the LVMH Group, which owns 75 top luxury brands such as Louis Vuitton, Dior, Givenchy and Loewe, is absolutely confident in the creative and ideological level.
It is worth mentioning that the Paris Olympic Games itself also has a certain epoch-making significance. In December last year, the Paris Olympic Organizing Committee announced for the first time the "water opening ceremony" this historic idea. It is reported that the opening ceremony of the Paris Olympic Games planned to be held on July 26, 2024, will break through the stadium limit for the first time, and will be the opening ceremony site of the 6km Seine River and the area along the river.
Now with the blessing of LVMH's brands, the rich fashion show experience of the major brands and the modern concept of the Paris Olympic Games will collide with unexpected sparks, so that the unique cultural characteristics of France will be presented in this world's highest level of sports events.
Luxury goods into sports has become a trend
Luxury brands and sports linkage, such a trend has long appeared, and LVMH is one of the well-deserved leaders.
On the opening day of the 2022 World Cup in Qatar, LVMH's Louis Vuitton officially released a photo of Messi and Cristiano Ronaldo playing chess on its iconic checkerboard box, with the caption: Victory is a State of Mind. This heavy "same frame", let the whole network fans boil for it at the same time, but also for Louis Vuitton itself has brought an epic marketing that can not be replicated.
This promotional photo was released on the personal Instagram accounts of C Ronaldo and Messi, respectively, received 42.75 million and 32.95 million likes, respectively, the fourth and eighth place in the history of the number of likes of a single Instagram feed, it is worth mentioning that Messi held high the World Cup to celebrate the victory of the picture is the first on the list.
The famous World Cup also has an interesting connection with Louis Vuitton. It is understood that Louis Vuitton provides championship trophy cases for many world-class well-known sports events, including the World Cup. In addition to the World Cup, the NBA Finals, the League of Legends Global Finals, and the F1 Monaco Grand Prix have all cooperated with LV to launch championship trophy cases.
In addition to athletes and events, the joint release of co-branded products with sports equipment brands is also a reflection of LVMH and the entire luxury industry's entry into the sports industry.
In 2017, Louis Vuitton and Supreme, which started from skateboarding culture, cooperated for the first time and launched a series of products. This cooperation not only greatly improved the trend attribute of Louis Vuitton, but also directly brought 14.6% sales growth for LVMH Group, the parent company of LV, and the price of a single product in the secondary market was 8 times higher than the original price. In 2020, the cooperation between Dior and Jordan Brand will perfectly integrate the texture of high fashion and the concept of street wear culture, and the launch of "Air Dior" has once become the most expensive shoes in the secondary market at home and abroad.
Although LVMH has scored several landmark victories in this trend, the trend of luxury embracing sports brands has begun to emerge at the beginning of the millennium. The cross-border cooperation between CHANEL and Reebok InstapumpFury in 2001, and the joint name of Alexander Mcqueen and PUMA in 2005, have earned a very good reputation for themselves, and established a different brand image in the hearts of consumers.
Putting down the body to engage in sports, luxury brands have their own plans
Bernard Arnault, the founder of LVMH Group, once said: "The establishment of luxury brands is essentially to create a non-existent consumer demand, and through clever publicity, let people gradually accept its rationality."
With the healthy lifestyle being more and more attention, people's demand for clothing and shoes began to have a certain change, to meet the fashion and good looks at the same time, function and practicality has become an important measure. In addition to ensuring sports performance, sports brands greatly enhance their trend and fashion attributes, while luxury brands uphold the completely opposite needs and curry favor with their consumers in a very similar way and posture.
For many luxury brands with royal clothing suppliers and target portraits concentrated in the middle class and above, they never lack aesthetic height and concept precipitation, on the contrary, to meet People's Daily life sports needs with excellent functionality is their "specialty".
Co-branding with sports brands is the simplest and most crude way to solve this problem. Although there may not be many people actually wearing these "LOGO" products to exercise, the wave of trends and the popularity of the secondary market also proves that consumers recognize this logic and the concept conveyed behind it.
In addition, the linkage with dynamic sports brands is also an important way for luxury brands to connect with young people. The young generation is more yearning for sports and actively embrace a healthy lifestyle, which makes the status of sports brands in the hearts of the young generation of consumer groups, and young people as the main position in the trend circle.
Through co-branding with sports brands, hiring designers with working experience in fashion sports brands and opening sports product lines, a number of luxury brands can expand functional products suitable for a variety of sports scenes by virtue of diversified cultural forms, so that user portraits can be crossed to a certain extent and further expand their influence.
If cooperation with sports brands can achieve cross-sharing of users, then targeting the Olympic Games, World Cup and other events can bring luxury brands into a field with national attention, so that their influence can be expanded.
Ahead of China's Women's World Cup, a promotional photo of the entire team wearing custom-made Prada suits and shoes has flooded social media. In addition to the high praise, Prada's high fashion sense and Chinese women's soccer culture have been collided and blended, and the common goal of the two "developing women's sports and promoting the vigorous development of Chinese women's soccer" has also sublimated Prada's brand image in front of the national fans.
LVMH's entry into the Olympic Games is probably adhering to the same logic. As the world's largest comprehensive event, the influence of the Olympic Games does not need to be described too much. If LVMH Group can promote itself at the same time, do Bernard Arnault's mouth "let France shine", then people enjoy the charm of sports events at the same time, they will also usher in their own harvest season.
