2023-04-20 15:22:24
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LVMH CEO Bernard Arnault confirmed on Thursday April 20 that a contract was ” in discussion ” after months of rumors about the possibility of the French luxury giant to become a first tier sponsor of the Paris Olympics in 2024. “ The contract you speak of is not signed. It is in discussion and like any discussion, it can end with a signature or not “Said Bernard Arnault, questioned on the subject by a shareholder during the general meeting of LVMH. The arrival of the world number one in luxury as a first-tier sponsor, alongside five others who have already signed up (BPCE, Orange, EDF, Sanofi and Carrefour), is eagerly awaited. ” We will continue to negotiate, it can take 15 days or it can take six months “, declared to the press Antoine Arnault, director of the image of the LVMH group but also managing director of the holding company Christian Dior SE, which controls LVMH. With nearly 80% of the sponsorship budget reached at the end of 2022, according to the organizing committee (Cojo), the arrival of a last sponsor called a tier 1 partner or premium partners, whose entry ticket is estimated between 100 and 150 million euros, would relieve the organizers. The Cojo’s budget (which represents only a part of the total budget) is based on ticketing revenue, sponsors and a contribution from the International Olympic Committee (IOC).
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