2024-07-29 19:18:46
“LVMH is spending money like water on the Olympics.”
Recently, the British weekly magazine The Economist evaluated LVMH, a French luxury fashion company participating as a premium partner in the 2024 Paris Olympics. LVMH is the ‘creative partner’ and largest sponsor of the Paris Olympics. LVMH will pay 150 million euros (about 225 billion won), which is about one-tenth of the total amount earned by the International Olympic Committee (IOC) from Olympic sponsorship contracts.
LVMH Chairman Bernard Arnault (75) entrusted Olympic-related work to his eldest son, Antoine LVMH Vice Chairman (47). Antoine mobilized all of LVMH’s brands, including liquor, fashion, and jewelry, and placed them throughout the event. LVMH products are being used in a surprising variety of ways, from medals and French team uniforms to liquor for the event, uniforms for volunteers, and torch storage boxes. The Olympics have been transformed into a giant LVMH show window.
The medals for this competition, which stand out for their unique design, were also designed by LVMH’s jewelry brand Chaumet. In Korea, Song Hye-kyo and Cha Eun-woo are active as promotional ambassadors for this brand. Chaumet designed the medals using the “sunburst” motif that has been around since the 1920s. The material is also special. The medals were made from pieces of iron that were kept during the Eiffel Tower’s renovation.
Although it is not often seen by the audience, the back of the medal also features French symbols. In addition to the Greek goddess of victory Nike and the Acropolis of Athens, which are usually engraved on the back of Olympic medals, the Eiffel Tower is also engraved.
The tray (box) that carries the medals to the podium was also designed by Louis Vuitton, a fashion brand under LVMH. It uses the same brown checkered pattern design that is symbolic of Louis Vuitton. The checkered exterior is made of canvas, and the flat surface where the medals are placed is made of black leather, made by Louis Vuitton craftsmen. The torch storage case was also made with a similar design.
The uniforms for the volunteers who hand out the medals were also created by Louis Vuitton. They are said to have been inspired by the 1924 Paris Olympics. The polo shirts, pants, and Gavroche hats were all made using eco-friendly fabrics.
The uniform worn by the French team at the opening ceremony was made by Berluti, an authentic French menswear brand acquired by LVMH in 1993. It consists of tuxedos, shirts, belts, scarves, and shoes, expressing French elegance. Antoine, the vice president in charge of this Olympics, served as Berluti’s CEO from 2011 to 2023 and transformed Berluti, which had focused on men’s shoes, into a luxury menswear brand.
The Olympic VIP Lounge will feature Moët Hennessy wines from LVMH Liquor Group.
While the temporary stadiums built by the city of Paris are crowded with tourists, LVMH’s ambitious project is also attracting tourists. It is the 154-year-old Art Deco masterpiece Samaritaine department store. The building is famous for its glass ceiling, iron columns, and giant peacock frescoes that can be seen everywhere in the department store. LVMH purchased the department store, which was forced to close in 2005 due to the risk of collapse, and spent about 1 trillion won to restore it and opened it last year.
Reporter Lee Ji-yoon [email protected]
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2024-07-29 19:18:46