ALBAWABA - Bernard Arnault, the famous French billionaire known for “the world in the cashmere coat,” managed to dominate diverse commercial activities during Paris 2024 Olympics. Arnault is the Chairman and CEO of LVMH Moët Hennessy – Louis Vuitton, the world's leading luxury products group and the third richest man in the world. His fortune is estimated at nearly $188 billion according to Bloomberg Billionaires Index.
Bernard Arnault and Paris 2024 Olympics deal
Arnault managed to seal a great deal for Paris 2024 Olympics at around $163 million. To start with, the glassware that is used at the Olympics is made by Tiffany, which is owned by LVMH group and the Olympic torch and medals were designed by Chaumet, LVMH jewelry house. The torch and medals will be arranged in newly designed Louis Vuitton boxes.
Arnault managed to seal a great deal for Paris 2024 Olympics at around $163 million. (Shutterstock)
Pietro Beccari, CEO of Louis Vuitton, said the company is extremely grateful and proud to take part in Paris 2024 Olympics and Paralympic Games. He explained how the company took a great mission of packaging and delivering very important iconic symbols for 2024 Olympics like the torch and medals.
LVMH and Olympic activities
It is worth noting that Dior, a subsidiary of the LVMH group, is sponsoring Mélanie de Jesus dos Santos, the French gymnast. The company also announced sponsoring other athletes, as well as manufacturing Olympic related products as the “Skyrunning” shoes that is made of leather and nylon.
Paris 2024 Olympics is marking a new era of luxury that is considered the first of its kind. The Arnault family managed to carry on their marketing mission successfully at Paris 2024 Olympics as stated by Boston Consulting Group.
