Paris is a company town, and fashion will be at the center of the 2024 Summer Olympics. Of course, one company stands to truly benefit from that opportunity at scale, and that’s LVMH, currently the largest in Europe by market capitalization. (It remains neck and neck with Novo Nordisk, the maker of Ozempic.) Last summer, the group announced their deal as the lead sponsor of the Games, valued at $160 million by The Wall Street Journal. The amount of money LVMH will invest in marketing, advertising, and promotion around the two-week-long event will be far greater, adding hundreds of millions of dollars to the actual spend. In some departments, marketers were required to devote a third of their annual budget to efforts around the Olympics, and not just at a group level—individual brands have been asked to chip in tens of millions here and there. The catch is that their budgets were not, in most cases, increased overall.
LVMH's takeover of the games says a lot about the state of the industry, and about the group itself. For the latest issue of Line Sheet Puck, I surveyed the situation. There's also an update on the business of Law Roach, a plea to Les Wexner, and some thoughts on the value of Chrome Hearts.... Enjoy! https://lnkd.in/gGbmW2RA
Entertainment, Music, Trademarks, and IP / Digital Media.
2moAmazing - they're lucky to have you. Congrats.