Brands across the industry, from the highest echelons of luxury (LVMH is the event’s premium partner) to mass-market players (Gap-owned Athleta is the “dry land” sponsor of Team USA swimmer Katie Ledecky) are aligning themselves with the 2024 Games in Paris in hopes of capturing some of that Olympic shine for themselves. The Olympics have always been a playground for large brands with deep marketing budgets, like sportswear giants like Nike or adidas or the homegrown labels like American fashion giant Ralph Lauren. They will still have a major presence at this year’s Olympics, but so will companies like Left on Friday, the direct-to-consumer swimwear company, which is outfitting Canada’s beach volleyball team in one-shouldered bikinis, and Actively Black, a three-year-old Black-owned athleisure label that is dressing Team Nigeria. Plus, countless labels are engaging in Olympic-centric advertising: enlisting Olympic athletes as ambassadors, rolling out special product collections, hosting events and more. The Olympics’ appeal is about more than its status as one of the last vestiges of monoculture. Though that shouldn’t be discounted: these will be the first games free of pandemic-era restrictions; millions of visitors are expected to spend an estimated €2.6 billion ($2.8 billion). Read the full story by BoF's Diana Pearl and Daniel-Yaw Miller https://lnkd.in/ebNDd3cR #Paris2024
Women have the spending power. Women love sports AND fashion.
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2moThe Olympics have always been a stage for traditional sports brands, but it’s fascinating to see how, in 2024, the event is attracting a diverse range of sponsors, from luxury brands like LVMH to emerging players in the fashion and athleisure sectors. The presence of unconventional brands in sports marketing not only elevates the profile of athletes and the sport itself but also opens doors to new opportunities and inspires athletes seeking sponsorships. This variety of partnerships highlights the growing intersection between fashion and sports and reinforces the Olympics' power as a major global event.