It might be overegging it slightly to declare Paris 2024 to have been “the fashion Olympics”, but it is also becoming increasingly difficult to deny the burgeoning links between the two fields – fashion and sport – that may have once seemed disparate. 

Such a conclusion is affirmed by Louis Vuitton Moët Hennessy (LVMH)’s decision to invest some €150 million ($163 million) into the Olympic Games and Paralympic Games. 

As reported lately by CNBC, the involvement of such high-end fashion in the sporting world could provide a boost to participating brands, at a time when there are worries about subdued spending on luxury goods. 

A shared “commitment to quality and excellence” between sportspeople and brands 

There is at least one obvious area of commonality between the elite performers on display in the French capital, and the prestigious brands that have come to be ever-more associated with them: a steadfast dedication to proving oneself as the best of the best. 

Or, to put it in the words of Carly Duguid, the creative director for Naomi Osaka, the tennis star who has built her own credentials as a fashion icon: “There’s a strong parallel between athletes and brands in their commitment to quality and excellence”. 

Other high-end brands have taken steps, but LVMH particularly stands out 

In an age in which sports professionals have emerged as influencers in their own right, it isn’t only LVMH that has been making moves in this field overlapping fashion and athletic pursuits. 

Gucci, for example, has Manchester City and England football ace Jack Grealish as a brand ambassador. Meanwhile, basketball player Caitlin Clark recently became the first-ever WNBA or NBA star to wear Prada for the Draft. 

Still, it seems to be LVMH that has especially caught the eye this Olympics and Paralympics. This has been realised through such highly visible steps as Louis Vuitton producing custom trunks for medal ceremonies, and the pouring of Moët champagne to celebrate victories. 

With the multinational conglomerate’s approximately €150 million investment representing nearly 1% of its profits in 2023, the business is clearly confident about the benefits of allying itself closely to elite sporting events and the highest-performing athletes. 

LVMH fell short of its sales and revenue targets for 2024’s second quarter. So, there is clearly an urgency to ensure the holding company’s efforts in this regard produce results. 

Is your luxury brand inspired by LVMH’s example? 

As many of LVMH’s target audiences experience greater financial instability, demand for luxury goods across the world appears to have been on a downslide. 

To help combat this, high-end brands are incorporating a sense of inclusivity into their exclusivity. After all, many of today’s emerging wealthy are sports professionals, actors, and social media influencers. Such individuals demonstrate that almost anyone from nearly any background can conceivably participate in luxury, if they build the economic means to do so through their own efforts. 

If this story has given you “food for thought” as you seek to plot a path to sustainable growth for your high-end brand in the fashion and/or lifestyle sectors over the months and years ahead, please feel free to contact our creative, strategic, and digital experts at Skywire London. 

We would be pleased to discuss with you how we could help formulate and implement effective promotional campaigns – and so much more – as your chosen luxury brands marketing agency.

Photo by Amada MA on Unsplash