LVMH has not yet signed a contract related to sponsorship of the 2024 Olympic Games in Paris but talks are ongoing, the world's biggest luxury group's chief executive Bernard Arnault said Thursday.
"A contract ...is under discussion and as with all discussions, could wind up with a signature or not," said Arnault in response to a question from a shareholder at the company's annual meeting.
Speculation about what form such a sponsorship could take has centered around the opening ceremony, which, in a break with Olympic tradition, will be held outdoors along the Seine River in the heart of Paris rather than in a stadium.
Confirmed sponsors for the global sporting showpiece include Airbnb, Alibaba, Coca-Cola and Toyota.
A source familiar with LVMH's discussions said negotiations with the Paris 2024 Organising Committee for the Olympic and Paralympic Games were related to just a handful of LVMH brands, including champagne and the group's star label Louis Vuitton.
The group's watch and jewelry brands, however, likely won't be involved, the person said, citing the longstanding sponsorship of Swatch Group's label Omega, which is the official timekeeper of the games through 2032.
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