Sponsoring the Olympics: LVMH Chairman Bernard Arnault 08/02/24

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 2 August 2024

⏱️ 32 minutes

🔗️ Recording | iTunes | RSS

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Summary

In a rare and exclusive interview, LVMH Chairman & CEO Bernard Arnault sits down with Andrew Ross Sorkin in Christian Dior’s original drawing room in Paris. LVMH is the premium sponsor of the 2024 Olympic Games, and the conglomerate’s products are everywhere: the medals, the trunks carrying the medals, the uniforms, even the champagne being served. Arnault discusses his company’s long history, its importance to France, and why the sponsorship was so important for his brand. Plus, Arnault discusses the state of luxury and consumer tastes…and his ideas for collaboration with Elon Musk. Watch LVMH’s Team France uniforms–and the LVMH medals–on Peacock and NBC, when you watch any of the Olympic games. Bernard Arnault 6:07 In this episode: Andrew Ross Sorkin, @andrewrsorkin Cameron Costa, @CameronCostaNY

Transcript

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0:00.0	This is Squawk Pond from C and B.C. We're bringing you the best of Squawk in Paris for the
0:09.9	2024 Olympics. On this episode, the premium sponsors of the entire games,
0:16.4	LVMH. A rare interview with LVMH, Chairman and CEO Bernard Arno in a rarely visited place.
0:27.0	We are in Mr. Dior, first touring room where he started in 1947 his first show.
0:37.0	How LVMH spent the $160 million and then some that it poured into the Olympics sponsorship.
0:44.8	We wanted to find a way to show through the Olympics to the world that France itself is a creative country, is a refined country, is a craftsmanship country.
0:58.0	And the state of luxury, even while some demand might be slipping.
1:03.0	I have seen many crises, many crises, it's up and downs, but the global trend is still steady and I think it will continue.
1:16.0	What Arno loves most about his job and his many, many high-end brands.
1:22.0	Every morning when I arrive in my office I have fun.
1:25.0	So I want to continue to have fun.
1:27.0	The fun part is to be able to work with creators and to see how this creation can be sold all over the planet.
1:39.6	Plus, what's Elon Musk got to do with any of this?
1:43.0	Maybe with a way to put Vinton in a rocket.
1:48.0	I don't know if we go somewhere.
1:50.0	I'm C. M. C. M. C. C. C. C. C. C. C. C. C. C. C. C. C. A. C. C. C. A. C. C. C. C. C. C. C. C. C. C. C. C. C. C. A. C. C. C. C. C. A
1:53.0	podcasting from New York and our Squawk Pod from the Olympics
1:56.8	begins right Paris this week for the 2024 Olympic Games.
2:17.5	While there, the team sat down with Olympians and CEOs and investors. They even tried their hand at fencing with the help of
2:25.1	Olympians as coaches. You can hear those conversations on your squawk pod feed.
2:29.7	We've been turning out Olympics episodes all week.
2:33.0	While there, the press, the athletes, the fans, everyone is surrounded by luxury provided by LVMH.
	...

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