PARIS — If the Paris Summer Olympics were called the “Fashion Olympics,” Dior would win the gold medal, according to a Launchmetrics report that measured media impact value (MIV) during the event.
The brand raked in $53 million in MIV throughout the Games, much of which was due to Celine Dion and Lady Gaga wearing the LVMH Moët Hennessy Louis Vuitton-owned label at the opening ceremony.
Dion’s appearance alone brought in $20.5 million for MIV, while Gaga’s custom Dior dress brought in $13.7 million. French singer Isolde’s Dior suit and hat for the closing ceremony added another $1.8 million to the brand’s two-week sales.
LVMH’s premium partnership with the Olympics has raised the bar for fashion brands and the profile of its brands. Strategic positioning of the brands in various occasions was key to its success, with six LVMH brands ranking among the top 20 fashion, lifestyle and beauty brands assessed by MIV during the Paris Olympics.
For example, conglomerate Berluti designed the French team’s opening ceremony uniforms, which received widespread coverage on traditional television and in newspapers and generated an MIV of $3.6 million.
LVMH-owned Sephora also made the list, demonstrating the brand’s strategic and experiential marketing by setting up pop-up beauty stations around the event venue, which generated $2.9 million in MIV.
MIV is a Launchmetrics proprietary measurement formula that quantifies audience engagement, industry relevance, source authority and content quality.
The total media impact of the Olympics was nearly $13 billion, with fashion brands dominating the list, with athletes playing a key role in driving brand performance.
American singer HER will sing the United States national anthem at the closing ceremony of the 2024 Paris Olympics.
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Ralph Lauren dressed the US team and made a big impact through Tom Cruise’s stunts and musical performance at the closing ceremony.
Lauren’s famous polo shirt worn by gold medal-winning gymnast Simone Biles was the brand’s highest-ranking placement with an MIV of $2.7 million, while Cruise’s wearing it while rappelling from the roof of the Stade de France to catch the Olympic flag garnered an MIV of $1.7 million.
Her performance singing the US national anthem in Paris brought in $1.3 million, and her influence increased by another $1 million when Billie Eilish wore one of the brand’s loose-fitting striped polo shirts to her wardrobe during her Los Angeles performance.
Other brands that performed well included Adidas and Nike, who tied for second place with $41 million and $40.9 million respectively through their collaborations with athletes; Louis Vuitton, the flagship brand of official sponsor LVMH, which outfitted the medal ceremony presenters; and Official Timekeeper Omega, which generated $6 million through its Omega House pavilion.
Brands that utilized unique social media strategies, such as reaching out to powerful influencers or using brand ambassadors through their owned media, had the biggest impact.
Oakley was the official eyewear sponsor for the U.S. team, but that partnership had minimal impact. Instead, $6 million worth of MIV was generated by launching a campaign with French soccer superstar and Real Madrid player Kylian Mbappé, whose conspicuous absence from the French national team created a lot of buzz during the tournament.
The campaign release raised $317,000 for MIV, but another big contributor was the brand’s collaboration with influencers who shared content on their own channels and engaged with their existing fanbases.
The sunglasses brand collaborated with Colombian musician Fayed and Brazilian comedian Thiago Ventura, and the Instagram post collaboration with Fayed was worth $373,000 in MIV alone, a 38 percent increase over the company’s average monthly posts.
Caleb Dressel of Skims.
Kim Kardashian’s Skims, the official sleepwear, underwear and loungewear partner of Team USA, ranked among the top 20 performing brands. The brand opened a pop-up store in Paris called the Team USA Welcome Experience, selling exclusive Olympic-inspired merchandise, from bags to boxer shorts.
Celebrities have also had an impact, with athletes garnering attention in new ways. American Ilona Maher’s post refuting criticism of her weight gained her international attention and earned her $20.5 million in MIV. The rugby player has capitalised on her popularity and is now appearing on Dancing with the Stars.
The “Torch Stolen” video, directed by NBC commentator Snoop Dogg, was the most talked about piece of content in three weeks and generated $3 million in MIV from viral videos on TikTok.
Snoop Dogg will carry the torch in the torch relay.
dpa/picture alliance via Getty I
