Trading the Paris 2024 Olympic Games Worldwide Partners

The Olympic Games are already under way with the first national teams and athletes putting their medals into their suitcases. The Olympics are not just a series of games but a global event that involves large investments from different parties.

As the Olympic Games present an opportunity for various companies to showcase their products and advertise their brands as Paris 2024 Olympic Games Worldwide Partners, let’s see how some of them have performed.

LVMH Brings Luxury To The Olympics

LVMH Moët Hennessy Louis Vuitton is a French group of companies specialising in luxury goods that you probably wouldn’t expect to read about in an article related to the Olympic Games. However, LVMH became a part of the 33rd Olympic games in Paris as a partner, spending $150 million to show off its brands starting from the opening ceremony. According to Vogue, “Lady Gaga, Celine Dion, Aya Nakamura and Juliette Armanet performed in Dior; Paris Opera’s Guillaume Diop danced in Louis Vuitton on the Hôtel de Ville rooftop; and a scene featured the making of the medals’ trunk in the Louis Vuitton ateliers and its journey from the Pont Neuf to the Trocadéro.”

Between 2 and 3 billion viewers watched the ceremony on television, becoming practically a part of a branding campaign for one of the most powerful companies in the world. Of course, the show is not over yet for LVMH as many more events will take place until the end of the games on August 11th.

Someone could ask though if LVMH’s management could afford to take a step back and enjoy the bright light of the spotlight. The answer is probably no as the French company announced on July 24th that its net profit fell by 14% in the first half of 2024. Revenue also fell by 1% in the first six months of the year as Chinese clients seemed to reduce their luxury purchases. Commenting on the report, JP Morgan’s analysts suggested that "the soft print is likely to add to ongoing investors’ concerns on the sector more broadly in our view, confirming that even best-in-class players like LVMH cannot be immune from the challenging backdrop."

Toyota Has Second Thoughts Regarding The Partnership

Toyota is the largest car manufacturer in the world and a Paris 2024 Worldwide Partner. As an Olympic Games partner, it has brought a 100% electrified passenger vehicle fleet to Paris, in line with its commitment to reduce carbon emissions. According to Toyota’s website information, they have delivered more than 2,650 electrified passenger vehicles to be used during Paris 2024 of which 150 are wheelchair accessible.

However, media reports published in the last few weeks suggest that Toyota’s long-time partnership with the International Olympic Committee (IOC) might be ending. According to sources, Toyota’s senior management believes that the funds that have been devoted to supporting the games are not being allocated as they should, suggesting that athletes and sports are not receiving money in line with agreements. Therefore, Toyota will likely consider changing its sponsorship targets and agreements with the IOC after twenty years of presence.

Toyota experienced a downturn in the first half of 2024 as, according to its July 30th report, global output, including that of subsidiaries Daihatsu Motor Co. and Hino Motors Ltd., dropped 9.8%, on an annualised basis, to about 5 million units. It should be noted that sales declined 4.7% to 5.2 million globally. In the past few months, Toyota has faced backlash as some of its models weren’t tested for collision safety in line with regulations with the scandal making the news and the Japanese authorities requesting more transparency.

Airbnb Invites Tourists To See The Paris-y Side Of Paris

Airbnb, the popular marketplace for short-and-long-term homestays and experiences is a Paris 2024 Worldwide Partner. Airbnb attracted attention with its Olympics ad campaign with messaging such as “why stay in a hotel on the touristy side of Paris? Get an Airbnb on the Paris-y side of Paris.”

Airbnb has belonged to the special group of Worldwide Partners for the last five years. The company saw the number of listings in the Paris area increasing by 40% while the number of booked nights via its platform increased by 400%. A survey by Airbnb suggests that “stays on Airbnb during the dates of the Olympic Games Paris 2024 are estimated to generate €2,000 for a typical host in the Paris region, having a total economic impact of almost 1 billion euros and supporting almost 7,300 full-time equivalent jobs in the country.”

However, the company has come under fire as various city administrations aim to reduce the number of houses and apartments available for rental through the Airbnb platform citing high rental prices for permanent residents. In the US. New York, San Francisco, and Los Angeles the number of properties a host can register is now limited thanks to new legislation and strict registration requirements have been set. In Europe, Barcelona’s mayor, Jaume Collboni, announced plans to ban short term rentals, starting in November 2028.

Alibaba Exhibits Its AI-Tech Capabilities

Alibaba is one more Paris 2024 Worldwide Partner. Alibaba group of companies' goal is to support the Olympic Games with state-of-the-art digital technology including the broadcasting platform and cloud services. According to media reports, Alibaba’s platform supports over 60% of live broadcast signals across 54 broadcasters.

Alibaba’s contribution to the Olympic Games does not stop there. At the eastern end of the Avenue des Champs-Elysées, the Wonderful Avenue allows Paris’ visitors to immerse themselves in Olympic history and utilise cutting-edge AI technologies that could boost the AI-driven retail journey in the years to come, building a unique experience.

Alibaba is scheduled to announce its Q1 FY 2025 financial results on August 15th. A report published by Forbes noted that “Chinese e-commerce and cloud behemoth Alibaba stock has been a weak performer this year, rising by just about 1% since early January,” adding that the company has had to navigate the rough waters of the Chinese economy that still tries to adjust to the new conditions after the pandemic.

Trading the Paris 2024 Worldwide Partner Companies With Admiral Markets

Opening a trading account with Admiral Markets allows you to trade most of the Paris 2024 Olympic Games Worldwide Partners companies such as LVMH, Airbnb, Toyota, Alibaba and many others.

Beginner traders should understand how economic data releases impact the global forex market and work on enhancing their financial knowledge. One effective way to achieve this is by utilizing educational resources such as e-books, articles, how-to guides, and webinar videos, which are often offered for free by forex brokers. This approach can help improve skills, as inexperience can negatively affect overall trading strategies.

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This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Please note that such trading analysis is not a reliable indicator for any current or future performance, as circumstances may change over time. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the risks.