Fashion Briefing: How brands are getting involved with the 2024 Olympics

Ticket sales for the Paris Olympics have been strong, with over 7 million tickets sold as of early 2024, according to intelligence platform Smith Travel Research. The city of Paris has been gearing up for the joint planning complexities of Paris Fashion Week season, which starts June 18, and Olympic festivities. And brands have been strategizing to connect with the crowds and athletes flocking to the city.

For its part, footwear brand P448 launched a plan to host a physical space around the Olympics last year, after its central Rue du Faubourg Saint-Honoré store lease ran out. It ended up with a hybrid showroom-store on Rue Royal, a one-minute walk from Place de Concorde, where BMX and skateboarding competitions will take place. “It’ll be one of the best athlete hangout places for shoppers and ambassadors, with our BMX and skateboard athletes coming in,” said CEO Wayne Kulkin. 

The space will function as an athlete meeting spot, a viewing area for other sports with TV areas, an event hub and a social media content studio. The brand has partnerships with many athletes, including Liam Pace, Yam Behar and Grace Marhoefer, skateboarders set to compete in the Olympics depending on qualifiers. In 2023, the company reported 12% sales growth, and it’s trending toward 25% growth for 2024 thanks to its recent expansion to Europe and Asia.

Brands are also making plans to connect with international audiences as they watch the Games on TV. During the 2020 Tokyo Olympics, more than 3 billion viewers tuned in around the world, and the viewership for Paris is expected to be larger. P448 plans to stream competitions and host themed events at its stores in Barcelona, Milan, New York, Macau and Shanghai.

In an interview with Glossy, a Puma spokesperson also said the brand is planning a multi-sport campaign push around the Olympics. In other interviews, Nike’s president of consumer, product and brand, Heidi O’Neill, said, “This Olympics will be our largest media spend” and “the biggest moment for Nike in years”.

TV networks, meanwhile, plan to cash in on the dynamic as the world’s top athletes — many of whom are also well-known personalities — come together at the Olympics. NBCUniversal, the Games’ official network, will focus on combining pop-culture-focused entertainment with sports viewing to appeal to a broader audience of American Olympics fans, according to Variety. Over 7,000 hours of competi­tion coverage and related programming will run from July 26 to August 11. NBCUniversal has sold $1.2 billion in advertising around the Paris games.

Among fashion brands, LMVH’s partnership with the Games has left fewer opportunities for other brands, in terms of official partnerships. Still, several brands are collaborating with athletes and teams to design and produce official uniforms and ceremonial outfits. For example, Ralph Lauren designed patriotic-themed Opening Ceremony uniforms for Team USA, and Lululemon worked with the Canadian team to design its outfits.

But athletes are no longer just an opportunity for high-profile partnerships. Many are also getting involved in brands’ product development processes, which is resulting in technologically elevated products and products reflecting athletes’ distinct styles. P448 is working with its Gen-Z Olympic skateboarders to design shoes with re-designed soles and uppers.  

“A lot of these athletes don’t get the best treatment from some of the really big sponsors, and there are not many [sponsorship contracts],” said Kulkin. “We are letting them be involved not only as ambassadors, but also as designers. We have multiple meetings with them and bring them to Italy, and then work with them on testing, feedback and content creation.”

Athletes such as basketball player Russell Westbrook, with his fashion line Honor The Gift, and football player Megan Rapinoe, with fashion line Re Inc, have evolved from endorsing products to becoming full-scale fashion designers and business owners. As such, younger athletes are seeing the potential in partnering on co-branded products that leverage their sports expertise and fan folllowings.

Research: Luxury brands are investing in gen AI

• According to research from a “Retail Reimaged” report this week by consulting company Deloitte, 52% of retailers plan to use generative AI to create publications and reports, and 25% intend to use it for brand campaigns and marketing. Brands in the luxury sector are increasingly embracing personalized recommendations and targeted advertising to analyze consumer behavior and preferences in real-time.
• The main issues with using generative AI still lie in data origin. According to a Deloitte spokesperson, unstructured data from unknown sources exposes brands to data security risks.

New funding

• Amira Rasool’s startup, The Folklore, raised $3.4 million in a seed funding round to expand its services and support more brands. The company was founded in 2018 to help fashion brands from emerging markets access the global market. It has evolved into a B2B marketplace and wholesale management platform serving a diverse range of consumer companies.
• Veesual, the Paris-based AI-powered virtual try-on platform for the fashion industry, has raised $7.5 million in a seed funding round led by AXA Venture Partners and Techstars. The company will use the funds to expand into the U.S. market by opening a New York office in 2025, hiring senior U.S. talent and enhancing its product offerings for U.S. apparel companies.

Executive shifts

• Thibaut Perrin-Faivre, former president of Burberry Americas, has been appointed the new CEO of Ulla Johnson, succeeding Donata Minelli Yirmiyahu. He’ll be spearheading the company’s global strategies from its New York headquarters starting Monday.
• Julia Goddard, currently the EMEA president at Alexander McQueen, will become the CEO of U.K. department store Harvey Nichols in June, succeeding interim CEO Pearson Poon, who is the son of the store’s owner, Hong Kong tycoon Dickson Poon.
• The California Fashion Association president Ilse Metchek is stepping down, and the organization is merging with the California Retailers Association.
• Alexandre and Frederic Arnault joined the LVMH board. 
• Dr. Martens CEO Kenny Wilson is stepping down as the company faces financial challenges.

Inside Glossy’s coverage

• Maison Margiela joins luxury brands in targeting collector customers with phygital products.
• U.K. fashion brand Rixo is taking on the states, starting with a pop-up.

Other news to know

• Laura Ashley, the famous British brand known for its feminine aesthetic and floral prints, is relaunching its womenswear line this month after years of focusing on homeware. 
• The FTC is reportedly planning to sue to prevent Tapestry, the parent company of Coach, from completing its $8.5 billion acquisition of Capri, the owner of Michael Kors, according to NYT Dealbook sources.