Game, Set, Match

How Luxury Brands can Ace the Olympics

Serena Williams serving at the US Open in 2018.

Few events command the global stage like the Olympics, and the 2024 Paris Olympics should be like no other. LVMH is one of the main Olympic sponsors this year, partnering over a shared goal of drawing on the excellence of French savoir-faire. There’s an opportunity here for luxury brands, both French and international, to embrace the sporting world once more. This time, with longevity in mind. However, to do so successfully hinges on three considerations. Firstly, what we can learn from elsewhere in the Venn diagram of sports and fashion, as tennis style resurges. Secondly, the importance and impact of sponsoring the right talent. Finally, avoiding the pitfalls of the current luxury sportswear offerings.

Have you heard? Tennis style is back in. Data But Make it Fashion reported that it had increased by 80% in popularity during the month of March. Regardless of its current popularity with fashion-lovers on social media, it represents the most enduring relationship between both worlds. Let me prove it with a simple example. What words come to mind when you think of the Serena Williams? For me, I think two things. Winner. And Nike. Whatever word you thought of first, any brand would be happy to be associated with it. Sponsorships like these have an influence that extend far and wide, beyond the sport to inspire new generations of athletes who are allowed to feel like they look good without compromising functionality. For me, the best Serena Williams fashion moment will always be the lilac tutu at the 2018 US Open, after the French Open banned her iconic black catsuit.

Zendaya in custom Lacoste by Pelagia Kolotouros - Instagram

The other tennis-fashion example that cannot be ignored is the success of Lacoste – a premium label, synonymous with tennis heritage through its polo shirts originally designed for on-court performance. Now, product ranges from athleisure, to Zendaya-worthy red-carpet custom, to other sports like golf, whilst still remaining strong in its initial offerings. Djokovic is an ambassador on and off the court. 2022 revenue was $2.69 billion.

 

March even saw SKIMS venture into sportswear by releasing a mini-collection of tennis skirts. Resurgence of tennis style has been mainly created by social media – it is seen as an aspirational sport with many influencers turning to tennis lessons as prime “Day in the Life” content. Luxury brands however should not follow the same strategies as brands like SKIMS, who use quick turnaround time much as a fast fashion brand would to keep up with consumer habits and trends. Think about how much more iconic the SKIMS ad would have been if it starred a tennis athlete. The fact that they are usually so on top of their marketing campaigns meant that this drop felt like an obvious flash-in-the-pan campaign rather than a product line they plan to make long-lasting.  

Serena Williams' campaign shot for Nike. An example of simple yet highly effective and inspiring marketing move.

 

Instead luxury brands should be looking to reclaim control over trend-setting by strategically sponsoring the right female Olympian talent. By leveraging the influence and aspirational appeal of these athletes, luxury brands can emphasise the savoir-faire and pursuit of excellence inherent in both spaces. LVMH have already started doing this with French Olympians, with Louis Vuitton sponsoring swimmer Léon Marchand and Dior signing gymnast Mélanie de Jesus dos Santos, but other brands should be looking to follow suit. Investing in long-term partnerships with female athletes, luxury brands can cultivate a sense of authenticity that transcends the ephemeral nature of social media trends. Furthermore, sponsoring female Olympians can have a natural ripple effect of empowerment, rather than be perceived as slightly exclusionary instead of aspirational as when using other celebrities as ambassadors. By championing diversity and inclusivity in sports and fashion, luxury brands can drive meaningful change in the cultural landscape rather than just for those interested in fashion.

 

The last consideration luxury brands should use to prove they can do it better, is that the current ‘luxury’ athleisure or performance-wear brands are simply not good enough. A primary criticism levelled against the industry is that of a lack of sustainability and ethical consideration both across the supply chain and within corporate offices. Even if what is currently offered is positioned as luxury regarding market positioning and price, the quality rarely is up to a luxury standard. From the lack of material innovation towards less polluting options beyond simply being made of recycled tissue, to the manufacturing operations more closely matching with fast fashion practises – these brands are not being held responsible against the same expectations consumers have for traditional luxury brands. There is a clear gap in the market for brands to expand product offerings in a more conscientious manner.

 

As the world turns its attention to the Paris 2024 Olympics, luxury fashion has a prime opportunity to shine. By drawing inspiration from the prolific relationship between tennis and fashion, sponsoring the right talent to set trends rather than falling victim to them, and prioritising sustainability and design integrity, luxury brands can redefine aspirational and functional creativity across design, marketing and CSR initiatives. The Olympics represent more than just sport, they are a runway for innovation, excellence and savoir-faire. It’s time for luxury fashion to step up its game.