Luxury Brands Embrace Winter Olympics in Italy for Global Exposure

Luxury Brands and the Winter Olympics

MILAN, Jan 30 (Reuters) - The Milano Cortina Winter Olympics have caught the eye of a number of luxury brands, as the Italian fashion capital and the exclusive Alpine destination prepare to host wealthy tourists from around the world and attract a huge broadcast audience.

Brand Engagement in Olympic Events

Luxury brands have opened boutiques in Olympic venues, dressed several national teams and launched small 'capsule collections' inspired by winter activities, as they increasingly turn to sports to promote their products.

"Luxury brands have been gravitating toward the world of sports for quite some time now... Now, with the Winter Olympics, a new opportunity arises to further cement this connection," said Emanuela Prandelli, associate professor of Fashion & Luxury Management at Milan's Bocconi University, noting that this comes at a time when affluent consumers are increasingly choosing to spend on unique experiences rather than luxury products. 

"The goal for all is to reach a broader audience brought together by the values of sport and the glamour of the event, inspiring the most aspirational clientele while simultaneously offering new reasons for desire to the more established luxury customer base," she said.

New Store Openings in Cortina

Armani's sport line EA7, which has been the official technical outfitter of Italy’s Winter Sports Federation (FISI) since 2022 and counts top Alpine skier Sofia Goggia as ambassador, will serve as a partner at the Winter Olympics and - once again - as the official outfitter of the Italian team.

Ralph Lauren, which has been the official designer for the U.S. team since 2008, will dress the American Olympic team again this year at the Games.

The Winter Olympics run from February 6-22.

NEW STORES ON CORTINA'S CORSO ITALIA

For Moncler, these Winter Games mark a comeback after almost six decades, having started life as a supplier of mountain kit and having featured for the last time at an Olympics in Grenoble in France in 1968.

The Italian outerwear brand — for whom Brazil's skier Lucas Pinheiro Braathen is an ambassador — will be the official sponsor of the Brazilian Olympic Committee for the opening and closing ceremonies and the technical sponsor of the Brazilian Alpine ski team.

Cultural Impact of Luxury at the Olympics

"Luxury is increasingly treating the Olympics as a cultural mega-platform where 'savoir-faire' can be staged on a global scale, especially when the host city aligns with brand heritage", said Noemie Voyer, fashion expert at Luxurynsight, noting that this happened when LVMH partnered with the Paris 2024 Olympic Games.

That strategy is also playing out on the ground in Cortina d'Ampezzo, a town in the Dolomites that has been popular with well-heeled tourists since it hosted the Winter Games in 1956.

Luxury brands have been racing to open or refurbish boutiques in the Alpine resort, which has just over 5,000 permanent residents.

Prada and Loro Piana have opened new stores on Cortina's main Corso Italia shopping street, while Dior, Louis Vuitton and Swatch have renewed their retail spaces in the town. Historic local multi-brand boutique Franz Kraler has also carried out major renovation works ahead of the influx of visitors.

(Reporting by Elisa AnzolinEditing by Keith Weir)