Factbox: US firms bet on Paris Olympics with new stores, marketing push

On Holding AG

12/07/2024 11:00

July 12 (Reuters) - U.S. companies from Nike to Warner
Bros are opening new stores and holding big marketing events in
Paris before and during the Olympics, betting that excitement
for the summer games can help boost their sales.
    Comcast's  CMCSA.O  NBCUniversal said that International
Olympic Committee (IOC) sponsors spent 18% for the latest
Olympics compared to the 2021 summer Olympics in Tokyo. Here is
look at some of the U.S. companies whose executives have
recently touted summer Olympics plans:  
    
    NBCUniversal:
    NBCU said in April its streaming service Peacock would raise
prices of its premium and premium plus plan by $2 per month,
looking to cash in on its streaming rights to the Olympic games
this summer.  
    The media company said in June that U.S. television coverage
of the games will include celebrities, social media influencers
and generative artificial intelligence content to woo back
viewers who are eschewing live TV in favor of streaming services
and watching clips online.

    Nike  NKE.N : 
    Nike has said it was spending more on this Olympics than any
previous games, as it hopes to revive sales and compete with
upstart rivals. The company recently unveiled its new Nike Air
sneakers for athletes in Paris.
    "The Paris Olympics offers us a pinnacle moment to
communicate our vision of sport to the world. This is led by
breakthrough innovation and announced by a brand campaign that
you won't be able to miss," said CEO John Donahoe in June.
        
    Deckers Outdoor  DECK.N :
    The company's brand Hoka opened its second European retail
store in Paris in May. "We were excited for Hoka to have a
footing in this important market, particularly as the location
expects to see high traffic during the upcoming summer
Olympics," CEO David Powers said. 
    
    Coca-Cola  KO.N :
    The soda giant has plans for more than 70 markets where the
company would be hosting Olympic programs centered around the
Paris 2024 event using customer attraction opportunities to
target consumers through various experiences like in-store
trials.
    "For the first time, we are running a global shopper
activation at a full portfolio level activating five categories
across 60 countries to help drive shopper basket incidents," CEO
James Quincey said.    
    
    Procter & Gamble  PG.N :    
    The consumer products maker, one of the world's biggest ad
spenders and a sponsor of the Olympics, is focusing its
marketing at the games on its individual brands including
Pampers diapers, Gillette razors and Ariel detergent.
    "In the past, we've had both a P&G and a brand focus, and
this time we just really decided we're going to go focus, not
100%, but much more prominently, on brands," said P&G chief
brand officer Marc Pritchard. 
    
    Uber  UBER.N 
    In late May, ride-hailing platform Uber unveiled a raft of
measures including a tie-up to offer cruises on the Seine river
in Paris as it looks to meet explosive demand stemming from the
games. It will offer "Uber Cruises" free of charge from July 12
to Aug. 3, and customers can also book a day trip that includes
a champagne tasting through its "Uber Bubbles" launch.
    
    Levi Strauss  LEVI.N :
    In April, the denim maker said it was reopening its flagship
store in Paris' Champs-Élysées, one of most highly trafficked
shopping destinations in the world.
             
    On Holding  ONON.N :
    The Roger Federer-backed sportswear company said that during
the Olympics two of its stores will serve as hubs for the
running community to connect with company-sponsored athletes.
    On's co-founder Caspar Coppetti has said the company will
focus its marketing spend around the Olympics to drive demand
and create more brand awareness.
    
    Airbnb  ABNB.O :
    The vacation rental company noted that in the lead-up to the
Olympics, it has increased supply in the Paris market by 40%
year-over-year, CEO Brian Chesky said on an earnings call.
"Nights booked in Paris during the summer's Olympics are 5x
higher than this time a year ago."
    
    Warner Bros Discovery  WBD.O :
    The company, in an attempt to boost its direct-to-consumer
business, said it would launch its Max streaming service in over
25 additional markets across Europe.
    "Max will be the only place where viewers across Europe will
be able to watch every part of the Olympic games," Warner Bros
Discovery's Independent Director David Zaslav said. 
    
    Visa  V.N :
    The world's largest payments processor has close to 300
clients across 85 countries working with Visa to activate its
Olympic sponsorship for marketing campaigns and cardholder
engagement.
    CEO Ryan McInerney said that in Europe alone the company
expects its "clients to have issued over 5 million Olympic- and
Paralympic-branded Visa credentials before the start of the
games."

 (Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by
Shailesh Kuber)
 ((AnanyaMariam.Rajesh@thomsonreuters.com ; Twitter: https://twitter.com/AnanyaMariam;))