As a major sponsor, LVMH’s branding was a consistent theme across the three-week event, which was watched by millions worldwide.
Parisian jewellery brand Chaumet was tasked with creating the Olympic Medals; however, less than one year after the competition closed, the company now faces a significant reputational challenge.
Each medal took 15 days to complete, from stamping the design to dipping it in gold, bronze and silver and finishing it with a coat of varnish. More than 100 athletes have now asked for their ‘crumbling’ medals to be replaced.
“Medals have had to be replaced in other Olympics — notably in Rio de Janeiro in 2016. But in no previous Olympics has a company stamped its brand credentials so prominently. The issue seems to be most acute with the bronze medals, problems for which athletes first started flagging shortly after receiving them,” a report from The New York Times reveals.
“The International Olympic Committee has apologised and says it will find replacements. Monnaie de Paris, the French mint, which produced the medals, has so far taken responsibility, blaming the problem on a technical issue related to varnish.
“And LVMH has been happy to let the other organisations do the talking. A spokesman for the company said because it did not make the medals and is not responsible for them, LVMH has no comment.”
Monnaie de Paris confirmed that an internal inquiry was launched after reports of bronze medals rusting were received as early as August.
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