Chanel has had its first sports sponsorship with the Oxford-Cambridge boat race as
it has become the official partner for the race. The race has been branded as “The
Chanel J12 Boat Race”, which will take place in 2025 and Chanel has signed to be
the official sponsor until the year 2029. Chanel has been placed in this position as
the American crypto currency Gemini was the previous company which was filed for
bankruptcy this year, founded by the Winklevoss brothers. Chanel and the boat race
have made a statement about their partnership, “The long-term partnership is an
expression of a shared philosophy, one of an uncompromising pursuit of excellence
which relies on collective effort to succeed”. Chanel is not the only French fashion
house to get involved with the sport industry. Louis Vuitton with LVMH have
sponsored the Paris Olympics this year and have announced that a 10 year $1 billion
partnership with Formula one will take place. Louis Vuitton is replacing Rolex who
were the sponsor of Formula one previously. According to Companies House, the
Boat Race Limited company has paid the two universities boat club’s a combined
total of £500,000. The boat race is traditional for both of the universities as they are
both of the oldest universities and is a rowing race between the two universities.
Lets see which university will qualify on top.
