France’s Major Corporations Support the 2024 Olympic Games
The 2024 Olympic Games might not guarantee a financial windfall for Paris and France, but they have certainly attracted significant investment from the country’s largest corporations.
Despite the rain during the opening weekend in Paris, top executives like Jean-Pascal Tricoire of Schneider Electric and Christel Heydemann of Orange were seen cheerfully posing for photos in ponchos. Tricoire even posted on LinkedIn, “Rainy event, happy event!”
These leaders are far from alone in their support of the Olympics. Nearly half of France’s Fortune Global 500 companies are official partners of the Games: Electricité de France (No. 55), Carrefour (No. 125), Vinci (No. 202), Saint-Gobain (No. 263), Sanofi (No. 299), Groupe BPCE (No. 300), Orange (No. 319), SNCF Group (No. 340), La Poste (No. 403), Schneider Electric (No. 421), and Air Liquide (No. 488).
It’s quite remarkable that so many of a G7 economy’s largest companies have rallied behind the Olympic Games. A significant factor is France’s centralized and state-directed economy, which allows leaders like President Emmanuel Macron to garner the support of the nation’s top executives for such projects.
Two additional forces contribute to this high level of corporate involvement. First, Paris has focused on sustainability, making participation attractive for companies like EDF, Schneider, Saint-Gobain, and Air Liquide. These firms are undergoing significant industrial transformations to achieve net-zero emissions and help their customers do the same. The Olympics provide a global platform to showcase their expertise.
Second, as physical and emotional wellness gain importance in society and business, supporting the foremost global event celebrating human health is a natural fit. For Sanofi, the Games are “a unique opportunity to combine innovation for health with the practice of high-level sport.” This rationale likely extends to other partners like Danone and Decathlon.
The Games also offer an exceptional branding opportunity. Companies are leveraging the global stage to enhance their image and visibility. The involvement of these major corporations is a testament to the strategic importance of the Olympics for brand exposure and corporate social responsibility.
In addition, the Paris Olympics have spurred innovation within these companies. For instance, Schneider Electric has developed new energy-efficient solutions to support the event’s infrastructure, demonstrating their commitment to sustainability and technological advancement. Similarly, Orange has rolled out advanced communication networks to ensure seamless connectivity for the millions of attendees and viewers worldwide.
Overall, partnering with the Paris Olympics is an obvious choice for the companies involved. Nerio Alessandri, CEO of Technogym, the official supplier of fitness equipment for the last eight Olympic Games, summed it up: “I have no KPIs, but it’s the most important exposure in the world.”
As the Games proceed, the collaboration between the Paris Olympics and these corporate giants will likely set a precedent for future events. The synergy between public enthusiasm and corporate participation could become a model for how large-scale international events are organized and supported, emphasizing sustainability, health, and global unity.
