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