Hot on the heels of LVMH’s recently announced 10-year partnership with F1, Chanel have chosen to sponsor the Boat Race between Oxford and Cambridge, marking their first foray into sports sponsorship in its 114-year history.
Gemba has taken a look at the drivers behind this partnership:
1) Target market: importantly, the partnership also allows Chanel to position itself in front of key potential customers. Gemba Insights show that while rowing is still a minority sport in the UK with only 7% of adults passionate about it, that jumps to 16% within those who have a household income of ￡100,000 or more and are 35 or older.
And 23% of that demographic are likely to consider purchasing a luxury watch in the next two years - like the Chanel J12 that will be the event’s title sponsor from next five years.
2) Chanel has been clear on its mission to advance the positive impact that gender equality brings to the world. The boat race is a great example of sporting gender parity, with the Men’s and Women’s races taking place on the same course on the same day, with the winning crews sharing the podium.
3) The luxury brand is now headquartered in the London and there are few more iconic events in the city than the Boat Race. A great opportunity to drive employee impact and brand engagement.
Exciting times for an event that’s been running since 1829.
If you’re a brand or a property understanding your target market, and aligning partnerships to it, is critical to effective value creation.
Gemba has significant experience helping our clients understand their target markets, plan their sponsorships and measure their , effectiveness. Get in touch to find out how we can help you too.
Senior Consultant @PwC | Expert for eCommerce, CRM Strategy, Digital Customer Experience and Agile Project Management
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