Cannes Festival: a crucial event for luxury brands

For about ten days, from May 14 to 25, the famous Croisette and the Cannes Festival will be the perfect showcase for luxury brands. This event has become crucial for the sector: it asserts brand identities, offers international exposure, and, especially in recent years, has seen increasingly strong alliances formed between luxury houses and film productions. These factors make the festival an essential event for the growth of major brands.

The opening ceremony will take place this evening at the Grand Théâtre Lumière, where Meryl Streep will receive an honorary Palme d'Or, 35 years after winning the Best Actress award for “Evil Angels”.

However, this year, a few shadows are looming, causing concern among organizers: possible strikes by film industry workers, the likely release of a list of actors and directors accused of harassment by several MeToo collectives, and the controversy surrounding the film “Un p'tit truc en plus” (A Little Something Extra). The team of the film directed by the French producer and actor Artus includes actors with disabilities, who have apparently struggled to find a fashion house willing to dress them for official ceremonies.

Nevertheless, luxury professionals remain confident. Once again, the Swiss brand Chopard will be the Official Partner of the festival (since 1998). As the creator of the Palme d'Or and all the prizes awarded at the end of the competition, Chopard also promotes the new generation of cinema by awarding the Chopard Trophy to young actors each year.

The production company Saint Laurent, associated with the eponymous fashion house and led by Anthony Vaccarello, is presenting three films in the official competition: “The Shrouds” by David Cronenberg, “Parthenope” by Italian director Paolo Sorrentino, and “Emilia Perez” by the talented Jacques Audiard.

In a statement, Vaccarello expressed his desire to boost the image of the fashion house and its collections by choosing a cinematic counterpart that aligns with the brand's universe. Investing in cinema is seen as an effective way to strengthen the identity of a brand that has already proven itself on numerous occasions: LVMH with 22 Montaigne Entertainment or Chanel and its connections with top directors.

The revenue generated by the Cannes Festival is estimated at 200 million euros, with an additional 40 million euros from media exposure, an amount that undoubtedly attracts the interest of major brands.

Once again, BMW will serve as an Official Partner, providing its fleet of high-end electric cars for VIPs and guests throughout the event. The hospitality sector will also benefit. For luxury hotels in the region, a film festival edition generates about 20% of their annual revenue, according to the hotel industry union.

And of course, fashion houses from around the world will dress the stars as they do every year. This year, Lanvin dresses, Sergio Rossi shoes, and Borsalino accessories will be particularly trendy.