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French luxury brand Chanel to sponsor Oxford v Cambridge Boat Race / Photo: Ben STANSALL - AFP/File
NYSE - LSE
French luxury brand Chanel to sponsor Oxford v Cambridge Boat Race
French fashion company Chanel is to sponsor Britain's historic Boat Race between Oxford and Cambridge universities from 2025, marking its first foray into sport.
The event will be officially renamed the Chanel J12 Boat Race from next year after taking the name of one of the company's luxury watches.
Chanel replaces cryptocurrency firm Gemini as the race sponsor and will also become the official timekeeper in a deal that will reportedly run until at least 2029.
That will be the 200th anniversary of the first men's race.
The annual race between England's two oldest universities, one of the longest-running sporting events in Britain, is staged on a 4.25-mile (seven-kilometre) course on the River Thames in London.
The 2025 race will take place on April 13.
"We are delighted to sign a strategic partnership with the Boat Race who share the same values of collective endeavour and the pursuit of excellence," said Frederic Grangie, president of Chanel watches and fine jewellery.
Siobhan Cassidy, chairwoman of The Boat Race Company, welcomed Chanel's sponsorship.
"We knew when we first met, on June 10 –- the same date as the first ever Boat Race in 1829 –- that they understood the appeal of our event and we're very confident that their involvement will help us take the event to new places and new people, as well as enhancing it for our millions of existing followers," she said.
L.Klein--BlnAP
