PARIS (AP) — The world's biggest luxury group, LVMH Moët Hennessy Louis Vuitton, announced a sponsorship deal Monday with the 2024 Paris Olympics and Paralympics, joining the ranks of top-tier French sponsors such as banking group BPCE, pharmaceutical maker Sanofi and supermarket operator Carrefour.

Antoine Arnault, one of the heirs to the LVMH empire, confirmed the deal during a news conference also attended by International Olympic Committee President Thomas Bach, Paris 2024 chief organizer Tony Estanguet, Paris Mayor Anne Hidalgo and France's sports minister, Amelie Oudea-Castera.

LVMH is led by Arnault's father, Chairman and CEO Bernard Arnault. Its collaboration with the Games will include various company brands like Louis Vuitton, Dior, Moet Hennessy and Chaumet.

Prestigious jeweler Chaumet will design the medals for the Games, and the French athletic delegation will wear clothes from one of LVMH's fashion houses. Sephora, LVMH's beauty retailer, is sponsoring the Olympic torch relay.

Additionally, LVMH plans to sponsor athletes, including French swimmer Leon Marchand.

The specific terms of the deal were not disclosed.