Sanofi Takes an Olympic Leap with Bold Rebranding Effort in the Pharmaceuticals Arena

Total Views : 48
Zoom In Zoom Out Read Later Print

Sanofi, which some estimate is spending tens of millions of euros on the Paris Games, says it has sometimes struggled to convince prospective young data managers and data scientists that a pharmaceuticals company is a "cool" place to work.

Sanofi is hoping that by sponsoring the Olympic Games it can attract new talent, reward existing staff and shake off the French drugmaker's conservative image.

The 2024 Games has gained other new partners from the host nation France, including luxury goods giant LVMH (LVMH.PA) and supermarket group Carrefour (CARR.PA).

Sanofi, which some estimate is spending tens of millions of euros on the Paris Games, says it has sometimes struggled to convince prospective young data managers and data scientists that a pharmaceuticals company is a "cool" place to work.

"We're using the Olympics to show that we are," said Josep Catlla, head of corporate affairs at Sanofi, which is also supporting popular French breakdancer Dany Dann.

The median age of Olympics viewers is rising, data firms have said, and the International Olympic Committee has been trying to drum up Gen Z and Millennial interest through social media campaigns as younger audiences move away from TV, and by introducing newer sports such as breakdancing and skateboarding.

Sanofi is financially supporting 14 individuals in Paris, including British Paralympic swimmer Ellie Challis, in a team comprising an equal number of men and women, and an equal number of Olympic and Paralympic athletes.

Olympic sponsorship fees alone are between 80 million euros ($87.5 million) and 150 million euros, French media reports have said.

Nick Blenkarne, head of strategy at branding agency Imagination in London, said Sanofi is likely to be looking at its "expensive" sponsorship through several lenses.

These include how it could change the way consumers perceive the company, how it could attract business customers through hospitality programmes, and how it could widen its appeal.