Chanel sponsors Oxbridge rowing...Participation in the first sports event

French luxury brand Chanel is the first sports event to sponsor a rowing rivalry between Britain's prestigious Oxford University and Cambridge University, the daily Financial Times (FT) and The Times reported on the 22nd local time.

The Boat Race, a rowing race between Oxford and Cambridge universities that began in 1829, is held at the end of March or early April every year on a 6.8km section of the Thames River.

It is a popular competition that attracts 250,000 spectators and is watched by millions on TV.

Chanel will succeed its current sponsor, the cryptocurrency exchange "Gemini," as the main partner and official timekeeper of the boat race until 2029, the 200th anniversary of the men's race and the 100th anniversary of the women's race.

As a result, the competition will be called the "Chanelle J12 Boat Race" from next year after the name of Chanel's watch.

The amount of sponsorship was not disclosed.

Last year's disclosure papers showed Boat Race Limited, which manages the race commercially, paid 500,000 pounds (about 900 million won) to the two university rowing clubs.

Chanel, owned by the Alain Wertheimer family, used Hollywood star Margot Robbie or K-pop Blackpink's Jenny as ambassador, but unlike many other luxury brands, it did not sponsor sporting events, the FT said.

LVMH was the biggest sponsor of this year's Paris Olympics and recently signed a sponsorship deal with Formula One.

Watch brand Omega is the official Olympic timekeeper and global sponsor, while Rolex sponsors Wimbledon.

Giorgio Armani made the Euro 2024 Italian men's soccer team uniform, while Ralph Lauren made the Olympic U.S. team uniform.