Fashion giant Chanel has ventured into sport sponsorship for the first time after agreeing to become the headline partner of The Boat Race.
The annual Thames regatta between Oxford and Cambridge Universities will be known as The Chanel J12 Boat Race after the luxury brand, privately owned by Alain and Gerard Wertheimer, signed a long-term sponsorship deal.
The firm takes over from cryptocurrency exchange firm Gemini after their deal, which began in 2021, came to an end.
As well as being the title sponsor, Chanel will become the official timekeeping partner of the iconic 4.25m race, though it is not yet known whether – like Ralph Lauren at Wimbledon – the iconic fashion brand will be donned by officials lining the banks of London’s river.
Frederic Grangie, president of Chanel watches and fine jewellery, said: “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.
“It’s an honour to be the first ever official timekeeper in the race’s 195-year history to simultaneously become title sponsor and principal partner.”
Siobhan Cassidy, chair of The Boat Race Company Ltd, added: “We knew when we first met that they understood the appeal of our event.”