Sanofi & The Olympics: A Courageous Rebranding Story
In June 2024, just before the Games, the company will organize the Sanofi Cup finals in Paris, the Olympics host.
Highlights
Sanofi SNY 0.00%↑ will try to appear more modern and relatable. They want to be seen as a company that cares about health and inclusion, not just profits.
Sanofi will be involved in the torch relays and have their own team of athletes. This will give them more exposure and allow them to connect with Olympic fans.
Sanofi will use the Olympics to raise awareness about meningitis. They will launch a special flag and work with athletes to promote their campaign.
The Olympics represent a world of opportunities. Athletes can break world records and write history; journalists might create some of their most captivating stories; photographers may capture once-in-a-lifetime snaps; and brands could shift the world’s perception and create an entirely new presence.
This is precisely what brings one of the biggest pharma companies in the world to the grand Paris Olympic stage. Success and recognition aren’t something Sanofi struggles with. However, they seem to have a solid urge to shift the public image and appeal to the human factor rather than remain in the shadows of consumerism. The Sanofi Olympic debut campaign is personal and modern, and they’re spending millions of dollars on it—so let’s see what they have in store come July.
Sanofi’s Cool Olympic Mission
Sanofi’s multimillion-dollar Olympic campaign is inspired by its efforts to appeal to the younger audience and break out of the “big pharma” shell. The Paris-based pharmaceutical company has been struggling to acquire younger talent and appear modern rather than conventional—hence the heavy involvement in the Games that attracts many adolescent viewers. It has been a century since France last hosted the Olympics, and Sanofi, one of the dominant vaccine manufacturers and French drug market leaders, is seizing the opportunity.
In his Reuters interview, Josep Cattla, the head of the company’s corporate affairs, admitted that Sanofi’s goal is to launch a cool image rather than a conservative one. Furthermore, Cattla stated that Sanofi is an avid ‘diversity advocate’ highly interested in presenting science as “more inclusive, available, and meaningful to all.”
On the other hand, Paris 2024 President Tony Estanguet shared his excitement regarding Sanofi’s involvement in the Olympics, stating that Sanofi will contribute to promoting the Games throughout the country. In his own words, the newly acquired Olympic sponsorship will “contribute to a more active and healthier society,” as the two organizations “share the same values of high standards, creativity and sharing, and the same desire to be useful.”
The Torches Relays
Sanofi, a premium partner of the Olympic and Paralympic Games in Paris, is also the official partner of the torches relays. The company is taking the opportunity to present science and healthcare innovation by hosting the torch ceremony at multiple Sanofi sites.
Team Sanofi
The pharma leader is following the example of many Olympic sponsors by creating its own team. Team Sanofi gathered 14 Olympic and Paralympic athletes and coaches, supporting them in achieving their charitable dreams and reaching their potential.
The team includes coaches, tennis players, wheelchair basketball players, and doctors, emphasizing the importance of each role in Olympic teams. Sanofi also prides itself on providing an equal number of spots on the team for Olympic and Paralympic athletes, showcasing the need for inclusivity.
Other than the involvement in the Olympics, the criteria for selecting team members was their commitment to critical societal issues, such as women’s rights and LGBTQIA+ rights.
The Meningitis Flag
Sanofi is using the spotlight to raise awareness about meningitis by launching their own Meningitis Flag. The campaign represents Sanofi’s contribution to the World Health Organization’s mission to defeat meningitis by 2030. The flag is an original, first-ever symbol for all people united in the fight against this disease, co-created with three para-athletes battling meningitis.
Sanofian Volunteers
Instead of hiring volunteers, the Sanofi Volunteer Program includes employees applying for the role. Upon putting out the call, the company received over 11,000 applications. They narrowed the number to 2,024 Sanofian volunteers from 54 countries and different age groups, ethnicities, levels of management, and genders.
The chosen Sanofian volunteers also undergo company-hosted training focusing on inclusion, cultural awareness, and first aid topics. The company views this as an excellent opportunity for the Sanofians to give back, act in unity, and experience the Olympic madness firsthand.
The Sanofi Cup
Speaking of team unity, Sanofi organized the first-ever Sanofi Cup event in September last year to announce and celebrate the upcoming partnership with the Olympics. In June 2024, just before the Games, the company will organize the Sanofi Cup finals in Paris, the Olympics host. The goal of the cup isn’t only to raise spirits before the Games but also to inspire Sanofians to bond with their communities and get out of their comfort zone.
Rebranding Mission: Is Sanofi on the Right Track?
While escaping the comfort zone, some may wonder if Sanofi is testing their luck by investing millions in an Olympic campaign - something they have yet to experience. More importantly, the key stakeholders doubt the daredevil strategy and hold their breath as the company taps into new waters.
On the other hand, since the main goal is to attract youth and present the company in a brand new light, is there a better event than the one that 3 billion people tuned in in 2020?
Financial Outlook
Sanofi SNY 0.00%↑ latest earnings call reports full-year 2023 delivered 5.3% sales growth and 5.4% business EPS growth at CER (constant exchange rates).
Sales reached €43,070 million driven by Dupixent (€10,715 million, +34.0%, adding €2.8bn at CER), Vaccines (up 8.3%) which benefited from strong launch performance of Beyfortus (€547 millions) and CHC (+6.3%)
In Q4 2023, General Medicines decline moderated (down 2.4%), reflecting accelerated growth of core assets (up 6.3%), offset by lower sales of Lantus and non-core asset divestment.
Sanofi expects 2024 business EPS(1) to remain roughly stable excluding the impact of an expected effective tax rate increase to 21% and decrease low single-digit(2) at CER including the higher expected tax rate, barring unforeseen major adverse events. Applying average January 2024 exchange rates, the currency impact on 2024 business EPS is estimated between -3.5% to -4.5%.
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