On Jan. 19, the International Olympic Committee (IOC) and the Alibaba Group jointly announced a long-term partnership through to 2028 at the World Economic Forum in Davos, Switzerland. Alibaba will join The Olympic Partners (TOP) worldwide sponsorship program and become the official cloud services and official e-commerce platform services partner and the founding partner of the Olympic Channel.
Alibaba is the first company to make such a long-term commitment to the IOC through to 2028 and the first Chinese company to commit to the Beijing Winter Olympic Games 2022. The partnership will cover the next six Olympic Games, to include three summer and three winter editions.
As the highest level of worldwide sponsorship for the IOC, TOP will grant Alibaba exclusive worldwide marketing opportunities for their product, technology and service categories. Alibaba is the second enterprise on the China Mainland to become a member of the TOP Program, which is a key move for Alibaba to fulfill its goal of internationalization.
Going on the lowest amount of sponsorship for TOP in the past, it is predicted the 12-year partnership will cost Alibaba about 5.5 billion yuan. However, Alibaba hasn’t disclosed the financial details.
“We are proud to support Olympic Agenda 2020, using our innovations and technologies to help evolve the Olympic Games for the digital era. The partnership is built on a foundation of shared values and a common vision for connecting the world and enriching people’s lives,” said Jack Ma, Founder and Executive Chairman of the Alibaba Group.
Proofread by Sean O Diobhilin