Reuters - Video

EDITION: U.S. | U.K. | IN

Entertainment

Cannes attracts corporations cashing in on star power

Friday, May 24, 2013 - 01:28

May 24 - With all eyes on Cannes, corporations use festival's glamorous red carpet to promote their luxury products. Roselle Chen reports.

▲ Hide Transcript

View Transcript

Corporate sponsors at Cannes take advantage of the film festival, which is one of the most publicized events of the year. The showcase has historically had an association with luxury; with diamond necklaces, champagne and high end designer dresses all at center stage. Some major sponsors include Chopard, car manufacturer Renault and make-up brand L'Oreal. The non-sponsor brands can get celebrity association by being part of the unofficial gifting lounge, which for many years has been a festival staple. Stars that visit the lounge can walk away with as much as 30 to 40,000 euros worth of products. Lounge manager Nathalie Dubois-Sissoko gave just one example of what was on offer - a holiday for two at a high end resort in French Polynesia. SOUNDBITE: Nathalie Dubois-Sissoko, Cannes film festival gifting lounge manager, saying (English): "Most of these rooms retail for around 4,000 dollars (USD) a night so it's a very nice gift." Some critics debate whether being in Cannes actually has any value for corporate companies' finances or image. Justin Weston, the managing director of Cointreau, thinks that although there are no hard facts or figures surrounding a brand's appearance at the festival, the pay-off exists in a different way. SOUNDBITE: Justin Weston, managing director of Cointreau, saying (English): "It's the classic way of trying to use PR to create a bigger presence in the media than you would otherwise be able to maybe pay for. Clearly that's what it's about." An average of 4,000 journalists and photographers come to Cannes for the 12-day festival, now in its 66th year.

Cannes attracts corporations cashing in on star power

Friday, May 24, 2013 - 01:28

Top News »

The Exchange »

Moving Pictures »