Top companies back a winner
THE Melbourne Cup is fewer than 100 days away and already companies from around the world have flooded race organisers with sponsorship and hospitality deals that will push revenues in this year's spring racing carnival 20 per cent above those before the global financial crisis.
The Victoria Racing Club, which runs the race that stops a nation and helps generate more than $750 million in economic activity, is experiencing strong demand for tents and marquees in the highly fashionable Birdcage, led by James Packer and his Crown Casino, which will celebrate the carnival trackside for the first time this year.
Close on the heels of the Crown deal, BusinessDay can also reveal the VRC has recently inked a string of new and highly lucrative sponsorship deals, including French champagne house G. H. Mumm, which has re-signed as official champagne sponsor for the next five years. The company replaced Moet & Chandon as the official bubbly of the Cup two years ago.
"The successful three-year partnership between G. H. Mumm and the Melbourne Cup Carnival has contributed to the brand becoming the fastest-growing champagne in Australia in the last financial year, and also the fastest-growing market for G. H. Mumm worldwide,'' said Julien Hemard, managing director of Pernod Ricard Australia.
Close to 100,000 bottles of champagne are consumed during the Cup carnival each year.
Read more at Brisbanetimes.com.au