The perfect fit: how sport and fashion became a dream team

Gucci tennis bags at Wimbledon, Arsenal stars on Burberry's front row ... the link between the stadium and the catwalk is closer than ever

Serena Williams will receive the Fashion Icon award at the high-profile CFDA awards in New York next month. As a sharp dresser with her own clothing line, an honour from the fashion industry makes sense. But this is also the first time an athlete has got this award. It's a sign of the increasing closeness between sport and fashion - something set to increase in the run-up to the Paris Olympics next year, which will be sponsored by the world's biggest fashion conglomerate, LVMH.

According to a report by the trend analyst Lefty, alliances between sports and fashion have generated $78.5m (64.7m) in earned media value (EMV) - the metric that measures the earnings a brand can expect from mentions on social media - so far this year.