Paris 2024 Summer Olympics Games logos.

French capital Paris unveiled the logo for its bid to host the 2024 Olympic and Paralympic Games at the Arc de Triomphe at 20:24 local time on Tuesday.

The emblem, featuring colored stripes forming the number 24, was claimed to be designed from a modern interpretation of the city's iconic symbol Eiffel Tower. It was produced by Paris-based independent design agency Dragon Rouge and came out through a tender procedure.

During a launching ceremony having projected the logo onto Paris' another landmark Arc de Triomphe, the bidding campaign's leader Bernard Lapasset, also chairman of World Rugby, said it represented the capital's "history, dynamism and ambition".

"The logo is a modern interpretation of Paris' most iconic symbol, the Eiffel Tower, that reflects the city's rich and beautiful history whilst also conveying the positive sense of optimism, drive and ambition of this vibrant metropolis," read a statement by the Paris 2024.

Also attended the ceremony were co-chairman Tony Estanguet, a member of the International Olympic Committee (IOC) Athletes' Commission and triple times canoeing Olympic champion, as well as Paris Mayor Anne Hidalgo.

"The new bid logo showcases the beauty and elegance of Paris while highlighting its status as a modern, dynamic and cosmopolitan global hub, a creative and inspiring center that is constantly evolving and reinventing itself," said the female mayor.

Paris, seeking to host the Olympics on the 100-year anniversary of it second time holding the Games, is competing against Budapest, Rome and Los Angeles.

The French capital could join London to become the second city to host the Olympics three times after having hosted the grand events in 1900 and 1924.

Earlier on Tuesday, the Paris bid committee also announced to have signed up sponsorships with four companies, giving their bid a budget boost around eight million euros.

The candidate cities are now expected to finalize their candidature files to the IOC by the handover ultimate date on February 17. And the IOC will vote for the host city in September 2017 at its Session in Lima, Peru.

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