Kane came on as a 64th-minute substitute with Bayern already trailing 2-0 but soon after Olmo completed his hat-trick.
The record England goalscorer joined from Tottenham for a fee in excess of 100 million euros ($109.6 million) earlier Saturday.
Bayern fans had lined up hours before kick-off to get their “Kane 9” shirts printed at the club store.
Kane, who was given the number nine shirt vacated by Robert Lewandowski, had indicated on social media that he was “feeling good” and “looking forward to the match” after taking part in his first training session as a new Bayern player.
But he couldn’t turn the tide as Leipzig was awarded a penalty three minutes after his introduction.
Olmo converted the spot-kick to seal the first Super Cup title for Marco Rose’s side.
Kane, who has lost three finals with Tottenham and one with England, must wait for his first-ever trophy.
Leipzig had earlier stunned the Allianz Arena, taking the lead inside three minutes.
David Raum’s free-kick wasn’t dealt with by Bayern and Olmo calmly stroked the ball beyond Sven Ulreich.
The goal shook the hosts into action and Bayern’s best chances of the first half were crafted by Serge Gnabry and spurned by French teenager Mathys Tel.
The best of them came after a beautiful reverse pass by Gnabry that sent Tel clean through but he could only shoot straight at Leipzig goalkeeper Janis Blaswich.
Things went from bad to worse for Bayern when Olmo scored a fabulous second to double Leipzig’s advantage a couple of minutes before half-time.
The Spaniard’s deft pivot around Bayern defender Matthijs de Ligt allowed him the space to slot it calmly beyond Ulreich.
AFP
