Locog plots outlets to sell London 2012-themed goods

olympics%202012The Organising Committee of the London 2012 Olympic Games (Locog) is planning to open branded retail outlets where it will sell licensed products, as part of its strategy for the sale of merchandising rights to London 2012.

The sale of merchandising rights is a key source of revenue for Locog, and the organisation says it aims to raise £65m from such deals.

It is considering a competition to design the mascot, which will play a core role in the merchandising programme (MW June 12).

It has not yet been decided whether the outlets will be standalone shops or possibly franchises in department stores.

It has also been suggested that London 2012 commercial partners with their own retail outlets could take part.

Licensing for a raft of London 2012-themed products will be sold, with three deals already made. Adidas, a Tier One London 2012 partner, has acquired the rights to produce co-branded apparel. The Royal Mint has purchased the rights to produce London 2012 coins and minted a new coin to mark the official handover from Beijing to London last month.

Meanwhile, Chinese company Honav has won the contract to supply souvenir badges and pins, in the second-biggest merchandising deal to date, after Adidas.

Many more licences are available for items such as stamps, video games, computer software and toys, including the highly lucrative Olympic mascot.

Locog director of commercial negotiations Charles Wijeratna says it is expected that about £1bn-worth of London 2012-themed products will be sold.

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