Olympic merchandise is likely to net China at least US$70
million, said Games organizers yesterday.
Yuan Bin, director of the Marketing Department at the Beijing
Organizing Committee for the Games of the XXIX Olympiad (BOCOG)
said she was "very optimistic" about reaching, or even exceeding,
the target.
"We achieved our sales goal last year," Yuan said, although she
declined to reveal how much money had been made by the Olympic
licensing program.
"Our marketing program is going well. We are trying to balance
expenses and income and I think revenue generated from the program
will cover the Games' expenses.
"I am optimistic that marketing income will surpass that of
previous Games."
The Marketing Department recruited eight manufacturers and 34
distributors in 2006, meaning there is now a total of 130
enterprises licensed to produce goods for the 2008 Games.
So far, more than 4,000 licensed products have gone on sale in
about 500 franchise stores in 70 cities across the country.
With new franchise stores opening this year, the total number of
stores is expected to rise to 2,000 by 2008, covering all
provincial capitals and major cities.
In Beijing flagship Olympic franchise stores will be opened in
main business districts.
China Post will launch its third set of Olympic commemorative
stamps and the Bank of China will begin selling a second set of
Olympic coins.
BOCOG also aims to produce more low-cost licensed merchandise,
meeting the demand from Chinese people from all walks of life.
Meanwhile the licensing program also includes overseas
sales.
Yuan said the overseas licensing program was jointly designed by
the International Olympic Committee, BOCOG and the National Olympic
Committee (NOC).
BOCOG has been working with the US Olympic Committee to sell
Beijing Olympics licensed products, and is cooperating with
Southeast Asian countries.
Organizers have also been in touch with the organizers of the
2010 Vancouver Winter Games and the 2012 London Games.
"This year through the torch relay we are going to start
promoting our overseas licensing program in international cities,"
said Yuan.
(China Daily March 8, 2007)