Beijing targets $70m from Olympics merchandising

Beijing targets $70m from Olympics merchandising
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First Published: Wed, Mar 07 2007. 04 05 PM IST
Updated: Wed, Mar 07 2007. 04 05 PM IST
REUTERS
BEIJING: Beijing Olympic organisers have targeted making $70 million from merchandising for the 2008 Games, marketing boss Yuan Bin said on Wednesday.
A range of 4,000 products -- most featuring the five “Fuwa” mascots -- are already on sale in more than 500 outlets in 70 cities around the country and licensed goods started going on sale overseas this year.
“We are very optimistic of meeting our goal and of course we might exceed it,” Yuan, director general of the marketing department at the Beijing Organising Committee for the Olympic Games (BOCOG), told a news conference on Wednesday.
The target, made up of $50 million from licensed products and $20 million from coins and stamps, might be considered modest for a country of China’s size when compared with the $52 million in direct revenue generated by royalties from merchandise at the 2000 Sydney Games.
Despite China now being a member the World Trade Organisation (WTO), it is still infamous for its counterfeit goods and fake Olympic T-shirts and key rings are already on sale in the capital.
Yuan, however, thought a combination of legal action and appealing to the patriotism of the Chinese people was proving effective.
“If they persist in faking products we will prosecute and we will also give fines and other measures,” she said.
“The Chinese people have a deep emotional attachment to the Beijing Olympic Games. We must continue to educate them and let them know that if they buy legitimate products, they are doing their part.”
BOCOG is spending $2.1 billion on building the venues and running next August’s Games, around half of which will be covered by the International Olympic Committee (IOC).
The city is also spending an estimated $40 billion on upgrading infrastructure.
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First Published: Wed, Mar 07 2007. 04 05 PM IST
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