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Olympics marketing sets $1.3 billion record

January 31, 2014, 16:24 UTC+3 SOCHI

It beats Vancouver 2010 takings by 50%

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© ITAR-TASS/Vladimir Smirnov

SOCHI, January 31. /ITAR-TASS/. Even before the games are under way, Sochi Winter Olympics organizers have netted more than $1.3 billion from marketing the event.

It's an absolute record for winter Games, beating Vancouver 2010 takings by 50% and three times up on the forecast, Dmitry Manevich, committee marketing director, told journalists on Friday.

Five thousand licenses had been issued to sell souvenir products bearing Sochi 2014 symbols, Manevich said. Sales may reach $500 million, of which more than $30 million will go to the organizers.

Goods with Sochi symbols are on sale at 4,500 retail outlets. "Plush toys are record-beaters. More than 3.6 million mascots have already been sold," said Yelena Zemyatova, licensing director. "More than one million white teddy bears have been bought along with more than 300,000 pairs of skates, 70,000 pairs of cross-country skis and 260,000 footballs," she said, reporting goods most popular with buyers.

Sales would peak during the games, she said. Thirty retail outlets would open in cluster grounds including the main Olympic shop near Medal Plaza in the Pribrezhny coastal area.

"Olympic retailing will continue in our country until the end of 2014," the director said. "We are aware that after the games are over, there will be time for selling the goods off. Beginning from April 1, network retailers may start lowering the price of souvenirs with the Olympics symbols.

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