Source: CCTV.com

04-28-2008 11:15

Special Report:   2008 Beijing Olympic Games

Fuwa, the mascots of the Beijing 2008 Olympic Games, represent the Beijing-welcomes-you spirit, which is what the combination of their names literally mean. And they're proving to be some of the most popular Olympic souvenirs.

Crowds of people have been flocking to Olympic stores for Fuwa and other items ranging from Olympic badges, clothing, to commemorative coins. It's a chance for them, to hold on to a piece of history.

Lenovo is one of the global partner of the Beijing Olympics.

If you want to know how popular these Olympic licensed products are, I can tell you. Here in Beijing's busiest pedestrian shopping street, Wangfujing alone, 15 Olympic merchandising stores have opened. And as I walk out of this flagship store, there is another one-just opposite.

The Beijing Organizing Committee for the Olympic Games, or BOCOG, estimates total turnover of Olympic merchandising items will reach one billion US dollars. But economists highlight, the bigger picture.

Chris Gratton, Professor of Sports Industry of Sheffield Hallow University said "In the whole economics, it's relatively unimportant. Licensed products account about 3 to 4 percent of the local organizing committee's revenue, historically. But the five mascots in China are very much the way how the Beijing Olympics is branded. That will become more international as it gets closer to the game."

Merchandising items such as Fuwa are cute and help the public connect with the Olympics not just in China but around the world. But merchandising sales is just a fraction of the Olympic revenue. The real cash comes from them-the Olympic sponsors.

Jiang Xiaoyu, Executive Vice President of BOCOG said "The Sponsorship Program developed for the 2008 Games is the most comprehensive package ever created. Firms sponsoring the Games are divided into four tiers."

The Olympic Partners Program, or TOP members are at the highest level of sponsoring. According to the IOC, The price tag for this honor-around 55 to 65 million US dollars for a four year association, with both the Winter and Summer Olympics.

Yuan Bin, Director of Marketing Department of BOCOG said "These are companies who are solely associated with the Beijing Olympics. The second, third and fourth tier are the Beijing 2008 Partners, Sponsors, and Suppliers respectively, according to their contribution to the Beijing Olympics."