Showing posts with label Speedo. Show all posts
Showing posts with label Speedo. Show all posts

Phelps boost brands

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The greatest Olympic athlete so far, Michael Phelps is lifting up sponsors brands.
Phelps, who already receives an estimated $5 million annually in endorsement deals - more than 10 times what most of the high-profile athletes in his sport make - is likely to see his net worth increase by tens of millions of dollars.
According to Joyce Julius & Associates, Phelps’ air time on US network NBC has been worth $3.6 million for Speedo alone. Also senior vice president for marketing and sales for Speedo, Stu Isaac, said: "Truly, we've been able to leverage his popularity with all of our accounts because he has transcended swimming. It's helping Speedo become cooler and addressing a younger market outside just that core competitive swimmer."
Speedo offered a $ 1 million bounty if Phelps, only 19 at the time, could equal Mark Spitz´s record of seven gold medals, but the offer still stands for Beijing 08.
Phelps other sponsors include Visa, AT&T, Kellogg's, Hilton and Omega watches.
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Nike swimmers covering up Speedo Logo

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During this Olympic game, Nike allowed swimmers to wear the Speedo LZR Racer suit, but at leats three non-Speedo athletes have covered up Speedo´s logo.
Eric Wright of Joyce Julius & Associates said that "Usuallly they were throwing a piece of black tape over the logo". A replay of NBC´s broadcast of the 4x100 meter relay, Speedo´s logo can´t be seen on the suits worn by Nike-sponsored athletes Cullen Jones or Jason Lezak.
According to Wright, Speedo has lost 30 seconds of exposure in both the men's and women's competitions from the cover ups. "Which comes to $750,000 of value if you're comparing it to ad buys," he said.



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Nike will allow swimmers to wear Speedo Suit

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Nike sent a letter to swimmers allowing them to wear the Speedo LZR Racer Suit during the Olympics. The statement tells that wearing the Speedo brand during the competition will not be seen as a compromise to their contract with the world's biggest shoe and apparel company.
The main reason behind this decision it´s due to technologic advantage that those suits offer, before been aproved by FINA (The international swimming governing body) it was considered technological doping.
Many national teams changed their swimmers sponsors because of LZR superiority, but Adidas is insisting that its home country Germany, which it has a $6.2 million contract with through 2009, wear their swimsuit despite outspoken comments from the team and their desire to go Speedo.
After LZR suit, Speedo sales are up to 9.3 percent and Nike´s are down 7 percent.





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