Rio 2016 Launch Games Licensing Program, Expect to Generate Substantial Revenue for Local Businesses

Rio 2016 Olympic organizers expect the Games to generate $750 million in revenue for local businesses.

The organizing committee launched the games’ licensing program on Tuesday, pill saying at least 150 companies have shown interest in becoming licensees for official products of the Olympics.

Organizers say the aim is for 60 licensed companies, order producing 12,000 products and opening 6,000 stores. About 150 official shops will be opened between 2014 and 2016. Eighty percent of those will be in Rio, including a megastore on the sands of Copacabana beach.

The first official Rio 2016 products will be sold during the 2012 Olympics in London.

The committee is reportedly expected to earn $100 million in licensing revenue.

by Ismail Uddin