Organizers of the 2008 Beijing Olympic Games plan to increase
the number of Olympic franchise stores almost tenfold to 5,000
across China by the end of this year.
The current 600 franchised stores, mostly in major cities like
Beijing and Shanghai, were insufficient to cover small and medium
sized cities, said Chen Feng, vice marketing director with the
Beijing Organizing Committee for the Games of the XXIX Olympiad
(BOCOG).
The BOCOG also plans to open franchised stores overseas this
year, said a committee official who refused to give his name.
Price rises of franchised goods were prohibited as the Olympics
approached, said Chen, adding the BOCOG had brought out 200
low-priced products, including badges, toys and stationery, before
the Spring Festival.
He said the BOCOG would try to sell all the franchised goods
within three to six months of the end of the games and after that
no goods would be on sale.
The China Securities Journal on Thursday reported unnamed
analysts forecasting sales of franchised goods would hit?US$1
billion.
The BOCOG's sales target is US$700 million.
Companies applying for a franchise must have a registered
capital of five million yuan (US$641,000) and a widespread sales
network, according to the BOCOG website.
The BOCOG is still considering plans to grant franchises to
individual dealers, said Chen.
(BOCOG, February 9, 2007)