Licensing from Rio 2016 to bring $750M in revenue



RIO DE JANEIRO (AP) — Rio Olympic organizers expect the 2016 Games to generate $750 million in revenue for local businesses.

The organizing committee launched the games’ licensing program on Tuesday, 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, 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.