In an upset, Hudson's Bay Co. has beat out Olympic fashion superstar Roots Canada for the right to outfit Canada's leading athletes for the next four Olympic games.
The deal, which cost the Bay $100 million, goes well beyond the standard marketing rights agreement, Olympic organizers said.
In addition to outfitting the team and winning the right to sell Olympic-branded clothing and luggage in its stores, Hudson's Bay will help Canada's Olympic organizers stage the 2010 games in Vancouver and spearhead a fund-raising drive for elite athletes.
"This is a huge day for us," said John Furlong, chief executive officer of the Vancouver 2010 Olympic Games Organizing Committee, adding the deal will help make Canada's elite athletes "Number 1" by the time the games reach Canada five years from now.
Hudson's Bay was "the clear winner" among 12 firms that bid, said Dave Cobb, senior vice-president of revenue for the Vancouver Games. The company had the best design concept and made the biggest financial commitment, Cobb said.
A disappointed Roots Canada, whose stylish uniforms and marketing zeal vaulted Canadian athletic gear on to the world stage at past Olympics, said it hadn't expected to lose the contest. Source.
