The '16 Rio Organizing Committee (ROCOG) is "banking on the popularity of flip-flops and a yet-to-be-announced cuddly mascot to help meet a target" of $420M in total merchandise sales, according to Tariq Panja of BLOOMBERG NEWS. ROCOG is "halfway through completing 65 licensing agreements with companies that will produce and sell 12,000 games-related products, more than for any previous Olympics." About 16% of the total sales will go toward raising the $2.9B "needed to stage the event." ROCOG is "selling licenses to run 150 temporary stores," while also "targeting companies to make products including a bracelet that will send a signal to mobile phones every time a Brazilian wins a medal." ROCOG GM of Licensing, Retail & Concessions Sylmara Multini added that next month's selection of the Rio Games mascot "will go a long way toward determining the success of selling Olympic gear." Multini added that there were "specific reasons" why Fuleco, the armadillo mascot that FIFA used during last summer's World Cup, "failed to stir up much interest" before the event. Multini: "The name was a challenge and I think because of the political moment of Brazil they decided to step back with the mascot. I think we’re coming in at a different moment. I truly believe people are going to engage with our mascots." Multini "listed the mascot as a probable best seller and said organizers are in talks with local TV companies about creating a cartoon series." She said that up to 40% of sales "will be products for children between the ages of four and eight." Panja reported about 90% of Rio Games merch will be "aimed at the domestic market." Multini said that she is "close to striking a deal with one of Brazil’s biggest flip-flop brands." She added, "We believe we can sell millions of sandals" (BLOOMBERG NEWS, 10/13).
