The stakes associated with next year's Rio Games "are high" for both Michael Phelps and sponsor Aqua Sphere, as they "pursue a piece" of the estimated $1B in annual sales of competitive and fitness swimwear worldwide, according to Liana Baker of REUTERS. Phelps is prepping for the Olympics "without the support of longtime sponsor Speedo," instead wearing a suit designed by a "virtual unknown in swim racing that is making its Games debut" in Rio. Phelps "has helped Aqua Sphere design a range of products in his name, called 'MP', with the initials to adorn the suit, goggles and cap he will wear at Rio should he qualify for the U.S. team." Aqua Sphere faces "some formidable competition from the likes of Speedo and other established swimsuit makers, such as TYR and Arena." But Bruin Sports Capital Exec VP David Abrutyn said that if Phelps "performs like he has in the past, Aqua Sphere could have a chance to break through." Octagon Olympic & Action Sports Managing Dir Peter Carlisle, Phelps’ agent, said that the swimmer "was attracted to the fledgling brand because it offered him the chance to promote the sport in the global market." Baker noted Aqua Sphere "has access to an international network of manufacturing, product development and sales offices through its parent company, Aqua Lung." Carlisle said that the agreement, whose value is unknown, runs through '20 and "functions more like a partnership, with equity-type elements, which may include royalties or a cut of sales that go to Phelps in addition to licensing fees" (REUTERS, 12/22).
SONI SIDE UP: Roka Sports announced that Gold Medal-winning U.S. swimmer Rebecca Soni has joined its roster of athletes. She will wear Roka's recently launched swimwear, along with the brand's wetsuits and goggles. Soni has retired from international competition (Roka).
