Procter & Gamble and the International Olympic Committee (IOC) today announced a global partnership for the next five Olympic Games, starting from London 2012 to the 2020 Olympic Games.
The partnership has far reaching effects considering that P&G's portfolio includes 22 brands that generate $1 billion or more in annual sales, and reach out to four billion people worldwide. Some of its brands include Tide, Ariel, Pantene and Olay amongst others.
''P&G is proud to support the Olympic Movement for the next 10 years,'' said P&G global marketing and brand building officer, Marc Pritchard.
IOC president Jacques Rogge said, ''P&G's global reach and consumer insight will be a real boost in our efforts to communicate the Olympic values to a worldwide audience and their financial support over the next decade will benefit the entire Olympic Movement including the athletes themselves.''
Its brands will sponsor athletes and national teams. P&G will also continue its support to the families of Olympians by initiating the on-site activities used in the Vancouver 2010 Olympic Winter Games
P&G had partnered Team USA at the Vancouver 2010 Olympic Winter Games, which had resulted in increased favorability ratings, greater market share and nearly $100 million in incremental sales for the multinational corporation.
Pritchard added ''We know from our successful results in Vancouver that this is about much more than a sponsorship. For P&G, it's about partnering with the IOC to make life better for athletes, moms and their families as we take the Olympic Movement to our four billion consumers around the world that our brands already serve.''
P&G will also continue and expand its 'Proud Sponsor of Moms' campaign to assist the moms of the athletes.