Breaking news: Johnson & Johnson just passed on the chance to renew its Olympic sponsorship deal. The IOC confirmed that the giant health care conglomerate would not renew its top-level sponsorship worth up to $100 million reports the Sports Business Journal.
The problem is that Olympic deals for Beijing helped sponsors break into China’s colossal consumer market and get on shelves in China. The next two games are in Canada and the United Kingdom – mature economies that combined have about a tenth of the population of China.
To reach cultural consumers at the Beijing Games, Johnson & Johnson set up a pavilion for fans to come see terra-cotta warriors from the time of emperor Qin Shi Huang – though tight security on the Olympic Green kept many visitors away.