GILLIAN GALINSKY
BIZ/TECH REPORTER
Companies across Canada have been profiting from the sale of unofficial Olympic-themed merchandise, but Humber business professor Colin Pearce says that’s not all bad.
HBC, the official sponsor of the 2010 Winter Games, paid $100-million dollars for exclusive rights to the Olympic logo, mascots, rings, and the words ‘Vancouver 2010.’
Pearce, who teaches business ethics at the North Campus, said that there is nothing unusual or unethical about companies trying to cash in on a big event by using the Olympic theme without breaking the law.
“The bottom line is it’s a competitive capitalist society where the common coin is profit,” said Pearce.
“And all businesses are expected to increase profit.”
Adam Scott, 20, in his first year in the fitness and health promotion program, agrees.
“I think you need to do what you need to do to make money in these times,” he said while sporting a red Canada T-shirt.
Lululemon Athletica, a Canadian sports lifestyle retailer, supports Canadian athletes without being an official sponsor, said spokesperson Allison Forsyth.
“We pride ourselves in supporting athletes year round,” Forsyth said.
“In the months leading up to the Olympics, we provided athletes with free housing, clothing, goal coaching, and access to the Lululemon learning library.”
As a two-time Olympian herself, Forsyth said she understands the value of an official sponsor licensed by the Vancouver Organizing Committee.
“VANOC is just doing what they need to do to make sponsors happy,” she said.
“But support can come at many levels.”
However, making money off of an event without officially sponsoring it is still viewed as unethical, said Jaedi White, 20, a first-year fitness and health promotion student.
“I think it’s unfair to profit off something you’re not supporting,” she said.
“It’s taking advantage of peoples’ patriotism.”
Pearce said people need to look on a deeper level to understand how unofficial merchandise does not detract from the integrity of the Olympic Games.
“These businesses are creating economic activity in recessionary times,” said Pearce.
“Any profits will be taxed, and taxes will go to support Olympic costs.”