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2010 Olympic mascot replicas selling out quickly
The Canadian Press
Date: Wednesday Dec. 19, 2007 7:40 AM ET
VANCOUVER Cheering children greeted the unveiling of a trio of 2010 Olympic mascots and now cheers are also coming from Olympic officials.
Stuffed replicas of Quatchi, Miga and Sumi have been flying off store shelves since they hit the market last month and Vancouver's Olympic organizing committee says they expect them to sell out by Christmas.
That's even after officials ordered 30 per cent more of the mythical creatures than retailers had asked for.
Precise figures on how much money the toys are bringing in won't be available until the new year but when they were unveiled a few weeks ago, Olympic officials had said they hoped to hit a target of $46 million in royalty sales for licensed merchandise.
VANOC's vice president of revenue and marketing Dave Cobb says Quatchi, a young sasquatch, is the best seller, but Miga, a sea-bear is attracting a great deal of attention on the Olympic website.
Officials say 300,000 more stuffed replicas will hit store shelves in January.
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Perhaps they should look at reducing duties resellers must pay for products coming from the US to Canada in order to level the field? Then it would be prudent for the resellers to offer competitive pricing and good service to maintain a loyal customer base.
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