Sydney 2000 brought innovations in retailing and product design to Olympic licensing. The Olympic Stores were established and managed in partnership with Nuance, a duty-free retailer, in Sydney Olympic Park, throughout the city of Sydney, and in major airports throughout Australia. For the first time, athletes such as Olympic gold medallist Nova Peris-Kneebone designed merchandise such as special Olympic coins and Swatch timepieces.
While the revenue from licensing could possibly become a third pillar of funding for the Olympic Movement, the promotional and educational benefits of using licensing to communicate the ideals of the Movement are far more significant. The IOC is now developing programmes that will set the global standard for the potential of sports licensing.
