The owners of the new Stratford City mall have secured the rights to be the official shopping center of the London 2012 Games.
According to the Evening Standard:
Europe’s largest urban shopping mall will get an Olympic makeover using theLondon 2012 brand and logo.
Its Australian owners hope the exclusive marketing rights will give the development a boost when it opens next Tuesday.
In return, Games organiser Locog has secured floorspace in the 1.9million sq ft centre which forms a gateway to the Olympic Park. An official merchandise store will open next month and will be crucial to London 2012 reaching its target of raising £80 million through sales of licensed products.
Locog, which will employ 200,000 people at next summer’s peak, will also use the mall as an operational and logistics hub by taking over the 3,000-space car park and setting up temporary offices. The mall will also host the official hospitality zone for Team GB.
Westfield has handed over cash for part of the deal but the largest part is believed to be “value-in-kind” use of the shopping centre.
Games chiefs commonly sign licensing deals with retail chains but it is thought to be the first time a shopping centre has bought official Olympic status.