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Hudson's Bay Company and Vancouver 2010 announce eight-year partnership
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Toronto - Surrounded by Olympic athletes and Hbc associates at an event in Toronto, officials from the Vancouver Organizing Committee for the 2010 Olympic and Paralympic Winter Games (VANOC), the Canadian Olympic Committee (COC) and Hudson's Bay Company (Hbc) today announced details of an eight-year partnership in support of sport in Canada.
Highlights of the partnership include:
· Hbc as the Official Clothing and Luggage Supplier to the Canadian Olympic Teams for the 2008, 2010 and 2012 Olympic Games. (Hbc was also selected today as the clothing and luggage supplier to the Canadian Olympic Team for the 2006 Olympic Winter Games);
· Hbc as the exclusive and Official Department Store and merchandise retail partner in Canada until 2012;
· Hbc as the Official Clothing Supplier to the 2010 Olympic and Paralympic Winter Games Volunteers; and
· Numerous merchandise and service solutions that Hbc will provide in its role as a national partner to VANOC in the hosting of the 2010 Olympic and Paralympic Winter Games.
The agreement means that Hbc will become VANOC's third Premier National Partner. The partnership, which runs from 2005 until 2012. In addition to outfitting the 2006, 2008, 2010 and 2012 Canadian Olympic teams, Hbc will outfit volunteers for the 2010 Olympic and Paralympic Winter Games. The company will also develop exclusive Olympic merchandise that will be available in official Olympic shops that will be built in virtually all Hbc stores across Canada - the Bay, Zellers, Home Outfitters, Designer Depot and Fields.
The agreement between VANOC and Hbc is valued at more than C$100 million. Hbc is also committed to support Canada's winter and summer athletes through fundraising efforts beyond this guaranteed commitment.
"Today, Hbc is continuing our 335 year long tradition of supporting Canadian priorities and interests," said George Heller, President and CEO, Hbc. "We are extremely proud to provide our Canadian athletes of the Torino, Beijing, Vancouver and 2012 Olympic Games with outstanding team clothing and more. We are delighted to play our part in making the Vancouver 2010 Games a truly pan-Canadian celebration through our stores located in virtually every Canadian community. Our 70,000 associates and millions of customers look forward to showcasing Vancouver, Canada and our best ambassadors - Canadian athletes."
"The Vancouver 2010 Games are Canada's Games and we're proud to be working with a retailer that has helped shape the history of Canada," said John Furlong, VANOC CEO. "Our partnership with Hbc will help us ignite the spirit of the Games by reaching out to all Canadians from coast to coast to coast."
"We welcome this strong support from Hbc for Canadian athletes" said Chris Rudge, CEO of the Canadian Olympic Committee. "This partnership will help our athletes compete with the best in the world in both winter and summer sports. This is great news for sport and the Olympic movement in our country."
Today's announcement represents a significant opportunity for Hbc and the execution of the Company's strategy to provide Canadians with exclusive and differentiated products. As of November 2005 more than 500 Hbc stores will become the nations official headquarters for exclusive Olympic and Paralympic Games - related products, bringing the Games experience to every Canadian family.
In speaking to the 70,000 Hbc associates across Canada George Heller stated: "This long-term partnership is based on Hbc and the Canadian Olympic movement's shared vision of a proud, strong Canada, highlighting the beauty of our country, the warmth of its people and its strength, on and off the field of play. I assure Canadians that the Hbc team is dedicated and committed to working hard for the next eight years to make the people of this country proud when they see our nation's official uniform on centre podium, beneath a gold medal."
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