Tokyo Olympics closing 5 souvenir shops: Reports

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On Tuesday, Five official Olympic merchandise shops in Tokyo will close till early June with their business being hindered by the coronavirus pandemic and the games being postponed until next year, organizers. It’s not clear yet they will remain open.

Tokyo spokesman Masa Takaya said in an online news conference that the sixth store in Osaka would also be downsized by early June. Till the end of April, Tokyo organizers said 89 stores were operating around Japan.

“We don’t know what’s going to happen in the next three weeks, So in that respect I cannot precisely confirm how many shops will remain after the closure of these shops”, Takaya said in a statement.

Organizers have budgeted for an income of about $100 million from merchandise sales. This is a small part of the privately financed operating budget of $5.6 billion. The largest amount of income is from local sponsors that are paying $3.3 billion to be part of the games.

To organize the Olympics, Japan is spending $12.6 billion although a national audit says the number is twice that much. On July 23, 2021, the Tokyo Olympics will open after a delay of one year because of the pandemic situation. The Paralympics are scheduled to open on Aug. 24, 2021.

Organizers say about 5,500 products are being sold at the “licensed” shops, which carry caps, t-shirts, and even “official” chopsticks — all carrying the Tokyo and Olympic logo.

Takaya was asked what percentage of products were made in Japan. Many of the products are made up from China and Vietnam. And many of the products carrying Made in Japan label.

“Tokyo 2020 does not have an aggregated number in terms of how many products are being made in Japan or outside of Japan, In that respect, we will not be able to provide such (a) number” Takaya said in statement. The Tokyo organizing committee had contracts with suppliers, which are largely free to source products where they wish he told later.

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