Across China: Rio Games heat up China's Olympic economy
Xinhua, May 17, 2016 Adjust font size:
Xiong Xiaofeng started collecting Olympic badges when Beijing held its first games in 2008.
Xiong's hobby has become his profession, as he is now the owner of China's first licensed store for Rio 2016 Olympic merchandise.
His 20-square-meter shop is located in an underground commercial area in Renmin Square, one of the busiest hubs in downtown Shanghai. In December last year, the shop began selling souvenirs for the Rio Olympics to be held in August. Business is booming as the event approaches.
The shop sells not only Olympic badges, but hundreds of products, including stuffed toys of Vinicius and Tom, the mascots of the Rio 2016 Olympic and Paralympic Games. Other products include souvenir coins, decorations, boxes and straws branded with the Rio Olympics logo.
On a rainy Sunday afternoon, three groups of customers visited the shop within an hour. The customers included badge collectors, athletics staff, and children, who were attracted by the cartoons.
Shop assistant Xiang Mengqi showed a customer a new badge that had just arrived. Next to them, a TV screen played the official Rio Olympics animated film.
The new arrival has attracted an old customer, Li Qiang. He said he has collected all badges for the sporting events and mascots of the Rio Games, and now he is paying close attention to the new copper-plated badge bearing the emblems of the Olympic and Paralympic Games.
Like Xiong, Li said he began collecting Olympic badges in 2008.
"It is not only a new way to collect and invest, but also a way to learn about the rich culture of the Olympics," said Xiong.
His shop is an exchange center for fans and collectors. Every day, customers and friends come to chat about sports and collections, Xiong said, and the shop is like a museum of Olympic badges.
"The badges are rich in culture and have a long history, but the coins have better investment value," Xiong said. The most popular product so far is the Rio 2016 commemorative coin.
"Some people collect for economic value, others simply for love of culture," Xiong said.
As he talked, another group of customers walked into the shop looking for Olympics key chains. A woman surnamed Lu said she was curious about the lighting of the main torch in Brazil.
"When Beijing successfully bid on the Winter Olympic Games, I was excited. I believe China's fever for collecting Olympic memorabilia will peak in 2022 after all these years of build up," Xiong said.
Sales of licensed Beijing Olympic products exceeded 1 billion yuan, Xiong said, and he believes the figure will rise in 2022.
"The Rio Games could be a warm-up," he said. Endi