Nike confirms that it has obtained a deal to take over as the official apparel supplier of the International Olympic Committee (IOC) until the end of 2016, covering the 2014 Winter Olympics and Paralympics in Sochi, as well as the 2016 Summer Games in Rio de Janeiro. The agreement was widely reported last month, but neither Nike nor the IOC confirmed it until a few days ago. The deal calls for the supply of sports garments for the officials of the IOC, which yields little exposure but reinforces the ties between Nike and the IOC. The garments were previously supplied by Mizuno but this agreement was not compatible with the Japanese company's support for Tokyo's bid to host the Olympics in 2020. Nike supplied competition apparel to more than 100 federations at the London Olympics, along with footwear for thousands of individual athletes. Notably, the company is the official sponsor of the National Olympic Committees of the U.S., Brazil, Kenya and Estonia.

Topics