Luhta News

Luhta Sportswear Company to outfit Finland’s Olympic team athletes

The Finnish sporting world will experience a significant change at the turn of the year when the Finnish Olympic Committee and Valo merge their functions. Going forward, the new Olympic Committee will be responsible for the core content of the Finnish sporting culture, from elite-level athletes to the public at large. The figurehead of the new Olympic Committee will be the Olympic team, and it will gain a strong, strategic partner with Luhta Sportswear Company.

The sizable collaboration will launch on 1.1.2017 and will cover the next three Olympic Games. The Olympic team will represent Finland – wearing apparel designed and manufactured by Luhta Sportswear Company  – in Pyeongchang in 2018, in Tokyo in 2020, and in Beijing in 2022. In addition to outfitting the teams, the agreement includes extensive marketing collaboration and other joint activities through which Luhta Sportswear Company is contributing to the success of Finland’s top athletes in the next Olympic Games.

“We pursued a strategic, strong domestic partner to support the building of the new Olympic Committee identity and Olympic team brand. Luhta Sportswear Company has proved to be a forerunner and a growing, success-driven player in its business. This shared desire to succeed creates a foundation for long-term and successful collaboration. I am convinced that we will be able to support each other in the quest for excellence,” notes Samuli Vasala, CEO at Finnish Olympic Committee & Valo, Business Unit.

Asia plays a significant role in international elite-level sports

For Luhta Sportswear Company, the partnership with the new Olympic Committee will mean broad and diverse commercial added value both in Finland and abroad. Luhta Sportswear Company is experiencing robust business growth in Asia, particularly in China. The next three Olympic Games – in South Korea, Japan and China – and the global visibility they bring will create a tremendous opportunity for growth in new markets.

“The pace of growth and development of the Asian markets is accelerating, and consumer demand will spread to increasingly wider price segments. A mid-price segment for value-priced brand products is emerging in between the luxury and the low-cost products, and we will position our main brands Icepeak and Luhta in that mid-price segment. In fact, our investments in Asian markets through the partnership agreement with the Finnish Olympic Committee, among others, will grow significantly over the next five years, particularly in China, Japan and South Korea. The success of Finnish athletes and their rise to being role models for young people, is an important factor in increasing physical fitness and healthy lifestyles in Finland, but the Olympic movement and the related renewed, strong values support our future thinking also in a broader way. I truly expect a lot from this Olympiad that will culminate at the Winter Olympics in Beijing, China, in 2022,” notes Vesa Luhtanen, Managing Director, Luhta Sportswear Company.