North Korea's Olympic outfitter hopes for publicity gold
By Melanie Lee
SINGAPORE (Reuters) - Hoping to achieve what Michael Jordan did for Nike, a little-known Chinese sportswear brand is banking on the North Korean Olympic team for publicity.
Top global labels may not be tripping over each to sponsor an isolated country once termed by U.S. President George W. Bush as part of an 'axis of evil', but China Hongxing is hoping for some North Korean gold medals to impress its domestic audience.
"The relationship between North Korea and the Chinese is actually very strong," said Jenny Yeo, spokeswoman for Singapore-listed China Hongxing.
"They tend to watch the North Koreans compete in the events that the Chinese are also strong in, so sponsoring North Korea will get a lot more eyeballs," she said.
North Korean athletes in the Beijing Games will be sporting a stylized swan logo from China Hongxing's "Erke" brand, which means "you conquer" in Mandarin.
North Korea refused to compete as a joint team with the South in Beijing and is looking to capture medals from weightlifting, judo and wrestling.
China Hongxing will be kitting out the team with leotards, soccer boots and the red windbreakers the athletes will wear to the August 8 opening ceremony. Erke will be selling some of this sportswear in China and expects buyers seeking novelty value.
"The North Koreans take sports seriously and we see them really trying to be as prepared for the Olympics as possible. It is quite a major thing for them," Yeo said. Continued...
India Investment Summit 2009
Top executives and bankers discuss their own plans and the broader opportunities and challenges for India. Full Coverage
GLOBAL RECOVERY
Global economy in holding pattern - IMF
The global economy is in a holding pattern and vulnerable to more upheaval, the head of the IMF said, adding a lasting recovery will depend on policymakers taking the proper steps in the coming months. Full Article





India
US
UK









