- US Olympic swimmer Ryan Lochte lost his major sponsors after he admitted that he exaggerated his Rio robbery story
- Speedo, Ralph Lauren, Syneron Candela and Airweave ended their relationship with Lochte
- Lochte said that while still drunk, he “left details out” and “over-exaggerated some parts of the story”
Although he admitted and apologized for exaggerating his story about being robbed at gunpoint after a night out during the Rio Olympics, U.S. Olympic swimmer Ryan Lochte still lost his major sponsors, such as Speedo and Ralph Lauren.
According to an article published by CNN, Speedo said in a statement that although they have enjoyed a winning relationship with the 32-year-old swimmer for over a decade and he has been an important member of the Speedo team, they cannot condone behavior that is counter to the values that the sports brand has long stood for.
“We appreciate his many achievements and hope he moves forward and learns from this experience,” part of the statement read.
As for fashion label Ralph Lauren, it reportedly signed Lochte to an endorsement deal specifically for the 2016 Rio Games and the company will not be renewing the contract. It had also taken down a photo of Lochte wearing an Olympic medal on its Twitter home page.
The other two labels who ended their relationships with Lochte are hair removal company Syneron Candela and Japanese mattress maker Airweave.
Lochte said that if only he didn’t overexaggerate his story, he and three of his fellow swimmers wouldn’t be involved in such a mess.
BBC News quoted him as saying in an interview on US talk show “Today”: “I made a mistake and I definitely learned from this. They put on a great Games… and my immature, intoxicated behavior tarnished that a little.”
At first, Lochte claimed that he and his three teammates were robbed by bogus policemen, but later on, he admitted that while still drunk, he “left details out” and “over-exaggerated some parts of the story”.