Ryan Lochte loses deals after false robbery news in Rio

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Four major sponsors of Ryan Lochte walked away from the disgraced U.S. swimmer on Monday.

Speedo, Polo Ralph Lauren, and Gentle Hair Removal and mattress maker Airweave all said they would be cutting ties with Lochte after the swimmer admitted to lying about being robbed at gunpoint while in Rio.

“While we have enjoyed a winning relationship with Ryan for over a decade and he has been an important member of the Speedo team, we cannot condone behavior that is counter to the values this brand has long stood for,” Speedo said in its statement. “We appreciate his many achievements and hope he moves forward and learns from this experience.”

Ralph Lauren said it had signed Lochte to an endorsement deal specifically for the 2016 Games and the company will not be renewing the contract. The company, which early Monday still had a photo of Lochte wearing an Olympic medal on its Twitter home page, has since taken that image down.

Likewise, Airweave — which provided mattresses for Team USA in Rio — said its agreement with Lochte was “in support of the Rio 2016 Olympic Games” and the company has decided to end the partnership.

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But Lochte’s photos were still all over the website of Gentle Hair Removal, which made Lochte a figurehead of their advertising campaigns since signing the athlete in April. Lochte appeared in a promotional video for Gentle Hair Removal, in which he said the service “was the best thing that’s ever happened. I don’t have to worry about shaving anymore.”

But Gentle Hair Removal’s parent company, Syneron-Candela (ELOS), announced Monday that it’s parting ways with Lochte.

“We hold our employees to high standards, and we expect the same of our business partners. We wish Ryan well on his future endeavors and thank him for the time he spent supporting our brand,” the company said in a statement.

Lochte’s problems began when he and three teammates said they had been robbed at gunpoint after attending a party at the Olympics, but it was soon discovered the four athletes allegedly vandalized a gas station and urinated on the building. Authorities in Brazil denied any robbery took place.


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