Getty ImagesRyan Lochte has lost all of his major endorsement deals as swimwear company Speedo USA, clothing line Ralph Lauren Corp. RL, -0.82% , mattress maker Airweave USA and a hair-removal brand have dropped their sponsorship of the Olympic swimmer in the wake of the Rio de Janeiro scandal.
Speedo was the first company to sever ties on Monday, following Lochte’s bizarre controversy that shifted attention away from sports during the last week of the Olympics.
“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 Monday.
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The company said it would donate a $50,000 portion of Lochte’s fee to a charity for Brazilian children. Terms of the swimmer’s endorsement deal weren’t disclosed.
Another sponsor, Gentle Hair Removal, also ended its partnership with Lochte. “We hold our employees to high standards, and we expect the same of our business partners,” Syneron-Candela, the brand’s parent company, said in a statement. The swimmer had previous sponsorship deals with companies such as Nissan and Gatorade, but those agreements have expired.
