Ryan Lochte Dropped by Ralph Lauren, Speedo, Others After Rio Debacle
Speedo canceled its sponsorship after more than 10 years with the Olympian.
After making up a story about being robbed at gunpoint during the Rio Olympics, Ryan Lochte has lost many of his high-profile sponsorships.
The 12-time Olympic medalist has been ousted from his endorsement deals with athletic swimwear maker Speedo, designer Ralph Lauren, beauty product maker Syneron-Candela and Japanese mattress maker Airweave. The companies all withdrew their endorsements Monday, making separate statements.
"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.
Ralph Lauren's statement to CNBC specified that its "endorsement agreement with Ryan Lochte was specifically in support of the Rio 2016 Olympic Games and the company will not be renewing his contract."
Lochte released his own statement later Monday morning, responding to the news of Speedo's pulled endorsement.
"I respect Speedo's decision and am grateful for the opportunities that our partnership has afforded me over the years," he wrote. "I am proud of the accomplishments that we have achieved together."
Lochte has said he was intoxicated at the time he made the claims about the robbery and has apologized to Brazilian authorities.
"I was coming from the France house, I was highly intoxicated, and I made immature accusations," Lochte said in an interview with NBC's Matt Lauer. "If I had not done that, none of this would've happened."
The International Olympic Committee set up a committee to investigate Lochte's waffling story. Lochte said that he and fellow swimmers James Feigen, Jack Conger and Gunnar Betz were robbed at gunpoint during the morning of Aug. 14. Brazilian police said that the swimmers actually got in a fight with security guards at a gas station after vandalizing it.
The IOC hasn't handed down any official punishment yet for Lochte, but disciplinary action is expected.
Earlier in the day, a representative for mattress maker Airweave told The Hollywood Reporter by phone that the company was "evaluating the situation" at its headquarters in Japan.
In addition to several national teams, Speedo has sponsored numerous professional swimmers including James Guy, Natalie Coughlin and Missy Franklin.
The official response regarding our sponsorship of Ryan Lochte. pic.twitter.com/0DdP2RyceD— Speedo USA (@SpeedoUSA) August 22, 2016
MORE: Ralph Lauren says Lochte's deal was "specifically in support of the Rio 2016" Games & will not be renewed. pic.twitter.com/rljHT9K2el— CNBC Now (@CNBCnow) August 22, 2016