The production of Beijing 2022 Winter Olympic Games mascots Bing Dwen Dwen and Shuey Rhon Rhon merchandise will stop on Friday as the production contract for licensed Beijing 2022 items is set to expire.
According to the contract between Beijing 2022 Winter Olympic Games organizing committee and producers for the licensed merchandise, the issuance of authorization tag for Beijing 2022 items will end on July 1, meaning all souvenirs for the winter sports event produced after June 30 is not authorized.
During the Beijing 2022 Winter Olympic Games, Bing Dwen Dwen, one of the mascots, went viral on Chinese social media. People formed more than 300-meter-long queue in front of the licensed stores on the Wangfujing Pedestrians Street in Beijing to buy a Bing Dwen Dwen doll.
Due to the sudden surge in market demand and a supply shortage, some scalpers pushed the resale price up by as much as 10 fold over its original price of 198 yuan ($29.58). Beijing authorities swiftly moved to crack down on price gouging.
The organizing committee of Beijing 2022 Winter Olympics created over 5,000 items of licensed merchandise including badges, key rings, clothes and precious metal products that could be bought in over 190 licensed stores in the country, according to a report from Chinese media outlet Yicai.com.
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