It's been a dream for US-based Dow Chemical to partner with the Olympics for many years, and now that dream has finally become reality.
Dow Chemical's deal with the International Olympic Committee (IOC) to become a Worldwide Olympic Partner and the official chemistry company for the Olympic Games through 2020 is a colossal event - one that has the potential to change the public's perception of the chemical industry.
Forget the $1bn-plus in market opportunity Dow sees from the partnership in the form of selling materials into Olympic venues. The real opportunity is for Dow, and in turn the industry, to associate itself with one of the most recognizable symbols in the world.
The Olympic rings represent peace, unity, competition and a celebration of our common humanity. The association with the Olympic rings was the key selling point when Dow chairman and CEO Andrew Liveris and executive vice president of sales and marketing Heinz Haller pitched the sponsorship to the company's board of directors.
"We will use this opportunity to educate the public on how chemistry plays a role in the games, as well as improving society by being an enabler of modern life," said Liveris at a joint press event with the IOC at the Four Seasons Hotel in New York on July 16.
Photo credit: Dow Chemical