• Russian sportswear company hopes Olympics increase brand awareness

Russian retailer Bosco, owner of Moscow's GUM department store, will supply clothing for the Russian, Ukrainian and Spanish teams at this summer's Olympic Games in London, according to Reuters. The sportwear company is also a sponsor of the 2014 Winter Games, which Russia will host in Sochi.

Company founder Mikhail Kusnirovich said Bosco, which now has 65 stores, will expand into Madrid and Barcelona, as well as Rio de Janeiro in Brazil, the 2016 Olympic host. He is also targeting Europe's affluent Alpine ski resorts.

Although Kusnirovich admits that the sportswear market has been dominated by U.S company Nike and German rivals Adidas and Puma, Bosco sees room for smaller niche players.

"We are not direct competitors, but we want to be successful ourselves," he said in the story, adding that his company is relying more on catching the eye with multicolored outfits rather than brand logos.

Bosco had sales of around 600 million euros last year, up 24 percent on the previous year, and is looking to maintain annual growth of 20 percent, Kusnirovich said.

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