Tags: olympics | mittens | souvenir | seller

Olympic Mittens Big Souvenir Seller

Tuesday, 16 Feb 2010 10:20 AM

The gotta-have souvenir at the Vancouver Games is a sign of just how far the global recession set back the world economy: a $10 pair of red mittens.

Amid the flurry of $135 Olympic jerseys and $225 Olympic sterling silver pendants, no merchandise is catching on like these Canadian red mittens, which have the country's maple leaf symbol in each palm.

"In the current economy, a mass-oriented price point helps a lot," says Marty Brochstein, senior vice president at the International Licensing Industry Merchandisers' Association.

The recent surge of the $10-and-under retail price isn't limited to the Olympics. It's why the Zhu Zhu Pets mechanical hamsters became a phenomenon at Christmas. And it's why major pizza chains are promoting pizzas — any size, any toppings — at $10.

"The $10 mittens are the 'it' souvenir of the Olympics," says Mark Kinnin, vice president of maker Hudson's Bay.

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