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cancer charity drops Lance Armstrong name from title
Nike said on Tuesday it would end production of its Livestrong gear and apparel after the 2013 holiday line, concluding a long-standing licensing agreement for footwear and apparel between the two that helped Livestrong raise a total of $100 million over the course of the partnership.
"We expected changes like this," Katherine McLane, a Livestrong spokeswoman, said in a conference call with reporters. "Could there be fallout? Of course," she said. "We remain enormously confident...We are in strong fiscal shape."
When Armstrong left Livestrong's board, Nike said it would still back the charity, but no longer sponsor the man behind it.
However, Nike spokeswoman Mary Remuzzi told Reuters late on Tuesday that the decision to drop the partnership was taken as sales of the products had not met company's expectations.
Nike also distributed Livestrong's ubiquitous yellow wrist-bands, of which 87 million were sold.
Armstrong founded Livestrong in 1997
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