(Yicai Global) Sept. 14 -- Chinese marketing services provider Yuanlong Yato Culture Dissemination has acquired the rights to make and sell licensed products for the 2022 Winter Olympic and Paralympic Games.

The Beijing-based firm received approved franchise production and retail agreements from the organizing committee yesterday, it said in a statement the same day. The announcement did not disclose financial details.

The deal gives Yuanlong the non-exclusive rights to make goods itself or through third-party producers approved by the committee and sell them to distributors until June 30, 2022, about three months after the end of the Winter Paralympics. The Winter Games will begin in February in Beijing and Zhangjiakou, with the Paralympics starting the following month.

Yuanlong, which plans to start designing and selling products immediately, is no stranger to major events licensing. It obtained production and retail licenses for the 2008 Beijing Olympics, the Expo 2010 Shanghai, the 2011 World University Games in Shenzhen and the 2014 Nanjing Youth Olympics.

The latest agreement will also allow it to buy licensed products from other approved manufacturers at wholesale prices, and then sell them on either by itself or through retail stores set up by distributors.

Editor: James Boynton