NEW YORK, April 7 (Reuters) - Polo Ralph Lauren (RL.N: Quote, Profile, Research) is set to announce that it will be the U.S. team's official outfitter for the 2008 Summer Olympics in Beijing, the Wall Street Journal reported on its Web site.
Polo signed a contract with the U.S. Olympic Committee last week and replaces Canadian clothing company Roots Ltd, according to the Journal report.
Roots, which provided outfits for the U.S. team for the past three Olympic Games, was originally supposed to continue through 2008. But it lost out on the contract after the USOC thought its designs for this year were too informal, the Journal reported.
The deal is expected to bring in millions in sales of Olympic-branded products that will be available at U.S. Polo stores and on its Web site from mid-July, the Journal said, adding that the company is in talks with many U.S. department stores to carry the clothes.
Both Polo and the USOC hope to continue the deal to the 2010 Winter Olympics in Vancouver, the 2012 Summer Olympics in London and beyond, according to the report.
Polo representatives were not immediately available for comment.
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