US Swimmer, Ryan Lochte has lost a number of endorsement deals since he lied about being robbed at gunpoint by men in police uniform in Rio de Janeiro, during the just concluded Olympic Games.
According to BBC, four brands have dropped the 12-time Olympic medalist, who has earned millions of dollars through endorsements.
The report lists fashion label, Ralph Lauren, swimwear manufacturer, Speedo, skin care company, Syneron-Candela and Japanese mattress maker Airweave, as the sponsors that have dropped Lochte.
This is after the swimmer claimed that he was robbed at gunpoint by policemen while in Rio, during the Olympics, a statement which investigations have proven to be a lie.
The Olympic medalist apologised for his conduct over the incident which turned out to show that Lochte and his swimming team mates behaved poorly were confronted by security men at a gas station after they vandalised the restroom and refused the pay.
Speedo, which is the largest sponsor of the four, said:
“We cannot condone behaviour that is counter to the values this brand has long stood for.”
“I am grateful for the opportunities that our partnership has afforded me over the years,” Lochte had replied, implying that he respected the swimwear manufacturer.
The athlete, who spoke on US talk show, Today, said he regretted his actions.
“I made a mistake and I definitely learned from this. They put on a great Games… and my immature, intoxicated behaviour tarnished that a little.”