UPDATE (8/22/16): Ralph Lauren and skin-care company Syneron-Candela have also dropped Ryan Lochte.
"Ralph Lauren continues to proudly sponsor the U.S. Olympic and Paralympic Team and the values that its athletes embody," according to a statement from the clothing company. "Ralph Lauren's endorsement agreement with Ryan Lochte was specifically in support of the Rio 2016 Olympic Games and the company will not be renewing his contract."
Ralph Lauren and Syneron-Candela’s announcements come directly on the heels of Speedo dropping its sponsorship of Lochte, who has issued the following statement in response: "I respect Speedo's decision and am grateful for the opportunities that our partnership has afforded me over the years […] I am proud of the accomplishments that we have achieved together."
Twelve-time Olympic swimming champion Ryan Lochte’s fall from grace just picked up major acceleration: Speedo has announced it’s dropping Lochte’s sponsorship and donating his $50,000 fee to the global charity Save the Children in Brazil.
Speedo’s decision comes after Lochte admitted to fabricating his story to Rio de Janerio police of how he and his teammates were robbed at gunpoint during the Olympics.
According to a statement from Speedo:
"While we have enjoyed a winning relationship with Ryan for over a decade and he has been an important member of the Speedo team, we cannot condone behavior that is counter to the values this brand has long stood for. We appreciate his many achievements and hope he moves forward and learns from this experience."
Lochte’s mea culpa circuit has proved insufficient to clearing his reputation with Speedo, and it could be a matter of time before other brands he’s affiliated with, including Airweave and Polo Ralph Lauren, terminate their sponsorship as well.