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Just one day after the long-awaited logo for the 2008 Olympics was unveiled in Beijing, Michele Sofisti, president of Swatch, started figuring out ways to capitalize on the business opportunity.

Wearing the Olympic logo on his shirt, Sofisti told China Business Weekly that Swatch had begun designing watches featuring the emblem.

"Of course, it will take time, since the logo has just been unveiled," he said.

"The logo is the biggest secret of the Olympics. We can't get information or even clues about it beforehand, though we are always eager to."

Sofisti said it was hard to say when the Olympic watch would become available, but predicted it would be before the end of this year, with Chinese customers having the chance to buy one early next year.

"Our products will first be designed and sold in the fledgling Chinese market, because it is here that the 29th Olympics will be held. But as the event draws closer and attracts more and more attention worldwide, we expect the watches will gain in popularity internationally since it is a global sports gala after all," he added.

The Italian said he believed Swatch designs would do the new logo justice.

"The emblem highlights ancient Chinese culture. Swatch is a company with not only energy and a modern spirit, but also history and culture. I think the combination of the two will be a success," Sofisti said.

Swatch may also invite local artists to help design the watch, he hinted.

Swatch is one of the nine International Olympic Committee global partners and will provide timing equipment for the Olympics before 2010.

The company will be involved in both the 2004 Athens and the 2008 Beijing Olympics.

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