The two cartoon characters, formed from the last drops of of steel left over from the construction of the final support girder for the Olympic Stadium, have received a mixed reaction after being officially launched on The One Show on BBC One last night.

But Paul Deighton, the chief executive of London 2012, is optimistic that they will prove popular with the public who want to buy souvenirs of the Olympics and Paralympics.

He told insidethegames: "We anticipate raising royalties of between £70 to £80 million ($100 to $115 million)  and, of course, the amount that the mascots contribute is a function of how many we sell and how creative we are in deriving different products that people are interested in.

"It wouldn't surprise me if we can get between 10 and 20 per cent [of the total royalties] from them."

A limited range of products featuring the mascots, including pin badges and tee-shirts, are currently available from the London 2012 on-line shop but more products are expected to quickly be manufactured, including soft toys, which are expected to go on sale to coincide with the two-years to go countdown on July 27.

Deighton said that London 2012 plan to produce hundreds of products on which Wenlock and Mandeville will appear.

He said: "We will keep producing them, depending on how well they are doing."

The London 2012 website launched initially with approximately 250 lines of product including clothing, collectables and pin badges.

But, by later this this year, there will be 500 lines of product and it will eventually grow to sell thousands of London 2012, TeamGB and ParalympicsGB products in the build-up to the Olympics and Paralympics.

Retail of official Games related merchandise plays a vital role in funding of the Games, contributing to London 2012's £2 billion ($2.8 billion) budget.

London 2012 has so far signed more than 30 licensees to produce London 2012, TeamGB and ParalympicsGB products.

These include the likes of the Royal Mail, Royal Mint, Hornby, Letts Filofax and Links of London. 



The online shop marks the first stage of retail plans which will eventually see products sold at dedicated London 2012 shops and via other retail outlets, including John Lewis and Sainsbury's.

Deighton has estimated that people's enthusiasm for the Olympics and Paralympics will see more than £1 billion ($1.4 billion) worth of sales, which will help push up the royalties that London 2012 receive.

He said: "I really do think that is a realistic figure."

The total value of licenced Olympic merchandise sales worldwide for this year's Vancouver Winter Olympics is expected to have topped the $500 million (£347 million) mark, resulting in about $54 million (£37 million) in revenues for the local organisers. 

Sales figures for the Winter Games are traditionally lower than the Summer version.

Sebastian Coe, the London 2012 chairman, said: "People love to collect Olympic or Paralympic souvenirs, it’s a key part of the Games-time experience.

"Over the next two years or so more and more product will be available both on our online shop and at other outlets, helping people to celebrate the Olympic Games and Paralympic Games coming to the UK."

The mascots are expected to be the most popular sellers.

Deighton said: "The mascot is an important driver and we will be focussing people's attention on it so that they want to own several of them.

"We are confident people are going to love them and that it will appeal to everyone, but particularly children."

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