Ralph Lauren Poised to Strike Gold ($$) at the Olympics

(MoneyWatch)  There's probably no better way to build global recognition for a brand than to outfit the athletes of Team USA for the opening ceremonies of the Olympics. The massive captive audience, which was estimated around four billion for the Beijing Games, can bring some serious coin for companies who've creating clothing and accessories inspired by competitive excellence.

For the 2010 Winter Games in Vancouver, that particular gold goes to one well-established American brand: Ralph Lauren (RL).

This is not Lauren's first foray onto the Olympics playing field. The master of sartorial Americana trotted out his styles for Team USA for the 2008 Summer Games. Then watched the cash roll in to the tune of a cool second quarter revenue increase of 10% to $1.43 billion, with global sales playing a big role. So when it came time to renew the deal, Lauren signed on through 2012.

But just because Lauren's dressing the athletes doesn't mean he's compromising his vision. In fact, you have to admire Lauren's tenacity to all things equestrian, even during Winter games that offer no related events. Note the three athletes to the left in the group photo above: each wearing separates more suitable for a polo field than an ice rink or snowy slopes. (The other two are sporting Nike (NKE) podium gear).

But no matter. Lauren's built an empire on the back of that pony (which continues to look like it's on steroids) by accomplishing an extraordinary feat of crossover marketing: getting that signature country club style on the backs of kids going clubbing. Kanye West's adoption of the rugby shirt with a popped collar inspired a generation of would-be rappers to take a second look at the designer's sportswear.

Though the company's net income for the first nine months of fiscal 2010 rose a mere 1%, beginning today Olympic fever should boost sales when apparel from the entire Polo Ralph Lauren U.S. Olympic and Paralympic Team Parade Outfit collection will be available for sale in Polo Ralph Lauren retail stores and on the company's Web site, USOlympicshop.com, U.S. Olympic Shops and at select department stores.

Can you say ka-ching?

Kanye West image from Star Pulse