Speedo, Syneron Candela, Ralph Lauren and Airweave issued statements on Monday to terminate their deals whit the US swimmer.
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In a statement to E!
Syneron Candela named Lochte as global brand ambassador for a product in April.
A Brazilian judge ordered the swimmers to remain in Rio de Janeiro, but Lochte had already left the country.
Ralph Lauren later announced it had also cut ties with Lochte.
Police said the group had been detained over the vandalization of a gas station bathroom, apparently led by a drunken Lochte – a major embarrassment for Team USA, an Olympic swimming powerhouse.
Lochte, 32, subsequently conceded that he had “over-exaggerated” his story and apologised for his “immature behaviour”, with United States Olympic Committee CEO warning that the quartet faced “further action”. Meanwhile, Syneron-Candela, also ended its partnership with Lochte, explaining that since it holds its employees to high standards, it expects a similar standard from its business partners.
Lochte claimed he and three of his U.S. team-mates had been robbed at gunpoint at a gas station on a night out in Rio earlier this month.
Speedo USA said it was ending its 10-year sponsorship of Lochte and would be making a $50,000 donation to Save The Children for the charity to distribute in Brazil. “I am proud of the accomplishments that we have achieved together”.
Hair removal company Syneron Candela and Japanese mattress maker Airweave have also made a decision to distance themselves from the swimmer.
Lochte and the other swimmers could be stripped of their gold medals. Ralph Lauren had already removed any presence of Lochte from its website.
The financial costs of losing Speedo and Ralph Lauren are likely to be only the first sanctions that await Lochte, whose antics tarnished a powerful showing by the American team and dominating news away from the stadiums and arenas in the final days of the Rio Games. By day’s end Lochte lost other sponsors including Ralph Lauren and a laser hair removal company. Lochte apologized and said he ” overexaggerated” his initial claims.
However, after an investigation, Rio police concluded that the athletes were drunk, vandalized a gas station and were detained by armed security until they paid for the damage they caused.
This is the third brand to end its relationship with the six-time Olympic gold medalist.
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At these games, Lochte had a greatly reduced role after qualifying for just one individual event.
