Xu Zhihua, chief executive of Peak Sport, and Agberto Guimarães, Executive Director of Sports at the COB, penned the deal in Xiamen in China.

According to the agreement, the two organisations will combine to "establish a global partnership" that will last for the next two Olympic cycles.

"I was impressed by the professional and fashion equipment designed by Peak Sport for 12 delegations at the Rio 2016 Olympic Games, all of which are proof of the strong scientific research and development of the brand," Guimarães said.

"It is one of the main reasons why we chose Peak Sport, in addition to realising its great ambition in terms of its road map for international expansion."

During the signing ceremony, Peak Sport displayed some of the professional equipment designed specifically for the Pyeongchang 2018 Winter and Tokyo 2020 Summer Olympic Games.

The equipment, for which the green, yellow and blue of the Brazilian flag have been chosen as colours, as well as the latest state-of-the-art technologies and high-tech materials applied to design and production, is said to "represent the expression of the culture of the country through its highly valued samba music and admiration for its competitive spirit in sports".

It is hoped this will "allow Brazilian athletes to contribute their distinctive style of competition in the international arena".

"The sports sector in Brazil has already made a great contribution to the world and continues to have great potential because many influential superstars come from Brazil," added Xu Jingnan, the President of Peak Sport.

"As an official partner of the COB, we have planned to bring together the best designers from our four research and development centres to design and create a first-class professional equipment package for the Brazilian sports delegation."