Olympic swimmer Ryan Lochte has lost all four of his major sponsors, including Speedo USA and Ralph Lauren, days after admitting he exaggerated his story about being robbed at gunpoint in Rio during the Olympics.

Key points: Lochte says he "over-exaggerated" his robbery story

Lochte says he "over-exaggerated" his robbery story Speedo USA says Lochte's behaviour goes against the values of the brand

Speedo USA says Lochte's behaviour goes against the values of the brand Hair removal, mattress maker companies also cut ties with Lochte after Olympics deals

The false robbery incident embarrassed the host city, angered the local police and Government and dominated news coverage of South America's first Olympics, leading the US Olympic Committee to issue an apology.

Lochte, a 12-time Olympic medallist, apologised on Saturday in an interview to Brazil's largest broadcaster, Globo TV.

"I wasn't lying to a certain extent," he said.

"I over-exaggerated what was happening to me."

Within hours of the Games coming to a close, Speedo USA issued a statement saying it would drop Lochte and donate $50,000 of his fee to Save The Children, a global charity partner of Speedo.

"Speedo USA today announces the decision to end its sponsorship of Ryan Lochte," the company said in a statement.

"While we have enjoyed a winning relationship with Ryan for over a decade and he has been an important member of the Speedo team, we cannot condone behaviour that is counter to the values this brand has long stood for," it said.

Ralph Lauren, which outfitted Team USA for the Olympic opening and closing ceremonies in Rio, had taken down references to the gold medallist from its website last week, and on Monday said it would not renew the Olympic-specific deal, which featured Lochte and other athletes wearing Ralph Lauren-branded Olympic merchandise.

US retail giant Macy's also said it was finishing its Rio Games marketing, which had included the swim star.

"We are transitioning out all Olympic visual as the games ended yesterday, and we are moving into our fall fashion message," Macy's spokeswoman Holly Thomas said in an e-mail.

And hair removal brand Syneron Candela ended its partnership with Lochte just four months after naming him its global brand ambassador for one of its products.

"We hold our employees to high standards, and we expect the same of our business partners," Syneron Candela said in a statement to ESPN.

"We wish Ryan well on his future endeavours and thank him for the time he spent supporting our brand."

Sorry, this video has expired Ryan Lochte says he had a gun held to his forehead

Japanese mattress maker Airweave, which last week had said it would stand by Lochte, on Monday said it had decided it would not renew the endorsement, which had been made for the Rio 2016 Olympic games.

'I was immature, I made a stupid mistake'

Sponsorship and endorsement deals typically include "morals clauses" that allow sponsors to terminate deals early if they feel the athlete has behaved poorly in public.

Lochte said in an email he respected Speedo's decision.

"I was immature and I made a stupid mistake. I'm human. I made a mistake and I definitely learned from this," Lochte said in an interview on the Today show.

"They [the people of Rio] put on a great Games ... and my immature, intoxicated behaviour tarnished that a little," Lochte said.

Sorry, this video has expired Surveillance video shows the US swimmers at the petrol station where the alleged incident took place

Lochte, 32, won one gold medal at the Rio Olympics.

He was the breakout star of the 2012 London Olympics, landing a short-lived reality TV series called What Would Ryan Lochte Do? and appearing, as himself, on top shows like 30 Rock and 90210.

Reuters/AFP