The maker of Nutella chocolate spread said Monday it is phasing out endorsements from Kobe Bryant in part because of the sexual assault charge against the NBA superstar.

Ferrero, an Italian company with U.S. headquarters in Somerset, N.J., said its contract with the Laker guard expires in January.

"Marketing plans established earlier this year did not contemplate a contract renewal," the company said in a statement. "In keeping with this decision, and considering the recent developments, Kobe's image on Nutella labels and promotional material is being phased out."

Bryant has a multimillion-dollar sneaker deal with Nike and contracts with Sprite, McDonald's and Spalding.

Even before he was charged, marketing experts predicted the assault case could cost him more than $100 million in potential earnings.

Nike has said its deal with Bryant remains in place. Coca-Cola Co. spokesman Scott Williamson said Monday that Bryant has been under contract with Sprite since 1997 and remains under contract until 2005.