Speedo International Limited is an Australian-British distributor of swimwear and swim-related accessories based in Nottingham, England.
Founded in Sydney, Australia in 1914 by Alexander MacRae, a Scottish emigrant, the company is now a subsidiary of the British Pentland Group. Today, the Speedo brand can be found on products ranging from swimsuits and goggles to wristwatches.[2] The Speedo brand was previously manufactured for and marketed in North America as Speedo USA by PVH, under an exclusive perpetual licence,[3] which had acquired prior licensee Warnaco Group in 2013. In January 2020, the Pentland Group purchased back the rights from PVH for $170 million in cash, subject to regulatory approval.[4]
In accordance with its Australian roots, Speedo uses a boomerang as its symbol.[5] Due to its success in the swimwear industry, the word Speedo has become a known generic trademark for racing bathing suits.
History
Speedo Knitting Mills
Company founder Alexander MacRae emigrated from Loch Kishorn in the western Highlands of Scotland to Sydney, Australia in 1910. Originally working as a milkman, he founded MacRae and Company Hosiery four years later, manufacturing underwear under the brand name Fortitude (taken from his family crest).[6] The Australian Army's need for socks during World War I provided MacRae with enough business to expand and in 1927 his first line of swimwear, called a "racer-back costume" was introduced. The following year, a naming contest held among the MacRae staff yielded the slogan "Speed on in your Speedos." The brand name was born. The contest winner, Captain Parsonson, was awarded £5 for his slogan and the company was renamed Speedo Knitting Mills.[6]
The controversial yet revolutionary racerback style's open shoulder and exposed back allowed greater range of motion in water and was quickly adopted by competitive swimmers
Products
Although the brand name Speedo is often genericised to refer to any style of men's swim briefs, these account for less than 2% of the company's sales.[20] The Speedo name can be found on a wide range of swimsuit styles for men, women, and children focusing on performance and style. Speedo also offers a range of sportswear, footwear, and accessories ranging from swim goggles to electronics. Additionally, Speedo International offers a line of men's underwear and Speedo Australia features a line of underwear called Speedo Underbody for men and women, sold only in select David Jones retail stores.[21]
Accessories
Speedo offers a broad range of swim accessories including more than seventy models of goggles,[22] several models of watches, sunglasses, and towels. In addition, Speedo offers several lines of aquatic fitness aids and swim aids for children and adults as well as scuba masks,
Swimwear
Speedo USA's men's collections are categorised as: Competition, Racing, Boardshorts and Swim Trunks, Fashion, and Lifeguard.[25] Speedo International's men's offerings also include wetsuits.[26] Both Speedo USA and Speedo International also offer a wide range of children's styles including performance, racing, fashion and beginner lines.[25][26]
Controversial technology
Swim records were broken in Speedo brand silk suits in the 1930s, and the company was the first to introduce the use of nylon in the 1950s[10] and later nylon/elastane in the 1970s.
Online resources
YouTube channel
Speedo started its YouTube channel dedicated to Speedo and its products specifically in the context of "life in and around the water" on 2 March 2007.[55] One of the initial videos was aimed at journalists and providing them with a literal and virtual feel for what the athletes wearing the LZR Racer at the 2008 Summer Olympics felt by letting members of the media try the suits on in person in Beijing and sharing that experience virtually via YouTube.[56] For swimmers, videos posted cover a wide range of topics including swimming technique overviews and breaking down the process of designing and making swimwear.[57][58] Speedo's channel also features high profile athletes at different points of their journey as a professional swimmer such as at the end of a World Championships.[59]
Sponsorships
Olympic Committees
National teams
Speedo is the sponsor of several national swim teams.
Speedo also offers sponsorships to some High School and College (NCAA, NAIA, Junior college) Leagues as well as non-profit recreation leagues such as YMCA and Boys and Girls Clubs.[74]
Sponsored athletes
In addition to team and league sponsorships, these are the several celebrity athletes that are currently being sponsored by Speedo.[75]
See also
- High-technology swimwear fabric
- List of generic and genericised trademarks
- List of swimwear brands
- Tyr Sport, Inc. – Speedo's chief American competitor in the performance swimwear market.
- Warnaco Group – Speedo's exclusive North American licensee
External links
References
- Speedo International Limited: Private Company Information BusinessWeek, Bloomberg L.P., retrieved 15 January 2011^
- Speedo Speedo.com, Warnaco Group^
- Warnaco. 2009 Annual Report on Form 10-K Warnaco 2009 Annual Report, 2010