Speedo- Swimwear market leader

“Speedo- Leading the Swimwear Market”

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“Speedo- Leading the Swimwear Market”

Introduction

Speedo is one of the market-leading brands in swimwear around the world. Its products are being sold in 175 countries around the world. The company is famous for its, Olympic achievements, technical innovation, and relationship with famous athletes like, Michael Phelps, who is considered as the greatest athlete in the history. The company expanded its leisure trade and collaborated with Melissa Odabash and Comme des Garcons, which are considered as the fashion brands in the market. Speedo International limited, offer its customers a wide range of products for the beach, which consists of the world's first underwater floating cameras, huge range of sunglasses, underwater MP3 player. The company is considered the largest swimwear brand in manufacturing products for competitive swimming and daily use (Hutchinson 2008, 124).

History

The company was created by Alexander MacRae, 22 years old Scottish boy. In 1910 he migrated to Australia and started business of underwear manufacturing, which he named "MacRae Hosiery Manufacturers". Taking into consideration the growth trend of beach culture in Australia, Alexander rapidly expanded his manufacturing operations and started manufacturing swimwear and modifies the name of the company to MacRae Knitting mills.

Speedo is so intimately linked with U.S. competitive swimming that it comes as a surprise to most to learn that the company was actually founded in Australia.The Speedo logo, in fact, which is often confused with either being a wave, arrow or starting block, is actually the most Australian of icons “a boomerang”.

When tiny, family-owned MacRae Knitting Mills of Sydney began producing swimming apparel, creating swimwear for future international Olympic champions was probably the furthest thing from the MacRaes' minds. At the time, it was Jantzen, endorsed by such high-profile swimmers as Weissmuller, Esther Williams and Duke Kahanamoku, that was the competitive swim wear label of choice (Hochman 2008, 109).

According to Stu Isaac, Speedo's Vice President of Sales and Marketing, the company's original focus was on “active-wear for an aquatic lifestyle.”By 1928, the MacRae brothers had taken over the business from their father, Alister, who had founded it 14 years earlier. Their intent in turning some attention to swim wear was simply to tap into a swelling local interest in beach- going and bathing. “It was not as specialized of a market back then as it is today,” explains Isaac, alluding to the sport of competitive swimming, which was still in its relative infancy.

The MacRaes were not competitive swimmers, but they grew up near famous Bondi Beach in Sydney, and were very much a part of the Australian ocean culture. When not involved with their manufacturing or helping to promote water safety, they could usually be found enjoying what they loved most boating.But Australians have always had a keen fascination and passionate love affair with competitive swimming. And, in hindsight, it seems only natural that the MacRaes would eventually turn their attention to the sport's growing popularity. “Speed on in your Speedos,” urged one of MacRae Knitting Mills' early slogans, and ...