Speedo  Speedo International Ltd. is an Australian distributor of swimwear and swim-related accessories based in Nottingham, England. They have roots in Australia but are no longer manufactured in Australia. Founded in Sydney, Australia, in 1914 by Alexander MacRae, a British emigrant, the industry-leading 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. The Speedo brand was previously manufactured for and marketed in North America as "Speedo USA" by PVH under an exclusive perpetual licence, who acquired prior licensee Warnaco Group in 2013. As of January 2020, the Pentland Group purchased back the rights from PVH for $170 million in cash subject to regulatory approval. In accordance with its Australian roots, Speedo uses a boomerang as their symbol. Due to their success in the swimwear industry, the word "Speedo" has become synonymous with racing bathing suits. 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). The Australian Army's need for socks during the First World War 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". 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, despite being banned by some beaches. In 1932, Speedo made its Olympic debut when 16-year old Australian Clare Dennis won the Women's 200 Meter Breaststroke at the Los Angeles Olympic Games. After nearly being disqualified for "showing too much shoulder" in her regulation silk Speedo brand swimsuit, Dennis went on to set a world record time of 3:06.3. The 1936 Berlin Summer Games also saw some controversy as the men's Australian swim team featured shirtless swim trunks for the first time. Also in 1936, Alexander MacRae became involved in the Surf Life Saving Association.