MacRae started out making underwear, but his 1927 "racer-back costume" changed everything: its open shoulder and exposed back gave swimmers a new range of motion and was quickly adopted by competitors — even as some beaches banned it. Speedo made its Olympic debut in 1932 when Australia's Clare Dennis won the 200m breaststroke in a world-record time, and the boomerang-marked brand has chased records since, from the low-drag suits of the 1990s to the Fastskin and LZR Racer worn by Michael Phelps in the 2000s.
Now based in Nottingham, England, Speedo is a subsidiary of the British Pentland Group, which took a stake in 1990 and bought back full North American rights from PVH in 2020. The name is so tied to its sport that "Speedo" became a generic word for racing swimsuits — though briefs are only a sliver of a range spanning goggles, swimwear and accessories.