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He set up an underwear manufacture business called MacRae Hosiery Manufacturers.
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Speedo originated under the name 'Fortitude'. In response to the growing beach culture in Australia, MacRae began producing swimwear and changed the company name to MacRae Knitting Mills. (http://speedo.com.au/australia/history)
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MacRae introduced the classic, figure hugging "racerback swimsuit, it allowed greater movement meaning wearers would swim faster.
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The introduction of the "racerback" style inspired a staff member to come up with the slogan "Speed in your Speedos" and this is when the Speedo name was born.
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Speedo was established in the hearts and minds of swimmers and the general public when Sweedish swimmer Arne Borg set a world record in a Speedo swimsuit.
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Speedo products began to make headlines for their style and performance.
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Australian Claire Dennis won gold in her speedo swimsuit in the 200m breastsroke, however there was controversey it showed too much shoulder.
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The Australian Mens swim team were all wearing Speedo, including a daring swimming shorts design.
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After the war, a new factory was opened to cope with the increased demand for swimsuits, escpecially the bikini. The Speedo bikini was banned by beach inspectors. It continued to dominate the competitive swimming industry, more atheletes were choosing to endorse Speedo.
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Speedo became a publicly traded company on the Sydney Stock exchange
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Speedos sponsorship of the entire Australian swim team, transformed Speedo into a world famous brand when the team won 8 gold medals.
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Speedo. began exporting to the USA. A new international division was formed that would monitor the New Zealand, Japanese and South African markets. It also moved into Europe.
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The Europe subsidary was established in London and Speedo swimwear manufacture and distribution licenses were granted to Japan and South Africa.
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27 of the 29 gold medalists were wearing Speedo suits and additionally 22 of the 23 world records set at the games were made by swimmers in Speedo.
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It was launched in Eastern Europe, Brazil, Mexico and Speedo Canada was established.
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Speedo was the first company to produce swimwear made of nylon/elastane - which is the most popular fabric today.
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21 of the 22 world records were broken by swimmers wearing Speedo and 52 of the 58 nations competing were in Speedo
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Speedo was the official licensee for the Olympics and 52 of the 54 nations were in speedo.
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Manufacture licenses were distributed to companies in Belgium, Iceland, Italy, Spain, Sweden and Switzerland.
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Speedo becomes the first ever sponsor of the Australian Institute of Sport
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Speedo launched the S2000 which had 15% less drag than conventional swimsuit material. At the Barcelona Olympics, 53% of all swimming medals won were by swimmers competing in S2000.
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Speedo launched Endurance - the world's first chlorine resistant fabric.
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AQUABLADE has 8% less resistance than S2000. At the Atlanta Olympics 77% of all swimming medals were won by swimmers wearing AQUABLADE
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The 2000 Sydney Olympics saw 13 of the 15 world records broken by swimmers in FASTSKIN and 83% of all medals won by swimmers.
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Speedo commisions fashion designer Melissa Odabash to design a limited edition anniversary collection.
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FSII - is an evoltion of FASTSKIN that reduces drag by up to 4%. At the Athens Olympics Michael Phelps makes history in FASTSKIN FSII by becoming the first swimmer to win 8 medals. More swimmers in Athens wore Speedo than all of the other brands put together.
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Speedo joins forces with founder of Brazilian swimwear brand Rosa Cha to create a vibrant fashion collection.
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Speedo introduces new collaboration with fashion label Comme des Garcons.
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FASTSKIN FS-PRO was the fastest most lightweight swimsuit on the market, 21 world records were broken with 6 months.
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In its 80th year of operation, Speedo launched LZR Racer - the most technically advanced swimsuit in the world.
The Beijing Olympics proved to be a success for Speedo and the LZR Racer with 92% of all medals won by althetes wearing the suit.
Speedo sponsored Michael Phelps who was the star of the games with a record breaking 8 gold medals.
