• by David Goetzl , August 1, 2006

Speedo is doing all it can to change public perception. So if you think it's solely a brand for swimmers, think again. It still wants to be in the pool--but it also wants face time on the beach. Maybe even de rigueur on sunbathers in the upscale Hamptons or St. Barts. The company hopes to gain a beachhead as a fashion and lifestyle marketer.

That's a tough challenge. Many of the glitterati still associate the brand with the classic Speedo--the super-short brief worn by Mark Spitz in the '72 Olympics. Frankly, that "barely-there" look is often the butt of jokes for its, well, barely there configuration. No doubt an aerodynamic plus--maybe even a contributor to the success of world-class swimmers for decades. But as a fashion accessory, it's tricky.

In fact, brands that were once the sole province of world-class athletes and attendant wannabes, particularly in the 1970s, are poised for a renaissance. They hope to capitalize on the appeal of the retro look among young hipsters. The most successful example has been the decade-long resuscitation of Puma, which benefited from its athletic past and transformed itself into a lifestyle brand. Now that trend is helping Puma in reverse, as the identity and revenues gained from its lifestyle popularity are helping to rebuild its business in the athletic world. (Witness the slew of teams in the recent World Cup, including eventual champion Italy, which wore its uniforms).

Going forward, there are other possibilities for the resuscitation of iconic sportswear, particularly the chance to parlay the look of '70s tennis stars into a must-wear at hard-pounding clubs. Bjorn Borg's Fila and John McEnroe's Sergio Tacchini shirts from Wimbledon circa 1977 are solid candidates, along with the Le Coq Sportif garb worn by Grand Slam winners Arthur Ashe and Yannick Noah. And why not update golf legend Jack Nicklaus' Golden Bear line?

Clearly, Speedo wants to pursue a twofold strategy. First, keep its reputation as the swimsuit of choice among world-class competitors, which brings with it a publicity bonanza during the Olympics every four years. Second, tap into young people's desire to embrace venerable athletic brands for casual use. Becoming a fashion statement among club-hoppers is good. But Speedo would happily settle for solid placement as popular activewear.

At present, the company signed 2004 Olympic sensation Michael Phelps to promote its high-performance swimwear and training gear to competitive swimmers. It also has fellow Olympic gold medalist Amanda Beard--a winner in three straight Olympics--to try and give it a foothold beyond the goggles and suits buffered by new water-repellent fabric. Beard is the face of the Axcelerate beachwear line, a slew of bikinis, other bathing suits with stripes and floral designs, even jackets and dresses. She has been part of a reported $1 million print campaign, and has made other appearances and outreach efforts.

Like many successful Olympians, she has also attempted to capitalize on her accomplishments by signing other endorsement deals, with brands such as Red Bull and Mutual of Omaha. Plus, the dedicated athlete has tried to cultivate an image as a sex symbol, most notably by posing on the cover of this month's FHM magazine, where she's labeled as the "World's Sexiest Athlete." Needless to say, she looks considerably different than the swim-capped winner in the Athens games. Interestingly, she is shown in provocative poses in swimsuits that are far steamier than anything in the Speedo portfolio. (Evidently, her contract is not exclusive.)

There are many faces of the 24-year-old Beard: world-class athlete, would-be sex symbol, even businesswoman. She's involved with her own line of skin care, fragrance, and other beauty products. USA Today sums it up nicely: "To teenage girls, she's living proof to never give up. To women, she's the embodiment of a healthy active lifestyle. And to men, she's one of the sexiest athletes alive."

The Axcelerate Speedo line clearly isn't targeted to the latter group. In fact, it's unclear how the Beard-as-sex-symbol foray works with the Speedo initiative.

Along with the ad campaign and other efforts, Speedo's latest marketing tactic is product placement. On the July 18 episode of MTV's reality hit "Real World," Beard plays a role in the story line; she is scheduled to make an appearance to meet fans at a Speedo store in Key West. (One of the five top-ranked product placements of the week, according to measurement firm iTVX.)

Beard's appearance turns out to be a snafu. Due to scheduling issues, few people show up. Still, she seems mellow and cool--far from a diva. It's a casual look at Beard, as her go-with-the-flow attitude is somewhat contrary to the self-assured, confident FHM cover girl.

While Beard's less-than-dynamic delivery isn't likely to generate much buzz for the Speedo line, the product placement has merit. The company's logo is seen multiple times on a show with terrific appeal among the 12-to-24 set and slightly older trendsetters. And the inside of a Speedo store gets ample coverage. There's also an audio plug for Speedo's online store.

The swimsuit-cum-lifestyle marketer still deserves a medal, perhaps a bronze. Beard's appearance may just accelerate sales of Axcelerate. Whether the brand makes it to the sands of the Hamptons, however, is still a question mark.