Huntington Beach-based Tyr Sport Inc. is looking to make a splash in the 2008 Summer Olympic Games in Beijing.
The maker of swimsuits, goggles and other water gear just signed a multimillion dollar sponsorship contract with two-time Olympic medallist Amanda Weir. The company is “feverishly” working on swimsuits and goggles to debut for the Olympics, said Steve Furniss, Tyr’s founder and executive vice president.
“For us, there was no bigger stage,” he said.
At 10 years, the contract with Weir is the biggest and longest yet for Tyr, Furniss said.
It is all part of Tyr’s plan to build its brand and drive sales, he said.
Weir, a freestyle swimmer who recently left the University of Southern California to turn pro, has a following and connects with Tyr’s biggest customers: females, he said.
The hope: when people see Weir in a Tyr swimsuit at the Olympics, they’ll want to try them, Furniss said.
“It has a pyramid effect,” he said.
The company, started in 1985 by Furniss, a former Olympic medallist and swimmer, has estimated yearly sales of more than $50 million.
It’s owned by New York-based Swimwear Anywhere Inc., which bought Tyr in 1999 and makes swimsuits under license for brands Juicy Couture, Liz Claiborne, DKNY and Beach House.
Tyr sells its clothing and gear, including goggles and swim training paddles, to more than 1,800 sporting goods stores, such as Sports Authority, Sport Chalet, REI and Big 5 Sporting Goods.
It also sells to distributors, such as Competitive Aquatic Supply in Huntington Beach, which outfits college, high school, club, summer league and other swim teams.
“Tyr is always trying to find an innovative design for their swimwear,” said Kurt Kachigan, owner of Competitive Aquatic Supply.
With 75 workers, Tyr has outgrown its 60,000-square-foot office and 25,000-square-foot warehouse in Huntington Beach and is seeking a bigger building, Furniss said.
Last year, the company hired some 12 workers and is looking to hire another five or so in 2007, he said.
But moving may have to wait. Tyr plans to spend the next year ramping up for the 2008 games.
“Swimming always grows in an Olympic year because (the U.S.) always does so well,” Kachigan said. “Little Johnny and Mary swimmers see an athlete in a Tyr suit and they’re going to want that Tyr suit.”
Tyr handles distribution and design of its swimming gear, including kickboards, swim caps, goggles and bags, from Orange County.
Apparel, which makes up about 70% of Tyr’s sales, is designed in New York at Swimwear Anywhere.
The company is working with designers and athletes to create competitive swimsuits that let swimmers move through water quicker, Furniss said. Fabrics have different finishes that enable water to run off them, he said.
The competitive line runs from about $70 for tights to $220-plus for a full bodysuit. Tyr also plans new goggles and caps, Furniss said.
The gear is expected to launch in the summer, when the company rolls out marketing plans for the Olympics, he said.
The company has stiff competition. It’s up against swimwear leader Speedo, part of Britain’s Pentland Group PLC, and sporting goods powerhouse Nike Inc.
Tyr holds one of the top spots in the market, Furniss said, but has to fight every day for market share and to retain athletes.
The company has grown steadily since Furniss started it back in 1985 out of a 4,500-square-foot office in Long Beach with two other workers.
There have been bumps, particularly in the late 1990s and early 2000s, when sporting goods stores went through consolidation, Furniss said.
Tyr’s double-digit growth dropped to single digits but later recovered, he said.
In 1999, Tyr needed help with design and Furniss sold his majority stake to privately held Swimwear Anywhere.
“Everything continues to evolve out there and we need to evolve with it,” he said. “That’s what keeps us up all hours of the night.”
