Gymnastics is rarely on the radar of most sports fans, but every four years, the sport takes center stage as arguably the most popular Summer Olympics competition. It also shines a spotlight on the small-town company that produces the team’s leotards.
On Wednesday, USA Gymnastics unveiled the leotards and apparel their women and men gymnasts will wear at the Paris Olympics from GK Elite; the company is based in Reading, Pa., where the uniforms are designed, cut and assembled. Fans typically have to wait until the gymnasts walk out on the mats at the Games to see the leotards, but this year the U.S. uniforms have been revealed in advance of the Olympic competition for the first time. Replica versions of the apparel will be available ahead of the competition at Dick’s Sporting Goods and on GK Elite’s website.
“Our sport crosses over to [popular] culture every four years, and we get this amazing opportunity,” Matt Cowan, CEO of GK’s parent company Elite Sportswear, said in a video interview. Cowan hopes girls and boys will wear the apparel as they cheer on Team USA in Paris, no different than NFL and NBA fans adorning jerseys while watching their favorite players, so the company partnered with USAG for the early rollout.
GK has carved out a dominant position in gymnastics, with a global market share of more than 60% for apparel, according to Cowan. GK’s holding company, Elite Sportswear, has two other main brands, Dolfin swimwear and Omni Cheer, and it is majority owned by private equity firm Riverside Company. Elite has roughly 500 employees. Cowan would not comment on the company’s total revenue.
This is GK’s second Olympics as the official partner for USA Gymnastics. The company made apparel for previous U.S. Olympic teams, but the logo of big brands, such as Adidas, Reebok and Under Armour, adorned the outfits, with GK serving as the federation’s backer. “These big conglomerates wanted to rent the space during the height of the sport, but GK made the product because it’s a specialized product,” Cowan said.
GK took over as the official sponsor ahead of the Tokyo Olympics. Cowan says GK has been able to generate a positive financial return on investment, but the company had other objectives with a more direct involvement. “The health of USA Gymnastics is very critical to our business in terms of people wanting to enroll and compete at events and the next generation of athletes,” Cowan said.
In 2023, there were 4.8 million active participants in gymnastics, and participation typically grows roughly 15% after the Olympics. GK’s core business also jumps 15% to 20% in those years, and Cowan hopes the introduction of apparel ahead of the Games will fuel a “longer and stronger demand product for the product.”
Superstar gymnast Simone Biles, competing in her third Olympics this year, is a longtime GK endorser, and each member of this year’s team, including the two alternates, is sponsored by GK. Four of the gymnasts have signature lines with the company. The eight competition leotards for the women feature more than 47,000 Swarovski crystals.
GK will also outfit eight other gymnastics teams in Paris, including Canada, Australia and the Netherlands.