Elastic Interface

Italian chamois-pad maker near Treviso with a quiet near-monopoly on premium cycling-short inserts: ~3.2M pads/year on ~€20M revenue (≈$6/pad); the whole company changed hands for $30.5M. Its catalog pads sit inside shorts retailing $174 (Velocio) to $295 (MAAP), and Chinese direct sellers advertise the same pads by name under $100. The CycleWorth "drawer test": if your pad's label says Elastic Interface, "you already know what it cost." Core exhibit for white-label-economics.

Source: report