Elasto Group of Companies

What Elasto Group of Companies does

Elasto Group of Companies, operating through its primary subsidiary Textrip (Pvt) Ltd., is a Sri Lanka-based manufacturer and exporter of natural latex rubber exercise, fitness, healthcare, and consumer products, founded in 1947 in Bentota by Engineer Donald Gunasekera and his brother Wilson Gunasekara. The company's core technology is proprietary rubber compound formulation built on 78+ years of polymer processing expertise, sourced sustainably from Sri Lankan natural latex plantations. Its flagship Texstretch brand encompasses over 50 product varieties, including progressive resistance bands, tubes, D-bands, loop bands, O-rings, sport-specific trainers for soccer, cricket, karate, rowing, athletics, swimming, baseball, and wrestling, plus accessories, weighted wearables, and home gym bundles. Complementary product lines include the Mackintosh hospital and mattress sheet range, Mother's Darling baby care products, and industrial latex-coated fabrics.

The business model is anchored in B2B OEM/private-label manufacturing, supplying customized progressive resistance products to over 100 international sports and fitness brands distributed across more than 30 countries. This OEM channel is complemented by direct-to-consumer e-commerce (elasto.lk), 35+ domestic retail showrooms in Sri Lanka, and a wholesale/distributor network with named partners in India (Afton Fitness, Sporting Tools Relish) and other regions. Consumer unit prices range from approximately USD 1.95 (Ankle Trainer) to USD 84.45 (Full Body Harness), with wholesale pricing handled on inquiry. The company operates an ISO 9001/14001/45001 and SMETA-certified manufacturing facility in Bentota and a registered headquarters in Colombo, and has been led since its founding-era transition by Managing Director Mangala Gunasekera. The business remains 100% family-owned with no disclosed external institutional investment.

Name

Elasto Group of Companies

Legal name

Textrip (Pvt) Ltd.

Website

https://elasto.lk

Company type

Private

Founded year

1947

Operating status

Operating

Headcount range

51–100 employees

Short description

Elasto Group operates Textrip (Pvt) Ltd., a Sri Lankan natural latex rubber manufacturer producing over 50 Texstretch progressive resistance exercise products, serving 100+ international sports and fitness brands across 30+ countries via OEM/private-label manufacturing, e-commerce, and distributor channels.

Ownership category

akta.pro rank

Product category

Latex Rubber Fitness Products Manufacturing

NAICS

Plastics and Rubber Products Manufacturing (326)

SIC

Sporting & Athletic Goods, Nec (3949), Plastic Material, Synth Resin/Rubber, Cellulos (No Glass) (2820), Apparel & Other Finishd Prods Of Fabrics & Similar Matl (2300)

akta.pro primary industry

Elastic, Tapes & Webbing Manufacturing (Elastic Bands/Binding/Strapping/Webbing) (IMAOALAD)

Keywords

• Latex rubber manufacturing
• Resistance exercise equipment
• OEM fitness products
• Progressive resistance bands
• Natural latex goods

Headquarters

HQ city

Bentota

HQ country

Sri Lanka

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

Operations, Personnel, Supply Chain, Marketing or Sales, Technology or R&D

Revenue model

1. OEM/Private-Label Manufacturing: Manufactures and supplies custom-branded exercise rubber products (bands, tubes, strips) to over 100 international sports and fitness brands as an OEM partner. Revenue is generated through bulk manufacturing contracts with global brands, with products shipped to markets across 30+ countries including the United States and key European markets.
2. Direct E-commerce Sales: Operates direct-to-consumer online store (elasto.lk) selling Texstretch branded products globally and within Sri Lanka. Consumers can purchase individual products at listed prices with shipping and return policies. Supports wholesale inquiries for bulk purchases.
3. Wholesale and Distribution Sales: Supplies products to international distributors and B2B customers through a dedicated wholesale pricing inquiry system. Revenue generated through bulk orders to regional distributors across 30+ countries.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Textrip (Pvt) Ltd., operating under the Elasto Group of Companies, manufactures and exports natural latex rubber exercise and fitness products — including progressive resistance bands, tubes, D-bands, loop bands, sport-specific trainers, ankle weights, weight jackets, and over 50 product varieties — along with Mackintosh hospital sheets, Mother's Darling baby cot sheets, and latex-coated fabrics. The company serves as a private-label/OEM manufacturer for over 100 international sports and fitness brands distributed across 30+ countries, and additionally sells Texstretch branded products directly to consumers through its own e-commerce storefront, retail showrooms, and factory outlets.

Product overview

Textrip (Pvt) Ltd., operating under the Elasto Group of Companies, is a Sri Lankan manufacturer and exporter of polymer-based products, primarily focused on natural rubber/latex exercise and fitness equipment. The company operates two main product brands: Texstretch, the premier exercise product line featuring progressive resistance bands, tubes, and sport-specific trainers for over 30 sports including athletics, soccer, cricket, karate, rowing, and more; and Mackintosh, which includes hospital/mattress protectors and baby care products made from 100% natural latex. The Texstretch portfolio encompasses over 50 product varieties including resistance tubes (48"), resistance bands (41" LFL), D-bands, loop bands, O-rings, punching bags, ankle/weight trainers, rowing tubes, and sport-specific trainers. The Mackintosh line includes hospital sheets, fabric-coated products, and the Mother's Darling baby cot sheet range. The company also produces Latex Coated Fabrics for industrial applications. Textrip serves as an OEM manufacturer for over 100 international brands and distributes to more than 30 countries worldwide.

Differentiator

Problem solved

Functional benefit

Brands

• Texstretch: Premier exercise sports product brand serving segments of Sports-Science, Exercise-Science, Physical Culture, Beautification, Physiotherapy & Rehabs, and Health & Wellness. Includes progressive resistance bands, tubes, and sport-specific training equipment.
• Mackintosh
• Mother's Darling

Products and services

• Texstretch Tube (Resistance Tubes) Texstretch resistance tubes are 48-inch natural latex tubes with foam handles for full-body workouts across athletics, soccer, karate, and rowing; available in six color-coded resistance levels from Light (Yellow, 1.5kg) to Heavy (Orange, 23kg) at 200% elongation. The product is targeted at fitness enthusiasts, athletes, and rehabilitation users seeking standardized progressive resistance training equipment.
• Texstretch Band (41" LFL) Texstretch 41-inch closed-loop resistance bands are heavy-duty natural latex bands designed for full body extension workouts targeting leg muscles, hips, shoulders, and ankle rehabilitation. Sold in seven color-coded resistance levels, these closed-loop bands serve fitness enthusiasts and physiotherapy/rehabilitation users globally.
• Texstretch D-Band Texstretch D-Bands are resistance bands with D-rings and neoprene straps designed for training athletes on dynamic and static stretching and strengthening of calves, hip flexors, and hamstring muscles. The product is used by athletes and fitness users seeking lower body strengthening and conditioning.
• Texstretch Punching Bag Texstretch Punching Bag is a natural latex punching trainer designed for martial arts practitioners to develop punching power, speed, reflexes, and joint/tendon strength through progressive resistance. The product targets martial arts athletes and combat sports training facilities.
• Texstretch Ankle Trainer Texstretch Ankle Trainer is a resistance training product for ankle development, rehabilitation, and strengthening with adjustable resistance levels from 4kg to 10kg. The product targets athletes, fitness users, and physiotherapy patients needing ankle-specific progressive resistance.
• Texstretch Clip Tubes Texstretch Clip Tubes are resistance tubes with clip attachments for easy connection to handles, anchors, or other equipment, available in multiple strength levels. The product targets fitness users and physical therapy applications needing modular resistance setups.
• Texstretch Soccer Trainer Texstretch Soccer Trainer is a sport-specific training product that allows soccer players to practice ball control, shooting, passing, and receiving with progressive resistance, featuring an adjustable waistband and tether. The product targets soccer athletes and football training programs.
• Texstretch Roller Stretcher Texstretch Roller Stretcher is a triple-tube resistance product functioning as an alternative to weight training, designed for both hands and legs with detachable tubes providing three different strength levels. The product serves users seeking weight-training alternatives and progressive resistance flexibility.
• Texstretch Wrestling Trainer Texstretch Wrestling Trainer is a resistance band designed for wrestling training to develop strength and technique, with 41-inch length and 13kg to 37.5kg resistance range. The product serves wrestlers and combat sports athletes needing sport-specific strength development.
• Texstretch Jumping Trainer Texstretch Jumping Trainer is a resistance product designed to maximize explosive leg power and vertical jump performance through progressive resistance training for lower body development. The product serves athletes, basketball and volleyball players, and explosive-sport training programs.
• Texstretch Rowing Tube Texstretch Rowing Tube is a resistance tube designed for rowing exercises to strengthen back muscles including Trapezius, Latissimus dorsi and Rhomboids, with two-foot straps and foam-grip handles. The product targets rowers, crossfit athletes, and users seeking back-muscle conditioning.
• Texstretch Weight Jacket Texstretch Weight Jacket is a 4kg standard weighted resistance jacket for progressive strength training that distributes weight across the body for full-body conditioning. The product serves athletes and fitness users seeking full-body weight-resistance training.
• Texstretch Ankle Weights Texstretch Ankle Weights are weighted ankle accessories for strength training exercises, available in multiple weight options from 250g to 2kg per unit with neoprene straps and hook-and-loop fasteners. The product serves fitness and rehabilitation users needing lower-body resistance additions.
• Texstretch Loop Band Texstretch Loop Bands are closed-loop resistance bands for lower body exercises, securing to ankles, calves, knees, or thighs for rehabilitation, activation, and strengthening of leg, hip, and glute muscles. The product targets rehabilitation patients, athletes, and lower-body training users.
• Texstretch O-Ring Texstretch O-Ring is a resistance ring with two soft grips for inner/outer thighs, upper arms, and chest exercises, providing progressive resistance for muscle toning and coordination. The product targets fitness users, pilates practitioners, and rehabilitation patients.
• Mackintosh Hospital Sheet Mackintosh Hospital Sheets are hospital-grade mattress protectors and bed sheets made from 100% natural latex, waterproof, autoclavable at 121°C, and free of phthalates and formaldehyde. The product serves hospitals, clinics, and healthcare facilities for sanitation and bacteria prevention in patient care environments.
• Mother's Darling Baby Cot Sheet Mother's Darling Baby Cot Sheet is a baby care product featuring cot sheets made from natural latex, providing comfort and protection for infants. The product targets parents and caregivers needing waterproof, comfortable baby bedding solutions.
• Latex Coated Fabrics Latex Coated Fabrics are industrial textile products for various commercial and industrial uses, available with one-sided, two-sided, or multi-layered coatings on woven or knitted cotton fabrics. The product serves industrial and commercial buyers needing durable coated textile materials.
• OEM / Private-Label Manufacturing Service Elasto Group (Textrip) provides OEM and private-label manufacturing services to over 100 international sports and fitness brands, producing custom-branded latex resistance exercise products including bands, tubes, and sport-specific trainers for shipment to global markets across 30+ countries. The service targets international sports brand procurement and sourcing teams needing reliable, high-volume, ISO-certified OEM partners with established cross-border logistics.

Quantifiable outcome

• Over 100 leading international brands served
• +2 more outcomes

Named customers1 record

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Two partnerships are on record, tiered core.

• Afton Fitness CompanycoreChannel Partner/ Reseller/ DistributorStrategic distributor partner for India, located at Embassy Tower, Montieth Road, Egmore, Chennai, Tamil Nadu 600008, India. Manages distribution and wholesale business opportunities for Texstretch products in the Indian market.
• Sporting Tools Relish (Pvt) Ltd.coreChannel Partner/ Reseller/ DistributorStrategic distributor partner for India, located at Shop No. 06, Sundervan Complex, Andheri West, Mumbai, Maharashtra 400102, India. Manages wholesale business opportunities for Texstretch products in the Mumbai and western India region.

Scale indicators5 records

Recent moves8 records

Expansion highlights5 records

Broad incumbents

• Hyperice: Premium recovery and performance technology brand that has expanded into resistance/warmup products; adjacent to Elasto in the fitness/rehab consumer space with a stronger consumer brand footprint.
• TRX: Global suspension and bodyweight training equipment brand offering complementary resistance-based fitness products; broader portfolio than Elasto but overlapping in functional training and home-gym positioning.

Direct peers

• Fit Simplify: Resistance loop bands and tube sets sold globally through e-commerce; directly comparable to Elasto's loop bands and tube SKUs in terms of consumer use case and price point.
• SPRI: Long-standing resistance training products brand offering bands, tubes, and rehab equipment in fitness and therapy channels; comparable catalogue breadth and channel mix to Elasto's Texstretch line.
• Bodylastics: US-based direct-to-consumer brand of resistance bands and tube systems with handles and door anchors; comparable to Texstretch in product type, distribution model (own storefront + Amazon), and target end-user.
• Stroops (Slastix): Resistance band and functional training specialist serving athletic trainers and rehab markets — comparable to Elasto's sport-specific and rehabilitation trainer portfolio.
• TheraBand (Performance Health / Hygenic Corp): Long-established US manufacturer of elastic resistance bands and tubes for fitness, rehab, and physical therapy — the same core product category Elasto serves through Texstretch, and the closest direct global analog in the resistance band segment.
• Black Mountain Products: US resistance band and rehab-equipment manufacturer with multi-pack offerings for home and clinical use — closely comparable to Elasto's bundled Home Gym Pack and progressive resistance portfolio.
• WODFitters: Specialist resistance band maker for CrossFit and functional fitness; comparable to Elasto's sport-specific trainers (soccer, cricket, karate, rowing) in targeting sport-coded training use cases.
• Gymstick: Finnish-origin resistance and fitness equipment brand with global distribution; comparable to Elasto in offering stick-based and resistance tube products across European and international markets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/textrip-srilanka

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Elasto Group of Companies