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New Balance

Multinational corporation retailing sports footwear and apparel

Metrics

Leadership

Sustainability

CSR & Impact

Talent/People/Culture

Innovation

Digital Transformation

Economic Priorities

  • Retail
  • 100 Guest Street, Boston, Massachusetts, U.S.
  • CEO Joe Preston, CFO John K Withee
  • Sports footwear and apparel
  • William J. Riley
  • 5,000+
  • 1906

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Summary

New Balance began in 1906 as a one-man operation manufacturing arch supports and today has evolved into a multinational corporation, retailing sports footwear and apparel worldwide. New Balance is celebrated for its advanced technologies, such as Fresh Foam and FuelCell, which enhance the performance and comfort of its products. Upholding its values of inclusivity, the brand designs products that cater to athletes of all levels, from professional competitors to everyday fitness enthusiasts, and maintains a commitment to ethical practices through its U.S. and UK manufacturing facilities. Alongside product excellence, New Balance actively engages in community support and sustainability initiatives, solidifying its position as a brand that empowers individuals and values social responsibility.

History

1906 witnessed Irish immigrant William J. Riley launch New Balance Arch Support Company in Boston, which produced arch supports to improve shoe fit. His debut product, a flexible arch support, was designed with three support points to provide balance and comfort in shoes.

Word is that Riley coined the name “New Balance” by observing the way chickens in his backyard balanced well on their three prolonged feet, and came up with an idea to make arch support with three support points. His market was people who had to be on their feet for long stretches oat work, such as the police and firefighters.

In 1927, the arch support produced by Riley began gaining recognition and this motivated to him hire salesman Arthur Hal. In 1956, Hall sold the company to his daughter Eleanor and her husband Paul Kidd. The couple sold arch supports until 1960, when they began designing and manufacturing “Trackster”, the world’s first running shoe designed with a ripple sole. This created a sensation in the market and both Massachusetts Institute of Technology, Tufts University and Boston University adopted it for their cross-country teams.

In 1970, New Balance Athletic Shoe, Inc., changed to New Balance Athletics, Inc. Sales was dismal until Jim Davis bought the company during the Boston Marathon in 1972. At the time, the company consisted of six people who made thirty pairs of shoes everyday and sold it through mail-order. Davis bought the company and strengthened its pillars of individual preferences, customer service and quality products. His future wife Anne, who joined the company in 1978, focused on building a distinct culture for employees and customers.

It was well timed as Boston was at the apex of the running boom in the Seventies. Following gradual expansion of their product line, sales grew and the shoes made its way to Washington, DC in the Seventies and Eighties. The company was run by Rob DeMartini for twelve years wherein his focus was to expand worldwide. Today, thirty percent of New Balance shoes sold in the European market are designed and produced at its facility in Flimby, England.

The company entered the soccer market through its subsidiary Warrior Sports in 2012, followed by a reported $40 million-a-year alliance with Liverpool. The following year, New Balance was against Trans Pacific Partnership and condemned Obama administration’s support for it, stating it would hurt its domestic shoe manufacturing. Matt Lebretton, Vice President of Public Affairs stated in April 2016 “When Hillary Clinton, Bernie Sanders and Donald Trump all agree on something, then it has to be given a closer look; and they all agree that TPP is not the right policy.”

When Donald Trump won the U.S. presidential election, Lebretton told a reporter, “The Obama administration turned a deaf ear to us and frankly, with President-elect Trump, we feel things are going to move in the right direction.” News outlets reported that a boycott campaign was created out of an interpretation of Lebretton’s comments as supportive of Trump. Owner and Chairman Davis are said to have donated near $400,000 to Trump Victory Committee in September 2016.

New Balance maintains a manufacturing presence in the United States, as well as in the United Kingdom, where it manufactures some of its most popular models such as 990. As a result, New Balance shoes are expensive and offer technical features such as blended gel inserts, heel counters and a selection of sizes. In 2018, the company signed a sponsorship deal with New York Mets.

The same year, New Balance signed NBA star Kawhi Leonard for an exclusive basketball shoe contract and Chief Commercial Officer Joe Preston succeeded Rob DeMartini as President The following year, the company released its first Kawhi Leonard-signature sneaker, and more recently announced a sponsorship deal with NBA and launched its line of Kawhi Leonard-signature sneakers, “Kahwi”. The same month, it also launched “FuelCell” branded shoe with a carbon plate, after new running guidelines allowing the plates in competitive races were approved.

Mission Statement

New Balance’s mission is to demonstrate leadership in the global athletic market by creating products that blend function and fashion while delivering superior performance. The brand is committed to designing and manufacturing footwear and apparel that meet the needs of athletes at all levels, from elite competitors to everyday fitness enthusiasts. This dedication to high-quality craftsmanship is driven by a desire to push the boundaries of innovation while staying true to the brand’s rich heritage. New Balance takes pride in its American and UK manufacturing facilities, ensuring that its products uphold the highest standards of quality and ethics while supporting local economies.

A significant part of New Balance’s mission is to foster inclusivity and inspire people to move and pursue active lifestyles. The company believes that fitness and sports are universal, striving to create products that cater to diverse body types, preferences, and performance needs. New Balance’s mission goes beyond products to encompass a strong commitment to social responsibility and community engagement. By promoting initiatives that support health, wellness, and equality, New Balance aims to make a positive impact both within the sports industry and beyond. This mission reinforces New Balance’s identity as a brand that champions innovation, inclusivity, and responsible practices to empower individuals and communities.

Vision

The vision of New Balance is to be a leading global athletic brand that champions innovation, performance, and style while maintaining a deep commitment to quality and authenticity. At the core of this vision is the brand’s dedication to blending technology with tradition to create footwear and apparel that support athletes of all levels in achieving their goals. New Balance strives to stand out not just by following trends, but by setting them, focusing on cutting-edge research and development to deliver products that optimize performance and comfort. This combination of innovation and heritage helps position New Balance as a brand that athletes and casual wearers trust for superior quality and performance.

Central to New Balance’s vision is the belief that sports and fitness are for everyone. The company aims to inspire people to move, push boundaries, and lead healthy, active lifestyles. To achieve this, New Balance prioritizes inclusivity in its product range, ensuring that its designs cater to diverse body types, activity levels, and personal preferences. By placing emphasis on both performance and style, New Balance aspires to make every customer feel confident and capable, whether they are training for a marathon, working out at the gym, or enjoying a casual walk. This vision extends beyond products to community engagement, as New Balance supports initiatives that promote health and wellness around the world.

Sustainability is another pillar of New Balance’s vision for the future. The company is dedicated to making environmentally responsible decisions that align with its long-term goals. This includes investing in eco-friendly materials, reducing its carbon footprint, and partnering with suppliers that adhere to ethical practices. New Balance envisions a future where its products not only empower athletes but also contribute to the well-being of the planet. By integrating sustainable practices into its operations, the brand seeks to build trust with customers who value environmental and social responsibility. Through these commitments, New Balance solidifies its vision of being a progressive, performance-oriented brand that prioritizes innovation, community, and sustainability.

Leadership Team

Joe Preston (CEO)
John K Withee (CFO)

Products and Services

New Balance is renowned for its comprehensive range of athletic footwear, apparel, and accessories that combine performance, comfort, and style. The brand offers products tailored to various sports and activities, including running, training, walking, basketball, and lifestyle wear. Its footwear line, distinguished by meticulous engineering and the use of advanced technologies such as Fresh Foam and FuelCell, caters to diverse needs ranging from high-performance athletic shoes to everyday casual sneakers. In addition, New Balance offers a line of apparel that includes high-quality activewear designed for optimal breathability, support, and movement, ensuring that athletes and fitness enthusiasts stay comfortable and confident during any activity.

Beyond their products, New Balance extends its services through personalized experiences and community engagement. The company provides custom shoe fittings and gait analysis in select stores, helping customers find the best products suited to their needs and ensuring optimal performance and comfort. New Balance is also committed to fostering a sense of community and support through various initiatives, including sponsorships, partnerships with professional athletes, and involvement in local and global charitable programs. This blend of high-quality products and community-oriented services solidifies New Balance’s reputation as a brand that not only meets the needs of its customers but also enriches their fitness and lifestyle experiences.

Recognition and Awards

New Balance is recognised worldwide for helping professional athletes achieve their dreams, set records and win medals or propelling everyday athletes to achieve a new PR, run their first 5K or just to live a more healthy and active lifestyle.

References