New Balance (NB) is an American sports footwear and apparel brand that was established in 1906. The brand was originally associated with the New Balance Arch Supported . Today the brand is associated with New Balance Athletics, Inc., an American multinational corporation and its parent New Balance, Inc., a Jim Davis owned holding that owns New Balance Athletics, Inc. New Balance Athletics, Inc. and New Balance, Inc. are both based in the same headquarters located in Boston, Massachusetts.
New Balance is one of the world's major sports footwear and apparel manufacturers and maintains a manufacturing presence in the United States, as well as in the United Kingdom for the European market, where they produce some of their most popular models such as the 990 model—in contrast to its etitors, which often manufacture exclusively outside the United States and Europe. New Balance claims to differentiate their products with technical features, such as blended gel inserts, heel counters and a greater selection of sizes, particularly for very narrow or very wide widths. The has made total profits of approximately $69 billion since 1992.[citation needed]
New Balance is a private owned that includes brands Aravon, Dunham, and New Balance. They totaled 4.4 Billion Dollars in revenue in 2020 and are made up of 7,000 employees.[citation
History[edit]
New Balance custom 574 shoe
New Balance Fuel Core Nitrel trail shoes
In 1906, William J. Riley, an Irish immigrant, founded the New Balance Arch Support Company (registered as New Balance Arch Support Company, Inc. and later registered as New Balance Arch Co., Inc.) in the Boston area, manufacturing arch supports and other accessories designed to improve shoe fit. His first product, a flexible arch support, was designed with three support points to provide greater balance and comfort in the shoe. It is believed that Riley came up with the name "New Balance" by observing chickens in his yard and demonstrated the way his arch supports worked by keeping a chicken foot on his office desk. He explained to customers that the chicken's three-pronged foot resulted in perfect balance. In 1927, Riley hired Arthur Hall to be a salesman. In 1934, Hall became a business partner.[4] The company later on did business under the name New Balance Athletic Shoe Company. In 1956, Hall sold the business to his daughter Eleanor and her husband Paul Kidd.[5]
Eleanor and Paul Kidd continued to sell mainly arch supports until 1960, when they designed and manufactured the "Trackster", the world's first running shoe made with a ripple sole. It was also the first running shoe to come in varying widths. The "Trackster" was given a big boost through the YMCA programs in which it became the unofficial shoe. College track teams such as Massachusetts Institute of Technology (MIT), Tufts University and Boston University adopted the New Balance Trackster for their cross-country teams, soon to be followed by other colleges and private high schools around the country.[4]
In 1970, a new business entity called New Balance Athletic Shoe, Inc. was formed and replaced the original company, this entity would today become known as New Balance Athletics, Inc., beginning in 2015.[6]
Marketing was mostly word-of-mouth or local sports fairs. Sales languished until 1972, when current Chairman Jim Davis bought the company on the day of that year's Boston Marathon. At the time, the company consisted of six people making 30 pairs of shoes daily and selling products mostly through mail-order with a few U.S. retailers. Jim Davis bought the company under a business entity called New Balance, Inc.,[7] this being the third main business entity to use the New Balance name, but the first to be called just New Balance, even though the New Balance trademarks and product lines are associated with the business entity New Balance Athletics, Inc. Jim committed himself to uphold the company's traditional commitment to individual preferences, customer service and quality products. His future wife Anne, who joined the company in 1978, focused on building a distinct culture for New Balance employees and customers. Their timing was perfect, as the Boston area became a center for the running boom that struck the U.S. in the 1970s. Their product line expanded and sales grew rapidly once the shoes made their way to Washington, DC, in the late 1970s and early 1980s. The company prospered, and the Davises looked to expand New Balance into a global company. The company was run by Rob DeMartini for 12 years until 2019 when he left to join USA cycling.[8] DeMartini's background includes Procter & Gamble and Gillette Shave Company. Today, 30 percent of the New Balance shoes sold in the European market are manufactured at the New Balance facility in Flimby, England.[citation needed]
In February 2015, the company announced its entry into the global soccer (association football) market. New Balance had started its soccer business through its subsidiary Warrior Sports in 2012, punctuated by a $40-million-a-year sponsorship deal with Liverpool, but made the move to rebrand based on the global reach of the parent brand.[9] Later on, the UK High Court rejected the legal filling of New Balance against the Liverpool's UK£70 million+ kit deal with Nike, which come into force in January 2020 and staggered the Manchester United deal with Adidas for £75 million annually.[10][11]
During 2016, New Balance opposed the Trans Pacific Partnership[12][13][14] and condemned the Obama administration's support for it, arguing that it would hurt their domestic shoe manufacturing (while Nike, which does not manufacture in the US, supported the TPP).[15][16] Matt Lebretton, the company's Vice President of public affairs said in April 2016 "I would say that 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." After Donald Trump won the 2016 U.S. presidential election, Lebretton told a reporter, "The Obama administration turned a deaf ear to us [about trade] and frankly, with President-elect Trump, we feel things are going to move in the right direction." Some news outlets reported that an ad hoc boycott campaign was created out of an interpretation of Lebretton's remarks as supportive of Trump.[17][18][19][20] Owner and Chairman Davis donated almost $400,000 to the Trump Victory Committee in September 2016.[21]
In February 2018, the company signed a sponsorship deal with the New York Mets baseball team.[22] In November, New Balance signed NBA star Kawhi Leonard to an exclusive basketball shoe contract.[23] In December, Chief Commercial Officer Joe Preston succeeded Rob DeMartini as New Balance's president.[1]
In February 2019, the company released its first Kawhi Leonard-signature sneaker, named OMN1S.[23]
In February 2020, the company announced a multi-year sponsorship deal with the NBA, and launched its new line of Kawhi Leonard-signature sneakers, named "KAWHI".[24][25] Also in February, the company launched a FuelCell branded shoe with a carbon plate, after new running guidelines allowing the plates in competitive races were approved.[26]
In March 2020, the company announced that it would be converting some of its manufacturing facilities in New England to produce face masks in response to the COVID-19 pandemic.[27]
Products[edit]
New Balance manufactures a range of shoes and apparel for runners, other athletes and non-athletes. The company also collaborates with celebrities to launch branded product lines.
Running shoes[edit]
Trail running shoes New Balance v.470
New Balance's running shoes include its Fresh Foam and FuelCell lines, named for the type of foam in their soles.[28][29]
Basketball shoes[edit]
The company markets a line of Kawhi Leonard-branded signature basketball shoes. The first version was called OMN1S, and the second version was named "KAWHI".[23][24]
Baseball shoes[edit]
New Balance manufactures a line of baseball shoes that are described as a runner's shoe with spikes. The underfoot is designed to relieve spike pressure.[30]
Skateboarding shoes[edit]
New Balance Numeric is the company's skateboarding shoe brand, which is distributed by Black Box Distribution, a company founded by professional skateboarder Jamie Thomas.[31] The brand also consists of a sponsored team that is coordinated by professional skateboarder John Rattray.[32] The team includes professional skateboarders PJ Ladd, Tiago Lemos, Arto Saari, Brandon Westgate and Jamie Foy.[33]