
New Era Cap is owned by the Koch family through New Era Cap, LLC, a private Buffalo, New York company controlled by fourth-generation CEO Chris Koch. ACON Investments holds a minority stake, and MLB, the NFL, and the NBA hold small equity positions. Founded in 1920, the company generates roughly $2 billion in annual revenue with subsidiary '47.
| Brand | Parent Company | Ownership Type |
|---|---|---|
| New Era Cap | New Era Cap, LLC | Wholly owned |
Ehrhardt Koch borrowed $5,000 from his aunt and started the E. Koch Cap Company in Buffalo in 1920, producing 60,000 caps in its first year with 14 employees on the third floor of a Genesee Street building. He renamed it New Era Cap a year later. The company made Gatsby-style caps and workwear headwear for a growing industrial city.
Harold Koch took over in 1953 and steered the company toward baseball, beginning a relationship with the Cleveland Indians and other clubs. His son David Koch modernized production through the 1980s and 1990s, and in 1993 New Era won the exclusive license to produce on-field caps for every Major League Baseball team, a position it still holds.
The 59Fifty fitted cap, the flat-brimmed, structured-crown model designed in 1954, became a cultural object far beyond baseball. Hip-hop adoption in the 1990s and 2000s turned the flag logo on the side of the crown into a status symbol, and New Era learned to sell the same cap as both equipment and fashion.
Chris Koch expanded the licensing empire after becoming CEO in 2001. New Era took the exclusive NFL sideline cap rights in 2012 and added the NBA on-court rights, plus hundreds of licenses across soccer clubs, motorsport, entertainment, and fashion collaborations. A limited-edition collaboration with Spike Lee in 1996 pioneered the sports cap as a fashion collectible, a formula now central to the business with weekly drops.
In 2019 the company closed its last large US plant in Derby, New York, moving most production overseas while keeping a Miami, Florida facility for MLB on-field caps. The August 2024 acquisition of '47, the Boston-based rival founded by the D'Angelo family, consolidated the two largest licensed headwear brands under one roof.
Who owns New Era Cap?
The Koch family controls New Era Cap, LLC, with fourth-generation Chris Koch as CEO. ACON Investments holds a significant minority stake, and MLB, the NFL, and the NBA hold small equity positions.
Is New Era publicly traded?
No. The company explored an IPO reportedly targeting a $4 to $5 billion valuation in 2023 but remains privately held.
When was New Era founded?
Ehrhardt Koch founded the company in Buffalo, New York, in 1920 as the E. Koch Cap Company, renamed New Era Cap in 1921.
Does New Era own '47?
Yes. New Era completed the acquisition of '47 in August 2024, creating a combined company generating approximately $2 billion in annual revenue while operating both brands independently.
What leagues does New Era supply?
New Era is the official on-field cap of Major League Baseball since 1993, holds exclusive NFL sideline cap rights since 2012, and holds NBA headwear rights, plus hundreds of additional licenses across global sports and entertainment.
Where are New Era caps made?
Most production is contracted to factories in Vietnam, China, and Bangladesh. MLB on-field caps are made at the company's Miami, Florida facility.
New Era's sustainability profile is modest and typical of licensed apparel. The company has introduced recycled and responsibly sourced materials in portions of its range and operates a take-back recycling program for caps in some markets, but it holds no B Corp certification and publishes limited standalone sustainability reporting.
Labor standards across its Asian contract factories follow the industry norm of supplier codes of conduct and third-party audits. The company's most material ethics disclosures concern its sports league partnerships, which carry their own labor and community obligations under licensing agreements.
New Era's most durable recognition is the product itself: the 59Fifty is the only cap designated as official on-field equipment by a major professional sports league, and its silhouette has been exhibited as a design icon in museum and fashion contexts. The brand's collaborations with designers and artists regularly appear in fashion press best-of coverage, and it holds a unique position as the official cap of MLB, the NFL, and the NBA simultaneously, a licensing trifecta no competitor has matched.
New Era has faced periodic criticism for factory closures. The 2019 shutdown of its Derby, New York plant eliminated more than 200 union jobs in the Buffalo area, drawing political criticism at the time given the company's local identity; the company cited the need to consolidate production and retained the Miami facility for MLB caps.
Counterfeiting is an ongoing enforcement issue rather than a controversy: the brand's logo recognition makes it one of the most faked products in sportswear, and New Era maintains active legal and customs enforcement programs against knockoffs.
Fan backlash has occasionally targeted exclusive licensing economics, where on-field cap prices have risen under the exclusive model, though no regulatory action has resulted.
No direct competitors found in the same category. This could be because New Era Capoperates in a unique market segment or we're still building our competitor database.
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