New Balance Athletics, Inc.

Is New Balance publicly traded?
No, New Balance Athletics, Inc. is a privately held company owned by the Davis family. The company is not listed on any stock exchange and does not file financial reports with the SEC. Jim Davis purchased the company in 1972 for $100,000 and has maintained family ownership since then.

Who owns New Balance?
New Balance is owned by the Davis family. Jim Davis purchased the company in 1972 for $100,000 on the day of the Boston Marathon. At the time, the company had six employees and produced approximately 30 pairs of shoes per day. Davis built New Balance into a global brand with approximately $8 billion in annual revenue. He serves as Chairman, while Joe Preston serves as CEO.

What is New Balance's annual revenue?
New Balance reported approximately $8 billion in revenue for 2024, making it the largest privately held sneaker company in the world. Revenue increased approximately 27% from 2022 to 2024, driven by lifestyle product trends, athlete partnerships, and international expansion. The company does not publicly disclose detailed financial results as a private company.

Where is New Balance manufactured?
New Balance is the only major sneaker company that manufactures significant volumes in the United States and United Kingdom. The company operates five factories in Massachusetts and Maine in the United States and one factory in Flimby, England. These factories produce premium footwear, including the Made in USA 990 series and Made in UK models. Additional production occurs in Vietnam and China for higher-volume models.

What athletes does New Balance sponsor?
New Balance sponsors world-class athletes across multiple sports, including Shohei Ohtani (MLB baseball), Coco Gauff (tennis), Kawhi Leonard (NBA basketball), Sadio Mane (soccer), and others. The company has used athlete partnerships to build credibility in performance markets and drive brand awareness among younger consumers.

When was New Balance founded?
New Balance was founded in 1906 by William J. Riley in Boston, Massachusetts, as the New Balance Arch Support Company. Riley initially manufactured arch supports and orthopedic shoes. The company's name was inspired by Riley's observation of chickens' three-toed feet, which provided perfect balance. Jim Davis purchased the company in 1972 and transformed it into a global athletic footwear brand.

What are New Balance's most popular shoes?
New Balance's most popular models include the 990 series (a premium Made in USA sneaker), the 574 (a versatile retro runner), the 327 (a 1970s-inspired lifestyle shoe), the 2002R (a 2010s-inspired runner), the 550 (a retro basketball shoe), and the 9060 (a modern lifestyle runner). The company's lifestyle category has grown significantly in recent years, driven by the popularity of retro running silhouettes.

Who is the CEO of New Balance?
Joe Preston serves as President and CEO of New Balance Athletics, Inc. He was appointed to the role in 2015, succeeding Rob DeMartini. Preston has been with New Balance for more than 25 years, previously serving as Chief Operating Officer and holding leadership roles in product, marketing, and international operations. Jim Davis serves as Chairman.

New Balance was founded in 1906 by William J. Riley, a British immigrant who settled in Boston, Massachusetts. Riley established the New Balance Arch Support Company, initially manufacturing arch supports and orthopedic shoes designed to provide comfort and support. The company's name was inspired by Riley's observation of chickens in his yard, whose three-toed feet provided perfect balance. He applied this principle to his arch support designs, which featured a triangular support point.

For decades, New Balance remained a small, regional company focused on orthopedic and specialty footwear. The company produced custom shoes for police officers, waiters, and other professionals who spent long hours on their feet. In 1938, Riley hired Arthur Hall, who became a key figure in the company's early growth. Hall eventually purchased the company from Riley in 1956.

The company's transformation began in 1961 when New Balance introduced the Trackster, the first running shoe made in multiple widths. The Trackster became popular among college track teams and running enthusiasts, establishing New Balance's reputation in the running market. The multiple-width fitting system became a defining feature of New Balance footwear and remains a competitive advantage today.

In 1972, Jim Davis purchased New Balance for $100,000 on the day of the Boston Marathon. At the time, the company had six employees and was producing approximately 30 pairs of shoes per day. Davis recognized the potential of the running market, which was experiencing rapid growth as jogging became a popular fitness activity in the United States.

Under Davis's leadership, New Balance focused on performance running shoes, building a reputation for quality, fit, and comfort. The company expanded its product line and distribution, targeting specialty running stores rather than mass-market retailers. This strategy helped New Balance build credibility among serious runners and differentiate itself from competitors.

In the 1980s, New Balance introduced several iconic models that would define the brand for decades. The 990, introduced in 1982, was the first running shoe to retail for $100, establishing New Balance as a premium brand. The 990 became a cultural icon, worn by athletes, celebrities, and everyday consumers. The 574, introduced in 1988, became one of the best-selling New Balance models of all time, known for its versatile design and comfort.

Throughout the 1990s and 2000s, New Balance maintained its focus on performance running while expanding into other sports. The company invested in technology, introducing cushioning systems including ABZORB, N-ergy, and Fresh Foam. New Balance also expanded internationally, establishing distribution networks in Europe, Asia, and Latin America.

In 2015, Joe Preston was appointed CEO, succeeding Rob DeMartini. Preston, a long-time New Balance executive, brought deep product and operational knowledge to the role. Jim Davis transitioned to Chairman but remains actively involved in the company.

In the late 2010s and 2020s, New Balance experienced a resurgence in the lifestyle category. The popularity of retro running silhouettes, particularly the 990, 574, and 327 models, drove growth among younger consumers. The "dad shoe" trend, which celebrated chunky, retro-inspired footwear, played to New Balance's strengths as a heritage brand with authentic running credentials.

New Balance also expanded its athlete portfolio significantly. In 2018, the company signed Kawhi Leonard to a basketball endorsement deal, marking its entry into the premium basketball market. In 2022, New Balance signed Coco Gauff, the young American tennis star, to a long-term partnership. In 2023, the company signed Shohei Ohtani, the Japanese baseball phenomenon, to a major endorsement deal that included both footwear and apparel.

In 2024, New Balance continued its growth trajectory, reporting approximately $8 billion in revenue. The company expanded its manufacturing capabilities, opened new retail stores, and invested in sustainability initiatives. New Balance also became the on-and-off field apparel supplier for the National Rugby League (NRL), expanding its presence in rugby and Australian sports.

In 2025, New Balance released limited-edition collaborations with Shohei Ohtani, including Japan-made cotton T-shirts, and continued to expand its global retail footprint. The company opened new flagship stores in key markets including Tokyo, London, and New York, and invested in direct-to-consumer channels.

New Balance has faced several controversies over the years, though fewer than its larger publicly traded competitors.

In 2016, a New Balance executive made comments following the U.S. presidential election that were interpreted as supportive of Donald Trump's trade policies, leading to calls for a boycott from some consumers and support from others. The company clarified that the comments were related to trade policy and the Trans-Pacific Partnership, not an endorsement of any candidate. The incident highlighted the risks of corporate political engagement for consumer brands.

New Balance has faced scrutiny over its manufacturing practices in Asia. While the company is known for its domestic manufacturing in the United States and United Kingdom, a significant portion of its production occurs in Vietnam and China. Labor rights organizations have called for greater transparency in supply chain practices across the athletic footwear industry, and New Balance has participated in industry initiatives to improve working conditions.

The company has also faced challenges related to its private ownership structure. Critics have noted that private companies face less scrutiny and transparency requirements than publicly traded companies, potentially limiting accountability on issues including labor practices, environmental impact, and corporate governance. New Balance has responded by publishing sustainability reports and participating in industry transparency initiatives.

Jim Davis's service as a United States Senator from Alabama from 2019 to 2025 created a unique situation for a major company owner. While Davis stepped back from day-to-day management during his Senate tenure, his continued ownership of New Balance while serving in public office raised questions about potential conflicts of interest, particularly on legislation affecting the footwear industry, trade policy, and manufacturing.

New Balance has been involved in intellectual property disputes, including lawsuits over shoe designs and technologies. The company has both initiated and defended against patent and trademark claims, as is common in the highly competitive athletic footwear industry.