New Balance declares record sales in 2024

The company hopes to reach global sales of USD ten billion within a few years.

Global sales for athletic footwear producer New Balance reached USD 7.8 billion in 2024, which was a 20 per cent increase over the previous year’s annual figure. Chief executive Joe Preston is said to be expecting the Boston, USA-based company to reach USD ten billion in sales “within a few years.”

Key drivers behind the company’s success last year reportedly include the development of strong retail partnerships and an enhanced digital engagement, which resulted in traffic to the company’s website hitting its strongest point in five years. A shift in market share has been suggested as the reason for New Balance attracting new customers and a younger target sector.

“We are a premium brand – that’s the way we are positioning our brand,” commented Mr Preston, adding: “that’s the way our brand has evolved, particularly over the last six years.

“We practice selective distribution,” he stated about the company’s distribution strategy. We’re not everywhere... we do business with retailers that we believe are going to want to position the brand premium and are not just in it to try to discount it.”

Publishing Data

This article was originally published on page 2 of the February 2025 issue of SATRA Bulletin.

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