who owns new balance sportswear

Who Owns New Balance ?

New Balance is a well-known gymwear brand that is known for its quality and comfort. But who owns this iconic company? In this article, we will delve into the history of New Balance and its ownership, including its humble beginnings, its evolution into a global brand, and its current ownership status.

The Humble Beginnings of New Balance

The roots of New Balance date back to the early 20th century in Boston, Massachusetts. The company was founded by William J. Riley, who started creating arch supports and other accessories to help people with foot problems. Riley noticed a gap in the market for shoes that catered specifically to athletes, so he began designing and manufacturing shoes that catered to the needs of runners.

The Evolution of New Balance

Throughout the 20th century, New Balance became known for its high-quality athletic shoes, particularly for runners. The company was an early pioneer of the concept of custom-fit shoes, where customers could order shoes in different sizes, widths, and levels of support, in order to cater to the unique needs of each athlete. This commitment to quality and customization helped to set New Balance apart from its competitors.

In the decades that followed, New Balance continued to innovate with new shoe designs and technologies, such as the popular New Balance 990, which was the first running shoe to cost over $100. The brand also expanded into other sports, including basketball, tennis, and training shoes.

Current Ownership of New Balance

Today, New Balance is owned by the New Balance Athletics, Inc. (NBAI), which is a private holding company headquartered in Boston. NBAI also owns several other sports-related brands, including Warrior Sports, Brine, and PF Flyers.

Despite being a private company, New Balance is still considered one of the largest gymwear companies in the world. According to Forbes, New Balance was the fifth-largest sports brand in 2021, earning an estimated $4.5 billion in revenue.

The Future of New Balance

So what does the future hold for New Balance? The company has continued to innovate in recent years, with new shoe designs that incorporate both style and function. For example, New Balances Fresh Foam technology provides plush cushioning for runners, while still maintaining a lightweight design.

Additionally, New Balance has embraced sustainability as a core value, with initiatives to reduce its carbon footprint and use environmentally-friendly materials in its products.

Conclusion

In conclusion, New Balance has come a long way from its humble beginnings as a supplier of orthopedic products. Today, the company is a global brand known for its high-quality athletic shoes and commitment to customization and sustainability. While the ownership of New Balance may have changed over the years, its dedication to innovation and excellence remains as strong as ever.

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