Athletic footwear brand New Balance reported $7.8 billion in global sales for 2024, a 20% increase from the previous year, according to media reports. This marks a record performance for the privately held Boston-based company, which selectively shares its financial results.
CEO Joe Preston expects the company to reach $10 billion in sales within a few years. New Balance's growth aligns with shifts in market dynamics, as competitors like Nike and Adidas see declining market share, creating opportunities for brands such as New Balance, Puma, and Asics.
Key drivers of the company’s success include strong retail partnerships and enhanced digital engagement.
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