Joe Preston’s Post

Thank you to Sara Eisen and David Faber from CNBC today for discussing our brand’s exciting new partnership with the WNBA (Women's National Basketball Association). Together, we will continue to push the boundaries of sport and empower female athletes.    New Balance athlete and Los Angeles Sparks rookie forward Cameron Brink will be at the forefront of our work with the WNBA. She is an incredible athlete who is transcending women’s basketball and inspiring young players to overcome obstacles and pursue their dreams on and off the court.   This relationship is a noteworthy progression of New Balance’s commitment to driving youth and community engagement in global sport across basketball, soccer, baseball, football and running, and comes at the perfect time. We’re proud to showcase our world-class athletes and product innovation during what is clearly a big summer for sport!   The strength of our brand momentum and market share gains – fueled by our OneNB team culture and relentless focus on innovation and operational excellence – has positioned us well heading into the back-to-school season.  

A core component of our brand purpose and culture at New Balance is showing up for the communities where we live and work – and last week was no exception. Despite the summer heat, we celebrated sports and service in two of our U.S. communities.   Boston Scores, an innovative youth development program that focuses on soccer, poetry, and service learning, unveiled their new soccer and recreation complex in East Boston, made possible in part by a $1M donation from New Balance Foundation. The ribbon-cutting event included community leaders, their 2024 poet athlete and activities for 150 local youth.   On the same day in Maine, New Balance associates teamed up with University of Maine Athletics coaches, administrators and student athletes for a special Community Service Day at the Skowhegan Community Center. With support from New Balance Foundation grantee, Move More Kids, 200 K-12 kids from area recreation programs enjoyed sports activities filled with movement and fun.   I’m immensely proud of our dedication to giving back and collaborating with great community partners to inspire active lifestyles while making a positive difference in our communities!  

I am thrilled to celebrate Team New Balance U.S. athlete Sydney McLaughlin-Levrone as she broke yet another world record for the 400-meter hurdles yesterday during the Track and Field Trials finale.  50.65 seconds is an amazing time, and I can’t wait to see her shine alongside our many other brand athletes competing later this season! #WeGotNow  

I recently joined Shawn Osborne for the Two Ten Footwear Foundation Gala to celebrate 85 years of their tremendous service to our footwear community.  The idea of “shoe people helping shoe people” inspired Two Ten’s founding in the wake of the Great Depression. The organization took its name from 210 Lincoln Street in Boston where industry members first met to pass the hat and help colleagues in need.    Eighty-five years later, Two Ten still represents hope in hard times and the opportunity to rise as a truly unique resource, funded by our industry for the benefit of those who work in our industry. Thanks to the generosity of its supporters, Two Ten offers lifelines to footwear families experiencing disaster or hardship, providing emergency financial assistance, counseling and other resources to help stabilize households in crisis. Two Ten also provides footwear employees life-changing programs including college scholarships, upskilling grants, networking and professional development opportunities.    I am honored to serve as Two Ten’s Board Chair and encourage everyone in our industry to support and engage in the opportunities that Two Ten represents. Thank you to the Two Ten team and all those who contribute to their empowering work!  

This past weekend I was privileged to join President E. LaBrent Chrite to give Bentley University's keynote address at their 2024 commencement ceremony.    The Class of 2024 is like no other and deserves to be recognized. They ended high school and entered college during such uncertain times. What they have endured and accomplished says a lot about their potential — certainly as business leaders and most importantly as people. Despite many challenges, they achieved their goal of graduation and are ready for their next chapter.    Congratulations Class of 2024! 

It started with the introduction of the 990 back in 1982. The industry’s first $100 running shoe. We introduced the color Grey intentionally, in recognition of its versatility, classic style, and the concrete and asphalt urban running scene that took off during that time period.     Since then, Grey has proven to be a perfect complement to our independent and timeless brand expressions across our athletic and lifestyle performance and footwear products. While the product models and technology have changed, Grey continues to embody New Balance’s heritage and future.    As we celebrate New Balance Grey Days globally throughout May, we are proud to reflect on our unique brand legacy through the lens of our signature color.  

This month I had the honor of joining Rachel Flor, Executive Director of the John F. Kennedy Library Foundation, to celebrate the naturalization of nearly 200 new U.S. citizens at the John F. Kennedy Presidential Library in Boston.  As a second generation American, I understand having hopes and dreams of a better life, and the resilience and commitment needed to see those dreams come to fruition.     The Naturalization Ceremony marks the beginning of a new chapter of opportunity and also responsibility. As President Kennedy said, “One person can make a difference and every person should try.” This quote is a source of inspiration for me and a reminder of my responsibility to make our country a better place. Congratulations to my fellow citizens!

Thank you to Brad Smith and the Yahoo Finance team for visiting us for a two-day immersion in all things New Balance. As we focus on driving innovation, digital transformation and retail insights to advance our global business momentum, we are leaning into our strong OneNB purpose-based culture, our long-standing commitment to domestic manufacturing, and our talented brand ambassadors. Thank you also to our New Balance associates in Boston and Lawrence who helped demonstrate our company’s entrepreneurial and collaborative spirit. 

Baseball’s Opening Day is always exciting, and this season, New Balance is proud to sponsor many talented Major League Baseball (MLB) athletes, including two-time American League MVP Shohei Ohtani. #WeGotNow.

2023 was another strong year for the New Balance brand. We achieved $6.5 billion in annual sales, up 23% from 2022, with double-digit growth and market share gains across every global market driven by our OneNB culture of innovation and teamwork. Our global apparel business topped $1 billion and remains a priority focus in 2024.     We drove sales with global key accounts and independent specialty retailers along with our direct-to-consumer business. This combination allows us to get closer to our consumer’s shopping needs, a big driver of our success. We will expand our global retail footprint in 2024 with 90 new stores and 50 remodels based on the great results with our new community-focused design concept.   In 2023 we continued with record investments in our digital capabilities, brand campaigns and commitment to domestic manufacturing. We kicked off the expansion of our Skowhegan, Maine factory and began construction on our new U.S. factory in Londonderry, New Hampshire. We opened a state-of-the-art distribution center near Nashville, Tennessee to ensure world-class customer service. We cheered on our winning roster of talented and exciting brand athletes on pitches, fields, courts, tracks and race courses around the world.   Responsible leadership remained at the forefront as we published our first Sustainability & Impact Report. In 2024, we will increase our focus on renewable energy sources and already launched New Balance Reconsidered, our new resale platform.  Since 1981, New Balance Foundation has been dedicated to bringing about positive change in our global communities, and its efforts in 2023 included more than $10 million in grants distributed to 79 organizations.   As we move forward, we will stay true to who we are as we connect sport and culture and drive our product innovation and brand investments. We will continue to build best-in-class global operations and leverage our independent and entrepreneurial spirit toward another strong year.   This week I had the opportunity to join Romaine Bostick, CFA and Gina Martin Adams on Bloomberg Markets to discuss New Balance’s record-setting results in 2023 and our outlook for 2024.  There’s never been a better time to be at New Balance as we work together to bring our collective and intentional best every day. Congratulations to our entire NB team on these great results – I couldn’t be more proud!