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New Balance’s $10 Billion Plan

As the brand races to hit eleven-digit annual sales, CEO Joe Preston opens up for The State of Fashion 2025 about what New Balance is doing that its rivals aren’t, the company’s unique approach to brand and athlete partnerships and how it plans to stay ahead in the innovation battle.
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New Balance president and CEO Joe Preston opens up about the brand's race to $10 billion. (New Balance)
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BoF PROFESSIONAL

When thinking about challenger brands in the sneaker market, New Balance might not be the first name that comes to mind. The 117-year-old company predates upstarts like Swiss running brand On and Deckers-owned running label Hoka by more than a century.

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Further Reading

The State of Fashion 2025: Challenges at Every Turn

The ninth annual State of Fashion report by McKinsey & Company and BoF Insights, The Business of Fashion’s data and advisory team, reveals that economic and geopolitical challenges, combined with shifts in customer values, will define a turbulent year ahead. Download the full report to understand the 10 themes that will shape the industry and the opportunities for growth in 2025.

Sportswear Is Set for an Epic Showdown in 2025

The battle between challenger brands and incumbents is only set to intensify, pushing each camp to develop more innovative products and devise creative new ways to reach shoppers and tell their stories, according to the BoF-McKinsey State of Fashion 2025.

About the author
Daniel-Yaw Miller

Daniel-Yaw Miller is a contributing writer at The Business of Fashion. Miller is a New York based journalist, editor and advisor who specialises in sports, fashion and business.

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