By Okon Ekpenyong

New Balance Athletics Inc. has undergone a remarkable transformation, evolving into a modern powerhouse while maintaining its 118-year heritage. Under the leadership of President and CEO Joe Preston, the company focuses on a community-based drive, ensuring that it connects with emerging generations while still making sure that it continues to appeal to its core running consumers.

In a conversation with Brad Smith at the 2025 National Retail Federation Retail Big Show, Anchor with Yahoo! Finance, Preston discussed the strategies behind New Balance’s remarkable evolution, which has sparked and sustained global growth while capturing consumer attention.

He emphasized the importance of selective distribution to ensure the brand is presented as premium. He highlighted the company’s focus on understanding local markets while maintaining a global perspective.

In recent years, New Balance has seen significant growth, with a 20% increase in sales in 2024, reaching $7.8 billion. The company’s average selling price has risen, exceeding $80 globally, a testament to its successful repositioning as a premium brand. This growth is attributed to a focus on selective distribution and higher average selling prices, a strategy that has resonated with consumers.

The goal is to work with Athletes who want to grow their community by giving back; therefore, Preston shares that the current New Balance strategy regarding athlete partnerships focuses on this initiative while emphasizing the importance of aligning with athletes who share the company’s values.

The brand has collaborated with top athletes like Sydney McLaughlin and Coco Gauff, achieving notable success in the Olympics and other major sporting events.

New Balance is committed to repositioning itself to capitalize on emerging trends as the sports landscape evolves. Preston highlighted the company’s ability to adapt to changing consumer preferences, citing the rise of pickleball and the reinvention of traditional sports. This adaptability ensures that New Balance remains at the forefront of the industry, ready to meet the needs of its consumers.

Preston stressed the importance of thinking “globally” while acting locally regarding global market dynamics. New Balance has a significant international presence, with approximately 60% of its business coming from outside the United States. The company operates in over 120 countries, with a strong focus on key markets such as China, Europe, and Latin America. He highlighted the company’s capability to balance global and local perspectives, creating a cohesive strategy that can be executed worldwide.

“Over the past four years, the company’s yearly sales have exceeded $7.7 billion,” Preston says. Looking ahead, Preston expresses confidence that New Balance has the ability to continue driving growth and reach its target goal of $10 billion in annual sales.

Finally, New Balance’s CEO reiterates the company’s goal to enhance its premium brand positioning. By maintaining selective distribution and continuing partnerships with athletes, New Balance is poised for long-term success. Preston’s optimism about the brand’s growth and innovation opportunities is a testament to the company’s bright future.

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