New Balance Joins WNBA as Official Partner, Focusing on Women’s Sports
New Balance has recently announced a multiyear deal with the WNBA, solidifying its commitment to women’s sports. As part of the agreement, New Balance will become an official partner of the WNBA and will have the opportunity to feature Los Angeles Sparks rookie forward, Cameron Brink, in their broadcast, digital, and retail content. This partnership adds New Balance to the list of league partners, which includes Adidas, Nike, Puma, and Under Armour. While the WNBA does not have an exclusive footwear partner, only league sponsors are permitted to display their logos on the court.
The decision to partner with the WNBA aligns with New Balance’s goal of expanding its presence in basketball and becoming a leader in women’s sports. Jessica Vassall, the global head of partnerships for New Balance, expressed her excitement about playing a role in advancing parity in women’s sports. This move by New Balance reflects the company’s dedication to supporting female athletes and promoting gender equality in sports.
New Balance’s focus on women’s sports is further evidenced by their signing of Cameron Brink as their first female basketball player last year. Brink, a former star at Stanford University, chose New Balance despite her parents’ long history with Nike. Brink explained that she felt like family with New Balance and appreciated the supportive environment they offered. Unfortunately, Brink suffered a season-ending ACL tear in June, which will force her to miss the rest of the 2024 season and the Paris Olympics as she undergoes rehabilitation. However, New Balance plans to feature Brink in various lifestyle and performance campaigns and collaborate with her to influence future products.
While Nike, Jordan Brand, Adidas, Puma, and Under Armour currently dominate the women’s basketball market, it remains a small portion of the overall professional market, accounting for just 6%. However, men’s basketball sneakers have seen a decline in sales, while the women’s business has experienced double-digit growth. Beth Goldstein, a footwear industry analyst at Circana, noted that New Balance has proven its ability to enter new sports successfully, such as tennis and baseball. With their expansion into women’s sports, New Balance aims to capture a larger share of the market and continue their impressive growth trajectory.
New Balance’s success in recent years is evident in their financial performance. The company reported $6.5 billion in sales in 2023, a 23% increase from the previous year. Over the past three years, New Balance has achieved double-digit growth globally in both footwear and apparel. Mary Dillon, CEO of Foot Locker, praised the brand’s ability to generate consumer excitement, particularly among women, men, and children. With plans to open 90 new stores in 2024, New Balance is expanding its retail footprint to meet growing demand.
The partnership with the WNBA comes at an opportune time for New Balance. The league is experiencing increased popularity, thanks in part to rising stars like Caitlin Clark of the Indiana Fever. The WNBA now averages 1.2 million viewers per game, with a 16% increase in attendance compared to the previous season. Colie Edison, chief growth officer for the WNBA, believes that the influx of fans and partners will contribute to the long-term business sustainability of the league. This presents a unique opportunity for New Balance to leverage the growing excitement and economic potential of women’s sports.
In conclusion, New Balance’s partnership with the WNBA demonstrates their commitment to women’s sports and their ambition to become a leader in the industry. By featuring Cameron Brink and aligning themselves with the rising popularity of the WNBA, New Balance aims to capture a larger share of the women’s basketball market. With their impressive financial growth and expansion plans, New Balance is well-positioned to make a significant impact in the world of sports and continue to drive consumer excitement.
