New Balance Reports $7.8 Billion Sales in 2024

New Balance achieved record global sales of $7.8 billion in 2024, marking a 20% increase from the previous year, driven by strong demand for its lifestyle and running shoes. CEO Joe Preston announced this was the fourth consecutive year of over 20% growth, with a goal to reach $10 billion in annual sales in the next few years. The brand has successfully attracted younger consumers through strategic partnerships with athletes like Shohei Ohtani and Coco Gauff, and has leveraged digital engagement to boost visibility. Preston highlighted the importance of selective distribution to maintain brand integrity and avoid oversaturation. Despite its impressive growth, New Balance still trails behind industry giants Nike and Adidas in total sales, but is gaining market share as consumer preferences shift. The company's marketing efforts, including social media campaigns aimed at revitalizing its image, appear to be resonating with a broader audience, as indicated by a surge in search traffic during the holiday season.