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New Balance 23% Increase Revenue in 2023

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In 2023, New Balance thrived, boasting $6.5 billion in sales, a 23% surge from 2022. With double-digit growth globally, their OneNB culture fostered innovation and teamwork, enhancing market share across all regions. The global apparel sector surpassed $1 billion, prioritized for 2024.

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Sales surged through global key accounts, specialty retailers, and direct-to-consumer channels. Closer alignment with consumer needs fueled the brand’s triumph. Expanding with 90 new stores and 50 remodels in 2024 follows successful community-focused designs.

Record investments in digital capabilities and brand campaigns continued in 2023. Projects like expanding the Skowhegan, Maine factory and commencing construction in Londonderry, New Hampshire, unfolded. A new distribution hub near Nashville ensures top-notch customer service. New Balance celebrated its athletes worldwide.

Emphasizing responsible leadership, New Balance debuted its Sustainability & Impact Report. 2024 marks intensified focus on renewable energy and the launch of New Balance Reconsidered, a resale platform. Since 1981, the New Balance Foundation allocated over $10 million to 79 global organizations in 2023.

Looking ahead, New Balance vows to uphold its identity, merging sport and culture while driving innovation and investments. Strengthening global operations and embracing an independent ethos promises another stellar year. As New Balance charts its course, it remains committed to excellence and community impact.

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Mario Briguglio
Mario Briguglio
Founder and Editor in Chief. My passion for sneakers started at age 6 and now I've turned my passion into a profession. Favorite Kicks - Air Jordan 3 "Black Cement"

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