Today, New Balance employs about 2,000 people worldwide, including 1,200 manufacturing associates in five U.S. plants which are located in Boston and Lawrence, Massachusetts, Norridgewock, Skowhegan and Norway, Maine. Annual revenue for the company hit the $1 billion mark in 2000. New Balance is still a privately held company and it has remained committed to its original strengths, including width-sizing, U.S. manufacturing and grassroots promotions. A large part of New Balance's marketing strategy is based on their support of athletics. The company sponsors the LaSalle Banks Chicago Marathon, the New Balance Maine Distance Festival, the Lilac Bloomsday Run, the New Balance Games and the Great Cow Harbor 10K. New Balance has become a national sponsor of the Susan G. Komen Foundation's Race for the Cure of Breast Cancer. It is also a generous contributor to various charities in Boston and other cities in which New Balance facilities are located. In 1998 New Balance purchased Dunham Bootmakers to expand into the outdoor market and in 2001, they acquired the classic PF Flyers to provide for the comfort casual market. New Balance is headed by Jim Davis and his wife Anne.
New Balance has positioned themselves as the "anti-Nike" and as such follows the philosophy of "Endorsed by No one." New Balance products do not come with celebrity or sports endorsements and much of the advertising is still done by word of mouth recommendations. New Balance sums their "Endorsed by No one" philosophy by stating,
"Which would you prefer? Athletic shoes built around the belief that the marketing prowess of an NBA superstar can sell anything? Or athletic shoes built around the belief that better fit and technology mean better performance?"
"We prefer the latter; that's why we adhere to a unique "Endorsed By No One™" philosophy. Instead of paying celebrities to tell you how great our products are, we invest in research, design, and domestic manufacturing and let our products speak for themselves. By adhering to this philosophy, we are able to celebrate the true stars: every day athletes who choose New Balance footwear and apparel because they fit and because they perform."
This function over fashion approach has successfully gained New Balance shoes a solid reputation for quality and performance, boosting the brand to 5th place in the world market.
