New Balance made headlines on Tuesday with the announcement of a multiyear deal with the WNBA, solidifying its position as an official partner of the league. This partnership will involve collaboration on broadcast, digital, and retail content, with a focus on featuring Los Angeles Sparks’ rookie forward, Cameron Brink. By joining forces with the WNBA, New Balance joins the ranks of other major brands like Adidas, Nike, Puma, and Under Armour.
Jessica Vassall, the global head of partnerships for New Balance, expressed excitement about the opportunity to contribute to the growth and progress of achieving parity in women’s sports. The company’s aim to expand its presence in basketball and become a leader in women’s sports aligns with its mission to support and empower female athletes. The recent signing of Cameron Brink, a standout player from Stanford University, as the first female basketball player on the New Balance roster underscores this commitment.
Despite suffering a season-ending ACL tear in June, Brink remains an integral part of New Balance’s plans. The company intends to feature her in various lifestyle and performance campaigns, as well as involve her in product development initiatives. This move highlights New Balance’s dedication to supporting and empowering female athletes, even in the face of setbacks.
Expanding into Women’s Basketball Market
While established brands like Nike, Jordan Brand, Adidas, Puma, and Under Armour currently dominate the women’s basketball market, New Balance aims to carve out a significant presence in this space. Market research suggests that women’s basketball is a growing sector, with sales on the rise compared to men’s basketball sneakers. By diversifying its offerings and expanding into new sports like tennis and baseball, New Balance is positioning itself as a key player in the evolving landscape of women’s sports.
Global Growth and Expansion
New Balance’s recent financial success, with $6.5 billion in sales last year and a 23% increase from the previous year, reflects its strong position in the market. The brand’s double-digit growth in footwear and apparel globally over the past three years underscores its appeal to consumers worldwide. Foot Locker CEO Mary Dillon praised New Balance’s ability to drive consumer excitement and expand its footprint, with plans to open 90 new stores in 2024.
Rising Popularity of Women’s Sports
Amid the growing popularity of women’s sports, the WNBA has seen a surge in viewership and attendance, driven in part by rising stars like Caitlin Clark of the Indiana Fever. The league’s average viewership of 1.2 million per game and a 16% increase in attendance from last season signal a promising trajectory for women’s sports. With an influx of fans and partners, the WNBA is poised to create a sustainable economic model that will ensure long-term success.
New Balance’s partnership with the WNBA represents a significant step towards expanding its presence in women’s sports and supporting female athletes on a global scale. By embracing diversity, empowerment, and innovation, New Balance is setting the stage for a new era of growth and success in the world of sports.