New Balance announced a new multiyear deal with the WNBA, signaling its commitment to women’s sports. This partnership will make New Balance an official partner of the WNBA, adding to a growing list of backers for the league. The deal includes broadcast, digital, and retail content featuring Los Angeles Sparks rookie forward Cameron Brink. This move positions New Balance alongside other major players in the industry such as Adidas, Nike, Puma, and Under Armour, who are also league partners. While financial terms of the deal remain undisclosed, the agreement comes at a time when New Balance is looking to increase its share in the basketball market and establish itself as a leader in women’s sports.
Jessica Vassall, the global head of partnerships for New Balance, expressed excitement about the opportunity to contribute to the growth and progress of women’s sports. This partnership represents a significant milestone for New Balance, which only a year ago signed Cameron Brink, marking her as the first female basketball player on the brand’s roster. Despite Brink’s season-ending injury, New Balance plans to feature her in various lifestyle and performance campaigns, as well as involve her in the development of future products. This move aligns with New Balance’s strategic vision to diversify its portfolio and expand its presence in different sports beyond its traditional focus on running and walking.
While major brands like Nike, Jordan Brand, Adidas, Puma, and Under Armour dominate the women’s basketball market, there is still significant room for growth. Women’s basketball currently represents only 6% of the total pro market, according to market research firm Circana. However, the industry is experiencing a shift, with women’s basketball sneakers showing double-digit sales growth compared to declining sales in men’s basketball footwear. Beth Goldstein, a footwear industry analyst at Circana, highlighted New Balance’s ability to expand into new sports categories successfully, citing their partnerships with tennis player Coco Gauff and baseball player Shohei Ohtani. This diversification strategy has proven successful for New Balance, with the company reporting a 23% increase in sales in the past year.
New Balance’s success in the market has not gone unnoticed by industry experts. Mary Dillon, CEO of Foot Locker, commended the brand’s growth and consumer appeal, praising their ability to resonate with a diverse audience. With plans to open 90 new stores in 2024, New Balance is poised to continue its expansion and capitalize on the momentum in the women’s sports category. Colie Edison, chief growth officer for the WNBA, highlighted the league’s growth trajectory, fueled by the increasing popularity of rising stars like Caitlin Clark. The WNBA has seen a 16% increase in attendance and now averages 1.2 million viewers per game, setting the stage for long-term business sustainability and economic growth.
New Balance’s partnership with the WNBA marks a significant step towards establishing a stronger presence in women’s sports. By aligning with a rapidly growing league and investing in rising stars, New Balance is positioning itself for success in the evolving sports industry landscape. As the demand for women’s sports continues to rise, New Balance’s strategic move underscores its commitment to inclusivity, diversity, and growth in the sports market.