New Balance recently announced a multiyear partnership with the WNBA, joining other major brands in supporting women’s sports. This agreement will make New Balance an official partner of the WNBA and include various forms of marketing and advertising, featuring Los Angeles Sparks rookie forward Cameron Brink. This partnership solidifies New Balance’s commitment to expanding into the basketball market and becoming a leader in women’s sports. Financial details of the deal were not disclosed.
Jessica Vassall, global head of partnerships for New Balance, expressed excitement about playing a role in promoting gender equality in sports through this partnership with the WNBA. The brand aims to increase its presence in basketball and showcase its dedication to supporting female athletes. New Balance has been making significant strides in the sports industry, as evident by their partnership with various NBA stars and now with WNBA players like Cameron Brink.
New Balance’s partnership with the WNBA highlights the brand’s efforts to diversify its sports portfolio and capture a larger market share. While known for running, walking, and training footwear, New Balance has successfully entered other sports, such as tennis and baseball. By representing top athletes like Coco Gauff and Shohei Ohtani, New Balance is showcasing its ability to excel in a variety of sports categories.
Despite facing competition from other major brands like Nike, Jordan Brand, Adidas, Puma, and Under Armour in the women’s basketball market, New Balance has demonstrated impressive growth. The company reported $6.5 billion in sales last year, with a 23% increase from the previous year. This growth is a result of New Balance’s consistent efforts to appeal to a diverse consumer base and offer innovative products that resonate with customers.
The increasing viewership and attendance in women’s sports, particularly in the WNBA, are contributing to the positive momentum of the industry. With rising stars like Caitlin Clark boosting interest in women’s basketball, the WNBA has seen a 16% increase in attendance from the previous season. This growth in fan engagement and partnerships is paving the way for a sustainable business model for the league, as highlighted by Colie Edison, chief growth officer for the WNBA.
Overall, New Balance’s partnership with the WNBA signals a significant step towards supporting women’s sports and promoting gender equality in the sports industry. By aligning with top athletes and investing in marketing initiatives, New Balance is positioning itself as a key player in the women’s sports category. As the popularity of women’s sports continues to rise, partnerships like this will play a crucial role in driving the success and growth of the industry.
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