New Balance and Nike remain two of the most sought-after sports and activewear brands in the world. While Nike is promoted by some of the biggest athletes, New Balance has a special place in the hearts of hipsters and hip hop crowd.
Due to their popularity, many people wonder if New Balance is owned by Nike or not.
Is New Balance owned by Nike? New Balance is not owned by Nike. In fact, they are competitors. The New Balance brand is owned by Jim Davis, an American billionaire businessman whose family currently owns 95% of New Balance Inc.
In this post, we will explore everything you need to know about the New Balance brand’s ownership and some of the notable brands that Nike owns.
So if you’re a New Balance fan or a sneaker fan in general, sit back, relax, and learn more about the man (and company) behind the popular brand.
How to Break in Blundstone Boots Qu...How to Break in Blundstone Boots QuicklyWho Is New Balance Owned By?
Today, New Balance is owned by Jim Davis. Not only is Jim Davis the chairman of New Balance, but his wife Anna has served as the vice-chairman of the company since 1977.
According to Forbes, Jim Davis and his family own approximately 95% of the private company, New Balance Inc.
It was on the day of the 1972 Boston Marathon when Jim Davis bought the company.
During that time, there were only six people in the company, with only 30 pairs of shoes made daily, most of which were sold via mail-order. Jim Davis acquired the small Boston shoemaker in 1972 and turned it into the New Balance.
The timing was perfect because running was booming in Boston in the 1970s.
After acquiring New Balance, Jim Davis focuses on high-quality products and excellent customer service. Together with his wife Anna, they committed themselves to create a unique culture for New Balance customers and employees.
Slowly but surely, the New Balance product line expanded, growing into a global company. Jim Davis grew the small Boston shoemaker into the giant sports brand we all know today.
In 2018, New Balance recorded estimated sales of $4.5 billion and employs approximately 5,497 people worldwide.
Is New Balance Black-Owned?
New Balance is not black-owned. The current owner of New Balance, Jim Davis, is an American businessman who is the son of Greek immigrants.
The original founder of New Balance, William J. Riley, who founded the company in 1906, is an Irish immigrant. He founded New Balance Arch Support Company in the Boston area.
While New Balance is not black-owned, they do support Black Lives Matter.
In support of Black Community causes, New Balance has advocated for “peaceful action” in response to George Floyd’s death and has donated 10,000 pairs of running shoes to the Black community in memory of Ahmaud Arbery.
It just goes to show how much the New Balance brand believes that no one in the Black community should fear for their lives while running.
What Company Owns New Balance?
The New Balance brand is owned by New Balance Inc., a holding company that also owns the multinational corporation New Balance Athletics Inc.
The company is owned by Jim Davis and is headquartered in Boston, Massachusetts. It also owns PF Flyers lifestyle shoes and Warrior Sports brands.
In addition to producing its own line of New Balance products, New Balance owns the Rockport Group, home to the Aravon, Dunham, and Rockport brands, including the Rockport Cobb Hill Collection. New Balance acquired the Rockport Company from Adidas in 2015.
Are Nike and New Balance the Same Company?
New Balance and Nike are not the same company.
The New Balance brand is owned by New Balance Inc., a company owned by Jim Davis headquartered in Boston, Massachusetts. The Nike brand, on the other hand, is owned by Nike Inc., a company founded by Phil Knight headquartered in Beaverton, Oregon.
Does Nike Own New Balance?
So, does Nike own New Balance? Nike does not own New Balance.
In fact, Nike is one of New Balance’s biggest competitors. While Nike does not own New Balance, it does own several popular sports brands including Air Jordan and Converse. It also previously owned Cole Haan, Umbro, and Hurley.
What Brands Are Owned By Nike?
Nike has acquired many brands over the years, including luxury brands like Cole Haan. It even has parted ways with some of them. Now that you know that Nike does not own New Balance, you may be wondering what other brands does Nike owns.
Here are three popular sports brands owned by Nike:
1. Air Jordan
In 1984, Michael Jordan signed a deal with Nike. The Jordan brand started as part of the Nike brand but grew into becoming its own brand.
Today, Nike owns the Air Jordan brand but the athlete behind it all, Michael Jordan, still gets a percentage of the revenue. He has made over $1 billion from Nike.
Not many sneaker enthusiasts may know this, but the brand behind the classic Chuck Taylor All-Stars was bought by Nike for $305 million.
The Converse brand started in 1908 and became a subsidiary of Nike in 2003. Apart from shoes, Nike expanded the Converse brand to other businesses, just like its other brands.
Nike has acquired Hurley, the popular surf apparel brand, in 2002 for an undisclosed amount. However, it lasted only 17 years as Nike sold Hurley to Bluestar Alliance in 2019.
Nike is saying farewell to the brand as surfwear and beach-based apparel struggle to find consumers. Bluestar, however, has big plans for Hurley.
And there you have it, the complete answer to the question: is New Balance owned by Nike?
Both New Balance and Nike remain two of the most popular sports brands, and both will continue to compete and provide their customers with the best activewear products possible.
You may also want to read: