New Balance Signs Multi-Year Deal with the WNBA, Aiming to Capitalize on Growing Women’s Sports Market
New Balance, a brand known for its athletic footwear and apparel, has announced a multiyear partnership with the Women’s National Basketball Association (WNBA), marking a significant step in its foray into the rapidly expanding women’s sports market. This agreement positions New Balance as an official league partner, joining established giants like Adidas, Nike, Puma, and Under Armour, and will feature prominent sponsorship of Los Angeles Sparks rookie forward Cameron Brink. While financial terms of the deal remain undisclosed, this move strategically aligns with New Balance’s broader ambition to become a prominent figure in both basketball and women’s sports.
Key Takeaways:
- New Balance enters the WNBA as an official league partner, signifying the brand’s commitment to women’s sports.
- The partnership highlights the rising popularity of women’s basketball, with the WNBA experiencing significant viewership and attendance growth.
- New Balance’s deal aligns with its broader strategy of expanding its presence in basketball and solidifying its position as a leader in women’s sports.
- The partnership marks the latest in a string of high-profile signings for New Balance as it seeks to broaden its brand appeal beyond its traditional footwear focus.
New Balance’s Strategic Pivot
This partnership underscores New Balance’s recent shift towards attracting a wider audience by venturing beyond its traditional stronghold within running and walking footwear. The brand has made strategic inroads into other sports categories, capturing the attention of renowned athletes like tennis prodigy Coco Gauff and MLB superstar Shohei Ohtani, showcasing a commitment to diverse athletic communities.
Jessica Vassall, Global Head of Partnerships for New Balance, emphasized the strategic value of this agreement, highlighting the company’s desire to contribute to the advancement of women’s sports. "It’s really exciting that we’re going to play a small part in continuing the growth and progress towards achieving parity in women’s sports," Vassall stated.
Cameron Brink: A Key Figure in New Balance’s WNBA Strategy
The partnership centers around Brink, a standout player drafted by the Los Angeles Sparks, who became the first female basketball player to sign with New Balance in August 2023. Brink’s rising star status, combined with her commitment to New Balance, positions her as a key brand ambassador for the WNBA partnership.
"Even though my parents worked at Nike for a long time, it was such an easy conversion. … I felt like family with [New Balance], and it felt like a great environment," Brink shared, expressing her genuine connection with the brand.
Despite suffering a season-ending ACL tear in June, Brink’s influence remains significant. New Balance plans to utilize her presence in various lifestyle and performance campaigns, leveraging her impact to influence future product development.
The WNBA: A Growing Market with Potential for Brands
While basketball footwear remains a male-dominated territory, the WNBA is experiencing a surge in popularity. Circana, a market research firm, reports that women’s basketball represents a mere 6% of the total professional basketball market, yet it has seen double-digit growth in recent years, even as men’s basketball sneaker sales have declined.
"[New Balance is] known for running and walking and training … but they have shown they can be a player in a number of new sports they’ve moved into — like tennis and baseball, " noted Beth Goldstein, a footwear industry analyst at Circana.
This growing market opportunity has not gone unnoticed by major brands like Nike, Jordan Brand, Adidas, Puma, and Under Armour, but New Balance aims to carve out its own space by showcasing its commitment to women’s sports and the athletes who excel within them.
New Balance’s Momentum and a Growing Footprint
New Balance’s aggressive approach to expanding its market reach is evident in its impressive financial performance. The company reported $6.5 billion in sales last year, marking a 23% increase compared to 2022. Moreover, New Balance has achieved consistent double-digit growth across footwear and apparel globally, solidifying its position as a force in the athletic wear market.
Foot Locker CEO Mary Dillon, acknowledging New Balance’s recent successes, highlighted the brand’s growing appeal to consumers across the globe during a May 30 earnings call. "New Balance continues to drive consumer excitement at scale as they are trending positively with consumers globally, importantly including our women’s men’s and kids’ consumers," Dillon emphasized.
New Balance has also been expanding its physical presence, with 90 new stores scheduled to open in 2024, reinforcing the brand’s commitment to reaching a wider audience both online and offline.
The WNBA: A Platform for Growth and Sustainability
The WNBA, fueled by rising star power like Indiana Fever rookie Caitlin Clark and strong leadership, is experiencing a surge in both viewership and attendance. This positive trend has enabled the league to attract a diverse range of partners like New Balance.
"We are outperforming every single metric," said Colie Edison, Chief Growth Officer for the WNBA. "We’re seeing an influx of fans and partners, which allows us to create a new economic model that is going to set the league up for long-term business sustainability."
The WNBA averages 1.2 million viewers per game and has experienced a 16% increase in attendance from the previous season, solidifying its position as a viable platform for brands looking to reach a growing and engaged audience.
Conclusion
New Balance’s strategic partnership with the WNBA signals a compelling investment in women’s sports. This commitment to empowering female athletes and promoting the league’s growth reflects a broader trend within the sports industry, where brands are seeking a more diverse and inclusive approach to reaching consumers. This move aligns with New Balance’s ambitious goals to expand into new sports categories and solidify its position as a leading player in the athletic wear market. As the WNBA continues its trajectory of growth and popularity, New Balance’s strategic partnership positions the brand for success in a market brimming with potential.
