New Balance recently announced a multiyear deal with the WNBA, marking a significant step in tapping into the women’s sports market. The agreement will see New Balance become an official partner of the WNBA, joining other major athletic brands such as Adidas, Nike, Puma, and Under Armour. The deal includes various elements such as broadcast, digital, and retail content featuring Los Angeles Sparks rookie forward Cameron Brink. Despite not having an exclusive footwear partner, only league sponsors are allowed to display their logos on court.
As New Balance looks to expand its share in the basketball market and establish itself as a leader in women’s sports, this partnership with the WNBA provides an opportunity to engage with a growing and passionate fan base. Jessica Vassall, global head of partnerships for New Balance, expressed excitement about contributing to the progress towards achieving parity in women’s sports through this collaboration. By signing Brink, the first female basketball player on its roster, New Balance is making a bold statement in support of women’s athletics.
Growth and Innovation in Women’s Basketball
While major brands like Nike, Jordan Brand, Adidas, Puma, and Under Armour currently dominate the women’s basketball market, there is still room for expansion. Market research indicates that men’s basketball sneaker sales are declining, while the women’s business is experiencing double-digit growth. With New Balance’s expertise in running, walking, and training shoes, the brand is well-positioned to make a mark in the women’s basketball segment. Analysts acknowledge New Balance’s successful forays into new sports like tennis and baseball, hinting at its potential to disrupt the market further.
New Balance, a 118-year-old company based in Boston, reported robust sales figures last year, indicating a 23% increase from the previous year. The brand has witnessed continuous double-digit growth globally in both footwear and apparel over the last three years. Foot Locker CEO Mary Dillon commended New Balance’s consumer appeal and highlighted its positive trend with consumers across different segments. With plans to open 90 new stores in 2024, New Balance is focusing on expanding its footprint and strengthening its presence in the market.
The WNBA is experiencing a surge in popularity, with rising stars like Caitlin Clark attracting more viewers and fans to the sport. The league’s average viewership per game has reached 1.2 million, with a 16% increase in attendance from the previous season. Colie Edison, chief growth officer for the WNBA, emphasized the importance of new fans and partners in building a sustainable economic model for the league’s long-term success. This growing momentum presents a promising opportunity for New Balance to align itself with the flourishing women’s sports industry.
New Balance’s partnership with the WNBA represents a strategic move to tap into the thriving women’s sports market. By leveraging the growing popularity of women’s basketball and aligning with a league known for its inclusivity and diversity, New Balance is bolstering its position as a key player in the sports industry. As the brand continues to innovate and expand its reach, this collaboration with the WNBA marks a significant milestone in its journey towards becoming a powerhouse in women’s athletics.
Leave a Reply