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New Balance beats forecast
New Balance accelerated their rate of growth in the EMEA region by posting a creditable 22% revenue increase for 2005 (with reported worldwide sales of $1.54 billion) whilst continuing the upward trend for 2006 by running growth at 25%, well in line with expectations.
The UK, France, Germany and the Benelux countries all enjoyed double digit increases. Penetration of the running speciality markets and strong progress with Europe’s leading sporting accounts was viewed as key to New Balance’s success which has led to this sustainable growth.
Alistair Cameron,New Balance’s newly promoted Managing Director for EMEA, commented on this powerful trading performance in the company’s centenary year: “The last six years has seen a repositioning of the brand to reflect more accurately the values and characteristics that the brand has built over the last hundred years.”Cameron continued: “The trade recognise that we offer a credible alternative to the other major brands on the market.Against the background of an industry that is regrouping and consolidating,New Balance, I feel, is bringing a much needed differential to the market that retailers appreciate. I firmly believe that while we are moving ever closer to the tipping point we still maintain our distinctiveness as a brand and our point of difference. The fact that we are enjoying greater brand awareness as we invest in the lifestyle sector and progress back towards the higher end of the market underpins that belief.”
This announcement co-incides with the brand’s recent European Ethics Award. PETA (People for the Ethical Treatment of Animals) presented the brand with the Proggy Award for the Best Cruelty-Free Athletic Shoe Company for their range of animal-friendly shoes, easily identified by a Vegan Friendly Animal Free Product symbol.
