Skip to main content

New Balance: Dominating the Market or Filling in Yeezy’s Place?

By September 7, 2023September 13th, 2023Food for thought, New Balance

AIO Bot - New Balance Dominating The Sneaker IndustryThere are underrated sneaker brands, and then there’s New Balance. You see, in times when Nike is the popular kid in the sneaker culture, New Balance is the genius- yet odd- person everybody lowkey knows they’ll be going places in the future. And it seems like the brand started going said places the moment chunky sneakers became THE trend again 10 or so years earlier. And so NB went from the underdog to a brand with potential enough to dominate the market. But will it though? Well, why don’t we see for ourselves!

New Balance Dominating the Market? 

Sneaker Brands Market Share - AIO BotYou see, there was a time in 2022 when everyone questioned the possibility of New Balance dominating the market. The brand moved in all the right directions till it brought a record-high revenue of $5.3 Billion that year. And although NB had no intention of being part of the hype culture, the hype is exactly what had them climbing up the hierarchy this fast. So, in 2022, the brand made it one step closer to dominating the sneaker market. Let’s rephrase that. Sneaker resellers hyped up the brand on resell platforms, boosting the demand for NB sneakers like never before. 

In addition, at some point in 2022, the White Grey 550 made it to the top 10 best-selling sneakers on StockX. And in the past 3 years, it was rare to see a list ranking the best sneakers of the year without New Balance making its way into it. In fact, GOAT and Flight Club (two of the best resale stores) reported that New Balance sneakers were among the 10 most in-demand sneakers on their platforms. And that the 550s seemed to be a sneakerhead favorite. As their sales amounted to 36% of all New Balance sales during that year. 

New Balance Popularity

Now, when it comes to the sneaker industry as a whole, New Balance is the 8th most popular sneaker brand. And they’re owners of 4% of global market share, according to Statista. That might not seem like a lot when you compare it to Nike’s 18%. (Which technically amounts to around 29% if you add Jordan Brand). Although there’s no definite number, the total number of sneaker brands around the world isn’t a mere 10, or 35. We’re talking more than a hundred brands worldwide. 

Additionally, high-profile sneaker collaborations are the main contributors to New Balance’s success. Over the years NB have collaborated with big names, such as Aimé Leon Dore, Joe Freshgoods, JJJJound, Stray Rats, Todd Snyder, and as of recently, Amine.

New Balance vs. Nike 

Nike might be the sneaker giant of the industry. But that doesn’t mean that New Balance doesn’t top Nike in certain categories. For example, New Balance sneakers have got better durability than Nike kicks. Also, comfort-wise, NB is known for offering the most comfortable sneakers out there. For a more thorough comparison of both brands, click here

Will New Balance Fill In The Gap Yeezys Will Leave Behind?

New Balances And Yeezys - AIO BotFirst things first, New Balance have witnessed growth on sites like StockX for four years straight. This includes a 128% increase in sales between 2021 and 2022 alone, according to CNBC Make It. NB also reported $5.3 Billion worth of revenue in 2022. Which is equivalent to a 21% increase from the previous year. The brand currently runs more than 500 stores around the world and they have more than 3,000 retail partners. 

So, all in all, in recent years, New Balance seem to have doubled their efforts as they developed new products, dropped several collabs (most of which are athletes), as well as took direct control over their distribution in certain parts of Europe. 

Here comes the real question. We all know that the past year hasn’t been Adidas and Yeezy’s best year. And Adidas Yeezys are still one restock short till every partner goes their own way (Read more about the Yeezy Sale 2023 here). Meaning that, Yeezys will be leaving a vacant place in the market for anyone to fill out. And we all know that it’s one big place. In fact, Adidas was on the verge of losing a huge chunk of money had they not decided to cut back on those losses and bring Ye back.

Conclusion 

In other words, after Ye leaves, there would be a big market share to claim. And with the way New Balance have been going with upping their game and boosting up their revenues, who knows, they may be the ones to claim the biggest chunk of the cake. Either way, now we know that sneaker collectors like Richie Roxas did make a smart move in collecting over 600 pairs of New Balance sneakers over the years. Sneakerheads do know best, after all. And that’s exactly why we’ve got cook groups to join!