26/10/2023
👉 Welcome to the world of shoes where Nike, Adidas and Puma are already ruling the industry but one player has given great competition since a long time. That brand is - New Balance.
This 100-year-old company's case study teaches several marketing lessons. The story starts back at the beginning of the 20th century when the British Empire was rapidly declining and USA was emerging as a powerful country in the world.
William J. Riley came from England to Boston and settled there. Riley was working on his innovations. His focus was only on how to offer comfortable shoes to an ordinary person.
A revolution began in the late 18th century when the US rubber company started selling rubber soles in 1892. Coming of age, he tied up with Goodyear in 1916 and launched a sneaker brand called "Keds".
William J. Riley started the New Balance arch support company in 1906. His vision was to offer people comfortable and well-fitting shoes.
How the name New Balance was kept is also a very interesting story. Once Raily got an inspiration while watching the chickens kept in the backyard from the window of his house. Quickly he started making sketches of how chickens could distribute their weight, maintain balance and keep standing easily for a very long period.
It is a very interesting story of how the company made its way to the top while competing with global brands like Nike, Adidas and Puma.
Company's current valuation is $200 Billion and "Brandman Retail" is official partner of New Balance in India. Radeshwer Davar is country manager, who was VP of Reliance brands earlier and led Jimmy Choo and Versace in India.
If you're interested in business case studies, and brand success stories, this New Balance case study video is a must-watch!
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👉 Welcome to the world of shoes where Nike, Adidas and Puma are already ruling the industry but one player has given great competition since a long time. Th...
