No. 22 Cameron Brinker of the Los Angeles Sparks takes on No. 6 Bridget Carlton of the Minnesota Lynx at Crypto.com Arena on June 5, 2024 in Los Angeles, California.
Juan Ocampo | National Basketball Association | Getty Images
New Balance announced a multi-year deal with the WNBA on Tuesday, joining a growing list of supporters of women’s sports.
The agreement will make New Balance an official partner of the WNBA and will include broadcast, digital and retail content featuring Los Angeles Sparks rookie forward Cameron Brink.
New Balance joins Adidas, Nike, Puma and Under Armor as alliance partners. The WNBA does not have an exclusive footwear partner, but only league sponsors can display their logos on the court. Financial terms of the deal were not disclosed.
The deal comes as New Balance looks to expand the company’s presence in basketball and become a leader in women’s sports.
“It’s really exciting that we will play a small part in continuing to achieve equality and advancement in women’s sports,” said Jessica Vassall, head of global partnerships at New Balance.
In August, Cameron Brink became the first women’s basketball player to sign with New Balance.
Courtesy: New Balance
nearly a year ago, New Balance signs then-Stanford star Brink. The four-time NCAA All-American becomes the first female basketball player on New Balance’s roster. The brand also represents a number of NBA stars, including Kawhi Leonard.
“Even though my parents worked at Nike for a long time, the transition was easy… I feel like a family with New Balance and it’s a great environment,” Brink told CNBC.
Brinker, the Sparks’ second overall pick, suffered a season-ending ACL tear in June. She will miss the remainder of the 2024 season and the Paris Olympics while she recovers.
New Balance says that in addition to working with their team to influence future products, she will appear at various lifestyle and performance events.
No. 22 sneakers worn by Cameron Brink during the Los Angeles Sparks game against the Chicago Sky at Wintrust Arena on May 30, 2024 in Chicago, Illinois .
Jeff Haynes | NBA | Getty Images
Nike, Jordan Brand, Adidas, Puma and Under Armor currently dominate the women’s basketball market. But it still accounts for only a small part of the total professional market, accounting for just 6%, according to market research firm Circana. Still, sales of men’s basketball sneakers have declined recently, while sales of women’s basketball sneakers have seen double-digit growth.
“(New Balance) are known for running, walking and training…but they’ve proven they can be athletes in many new sports they’ve branched out into, like tennis and baseball,” footwear insider Beth Goldstein ) said Circana analysts.
New Balance also represents top tennis player Coco Gauff and has signed the Los Angeles Dodgers talent through 2023 Shohei Ohtani.
The 118-year-old Boston company had sales of $6.5 billion last year, a 23% increase from 2022, according to New Balance. The brand has experienced double-digit growth in global footwear and apparel over the past three years, the company said.
Foot Locker CEO Mary Dillon pointed to the strength of the brand once known for its “dad shoes” during a May 30 earnings call.
“New Balance continues to drive consumer excitement at scale as they demonstrate positive trends among consumers globally, and importantly including our female, male and children’s consumers,” said Dillon.
The privately held entity is also expanding its footprint, with plans to open 90 new stores in 2024.
Now, the company is turning to the women’s sports category to continue that growth trajectory — at a time when the category has never been hotter.
“We’re outperforming on every metric,” WNBA chief growth officer Colie Edison said.
Thanks to the popularity of rising stars such as Indiana Fever rookie Kaitlyn Clark, the WNBA is currently averaging 1.2 million viewers per game, a 16 percent increase in attendance from last season.
“We are seeing an influx of fans and partners that allows us to create a new economic model that lays the foundation for the league’s long-term business sustainability,” Edison said.
