New Balance is growing in 2023, sees room for 90 new stores worldwide

New Balance has grown its sales by double digits in the year 2023. Europe played the leading role over the period, Joe Preston, chairman and chief executive officer of New Balance, told Bloomberg in a report. He also stated that he sees room for the opening of some 90 new stores in the coming year.

New Balance's sales amounted to around 6.5 billion dollars in 2023, 23 percent above the sales level a year earlier. Geographically, Europe drove the growth: in this market, New Balance grew by 35 percent, Preston noted. America, which is always growing consistently, recorded growth of "at least" 20 percent.

The growing figures have led New Balance to put expansion plans on paper. Among them, the brand is looking to open 90 stores globally by 2024 and integrate a new concept to 50 locations that is "more in tune with the target audience".

"As we move forward, we will stay true to who we are as we connect sport and culture and drive our product innovation and brand investment. We will continue to build best-in-class global operations and harness our independent and entrepreneurial spirit for another strong year," Preston said.