New Balance CEO talks athletic shoe technology, growing the brand, and leadership

Joe Preston, CEO and president of New Balance, isn't resting on the brand's laurels and the success from the multiyear highs of demand for retro kicks. To take New Balance to the next level and compete with Nike (NKE) and Adidas (ADDYY), Preston is betting it all on innovative materials. Under Preston's leadership, New Balance has already outpaced Nike, (NKE) Adidas, (ADDYY), and Puma (PUM.DE) when it comes to revenue growth, with a 23% increase from 2022 to 2023.
Preston, a New Balance veteran, began his career at the brand in 1995 and took the helm in 2018. For nearly thirty years, he's seen the company evolve from the maker of the “dad shoe” to everyone’s shoe. It has put him in a unique position to both understand the consumer’s wants and lead the brand's next evolution.
"They're looking for new. They're looking for fresh. They're looking for authenticity. Those are all elements that we're trying to deliver and present to them," Preston said.
Yahoo Finance got a rare look at New Balance's operation, from research all the way through to manufacturing, to see how Preston’s strategy of combining innovative technology, materials, and design are all part of his bid to create the next big "it" performance shoe.
Lead This Way is an interview series that features frank conversations with today’s leaders. The series gives consumers and investors an inside look into the innovative thinking and diverse life experiences of some of the biggest players in business to find out how they lead through change and how they define success for themselves and their organizations.
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[@manoftomorrow5987]

Dad shoes are in right now…like most trends they come and go. I wish them all the best in the future.

[@chrisbullock6477]

Its because if you were born in 79-80 your parents couldn't afford them back then. Now you have your own money and can actually afford them, and their timeless classics that are quality made.

[@corpr8dystopia778]

This is a great highly respected American brand, class organization that remains competitive with sacrificing their soles. I have several pairs and buy every stone island collaboration.

[@superjarb7]

2:31 it is completely different model what he wore and what infographic shows

[@PMUP2016]

“Overstepping” Nice!

[@brianmoreau8016]

They don’t have a stock?

[@lmankj]

Private

[@M4NA5]

No, thank god. That’s why they sell quality products.