Cameron Brink #22 of the Los Angeles Sparks plays defense against Bridget Carleton #6 of the Minnesota Lynx on June 5, 2024 at Crypto.com Arena in Los Angeles, California.
Juan Ocampo | National Basketball Federation | Getty Images
New Balance on Tuesday announced a multi-year deal with the WNBA, joining a growing roster of sponsors for women’s sports.
The deal 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 a league partner. The WNBA does not have an exclusive footwear partner, but only league sponsors are allowed to display their logos on the court. Financial terms of the deal were not disclosed.
The deal comes as New Balance looks to increase the company’s stake in basketball and become a leader in women’s sports.
“It’s really exciting to play a small part in the continued growth and progress towards achieving parity in women’s sports,” said Jessica Vassall, global head of partnerships for New Balance.
In August, Cameron Brink became the first female basketball player to sign with New Balance.
Courtesy: New Balance
Almost a year ago, New Balance signed Brink, then a star at Stanford University. The four-time NCAA All-American became the first female basketball player on the New Balance roster. The brand also represents a handful of NBA stars, including Kawhi Leonard.
“Even though my parents worked at Nike for a long time, it was such an easy transition… I felt like family with [New Balance]and it felt like a great environment,” Brink told CNBC.
Brick, the Sparks’ No. 2 draft pick, suffered a season-ending ACL tear in June. He will miss the rest of the 2024 season and the Paris Olympics as he rehabs.
New Balance said it will be featured in various lifestyle and performance campaigns, in addition to working with its teams to influence future products.
The sneakers worn by Cameron Brink #22 of the Los Angeles Sparks during the game against the Chicago Sky on May 30, 2024 at Wintrust Arena in Chicago, IL.
Jeff Haynes | NBA | Getty Images
Nike, Jordan Brand, Adidas, Puma and Under Armor currently dominate the women’s basketball market. However, it’s still only a fraction of the overall pro market at just 6%, according to market research firm Circana. However, men’s basketball sneakers have seen a decline in sales lately, with women’s business seeing a double-digit rate.
“[New Balance is] known for running and walking and training … but they’ve shown they can be players in a lot of new sports they’ve transitioned into — like tennis and baseball,” said Beth Goldstein, footwear industry analyst at Circana.
New Balance also represents top tennis player Coco Gauff and 2023 signed Los Angeles Dodgers phenom Shohei Ohtani.
The 118-year-old Boston-based company had sales of $6.5 billion last year, up 23 percent from 2022, according to New Balance. Over the past three years, the brand has seen double-digit growth globally in footwear and apparel, according to the company.
Foot Locker CEO Mary Dillon on a May 30 earnings call noted the strength of the brand once known for “dad shoes.”
“New Balance continues to drive consumer excitement at scale as they trend positively with consumers worldwide, including our men’s and kids’ consumers,” said Dillon.
The privately held entity is also growing its footprint, with 90 new stores planned by 2024.
Now, the company is turning to the women’s sports category to continue that growth trajectory — at a time when it’s never been hotter.
“We’re exceeding every metric,” said Colie Edison, chief development officer for the WNBA.
Aided in part by the popularity of rising stars like Indiana Fever rookie Caitlin Clark, the WNBA now averages 1.2 million viewers per game with attendance up 16 percent from last season.
“We’re seeing an influx of fans and partners, which allows us to create a new financial model that will set the league up for long-term business viability,” Edison said.