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 Association | Getty Images
New Balance announced a multi-year deal with the WNBA on Tuesday, joining a growing list of sponsors of women's sports.
The deal will make New Balance an official partner of the WNBA and will include streaming, digital and retail content featuring Los Angeles Sparks rookie forward Cameron Brink.
New Balance joins Adidas, Nike, Puma and Under Armour as a league partner. 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 increase the company's involvement in basketball and become a leader in women's sports.
“It's really exciting that we're going to play a small part in the continued growth and progress toward achieving parity in women's sports,” said Jessica Vassall, global director of partnerships for New Balance.
In August, Cameron Brink became the first female basketball player to sign with New Balance.
Courtesy: New Balance
Nearly a year ago, New Balance signed Brink, then a star at Stanford University. The four-time NCAA All-American became the first women’s basketball player on New Balance’s 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 a very easy conversion… I felt like I was part of a family with them.” [New Balance]”And I felt like I was in a great environment,” Brink told CNBC.
Brink, the Sparks' second overall draft pick, suffered a season-ending torn ACL in June. He will miss the remainder of the 2024 season and the Paris Olympics while he recovers.
New Balance said he will appear in several lifestyle and performance campaigns, as well as working with his teams to influence future products.
The shoes 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 Armour currently dominate the women’s basketball market, but they still account for just a fraction of the total professional market, at just 6%, according to market research firm Circana. Still, men’s basketball shoe sales are declining lately, while the women’s business has been growing by double digits.
“[New Balance is] “They're known for running, walking and training… but they've proven they can participate in a number of new sports they've gotten into, like tennis and baseball,” said Beth Goldstein, a footwear industry analyst at Circana.
New Balance also represents top-ranked tennis player Coco Gauff and signed Los Angeles Dodgers phenom Shohei Ohtani in 2023.
The 118-year-old Boston-based company had revenue of $6.5 billion last year, up 23% 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 highlighted the strength of the brand once known for its “dad shoes” on a May 30 earnings call.
“New Balance continues to generate consumer excitement at scale as it shows positive trends among consumers globally, including most notably our women's, men's and kids' consumers,” said Dillon.
The private entity is also expanding its presence, 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 has never been hotter.
“We're exceeding every single metric,” said Colie Edison, WNBA chief growth officer.
Helped 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% from last season.
“We are seeing an influx of fans and partners, allowing us to create a new economic model that will set the league up for long-term commercial sustainability,” Edison said.
