You’ve probably seen the grey suede 990s on the feet of everyone from supermodels in Paris to grandpas at the hardware store. It’s a weirdly specific kind of dominance. But the guy who actually owns the company, James Davis, usually stays so far out of the spotlight that most people don't even realize New Balance is basically a family-run shop in an industry of corporate giants.
Honestly, Jim Davis (as his friends call him) is kind of the anti-Phil Knight. While Nike was out there signing every superstar on the planet, Davis was busy in Boston making sure his shoes came in six different widths. He bought the company back in 1972 on the day of the Boston Marathon. Back then, it was just six people making about 30 pairs of shoes a day. Now? It’s a multibillion-dollar powerhouse that somehow stayed private while everyone else went public.
How James Davis Turned New Balance Into a Global Titan
The math on this is actually pretty wild. When Davis bought the firm from Eleanor and Paul Kidd, he paid around $100,000. Today, his net worth is estimated at over $5 billion. He didn't do it by following the "cool" kids, though. For decades, New Balance famously had an "Endorsed by No One" philosophy.
They didn't want to pay millions to athletes; they wanted to spend that money on better rubber and better fit.
It was a massive gamble.
By the late 90s and early 2000s, this "boring" focus on quality started to pay off. The 990 series became a cult classic in the DMV (D.C., Maryland, Virginia) area and later in Japan. Davis realized that if you make a product that's actually comfortable, you don't have to beg people to buy it. They just do.
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Keeping it in the Family
One of the biggest reasons James Davis and New Balance have stayed relevant is the refusal to go public. Being private means you don't have to care about what Wall Street thinks every three months. If Jim wants to keep a factory open in Maine or Massachusetts—even if it costs more than moving everything to Vietnam—he can just do it.
- Anne Davis: Jim’s wife, Anne, joined the company in 1977 and serves as Vice Chairman.
- The Kids: Their children, including Chris Davis (who leads brand marketing), are now deeply involved in the day-to-day.
- The Ownership: The Davis family still owns an estimated 95% of the company.
This setup allowed them to pivot toward "lifestyle" fashion right when the "dad shoe" trend exploded a few years ago. Because they weren't bogged down by corporate bureaucracy, they could greenlight collaborations with brands like Aime Leon Dore or Joe Freshgoods that felt authentic rather than forced.
The Politics of a Private Empire
It hasn't all been smooth sailing for James Davis. Being the face of a brand that prides itself on "Made in USA" means you're going to get tangled up in politics eventually. In 2016, a senior executive’s comments about trade policy—specifically expressing support for Donald Trump’s stance on the Trans-Pacific Partnership—sparked a massive backlash.
People were literally burning their sneakers on Twitter.
Davis himself is a known Republican donor, which has occasionally put him at odds with the younger, more progressive sneakerhead demographic. But the brand survived. Why? Because at the end of the day, people really like the shoes. New Balance occupies this unique middle ground: it's "local" enough to feel ethical but "global" enough to be cool.
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A Different Kind of Strategy
While Nike and Adidas were fighting over NBA contracts, Davis was quietly buying up other brands. They brought Warrior Lacrosse and PF Flyers into the fold. They expanded into soccer and cricket.
But they never lost that core identity.
Most people don't know that Davis actually studied biology and chemistry at Middlebury College. He originally thought he’d be a doctor, but it turns out he was better at sales. That scientific background probably explains why New Balance is so obsessed with the "technical" side of footwear. They treat a running shoe like a piece of medical equipment rather than a fashion accessory.
Why New Balance is Winning Right Now
The current "New Balance Era" isn't an accident. It's the result of fifty years of staying the course. In 2026, we're seeing a massive shift away from "disposable" fashion. People want things that last.
The company’s revenue hit $6.5 billion recently. That’s not "niche" anymore. That’s a threat to the big players.
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Jim Davis proved that you can be "fiercely independent" (their actual slogan) and still win. He didn't need a board of directors or a bunch of shareholders telling him to cut costs. He just focused on the fit.
What you can do next:
If you’re looking to invest in the brand's legacy, keep an eye on the MADE in USA collection. These specific models are overseen by Teddy Santis and represent the peak of the quality Davis has championed since the 70s. For those interested in the business side, tracking New Balance’s expansion into professional team sports (like their recent push into MLB and European football) shows exactly how they plan to use their private capital to take more market share from Nike in the coming decade.
Check your current pair's tongue label; if it says "Made in USA," you're wearing the direct result of the manufacturing philosophy Davis refused to give up.