New Balance is one of the world's most reputable manufacturers of all kinds of sports apparel and footwear. The shoe-manufacturing company has gained a reputation for producing footwear that prioritizes comfort and performance, making them popular among athletes and casual sneaker users. The company is accredited with designing "The Trackster," the world's first running shoe made with a ripple sole.
New Balance is now a family-managed company privately held by Jim Davis who bought the company in 1972. Jim Davis is an American billionaire who also has an investment in XL Fleet and Major League Lacrosse. He took New Balance, as a 6-employee footwear maker, and transformed it into a worldwide enterprise. He is also a member of the Citizen's Bank Board of Directors in Providence.
The brand was founded in 1906 by William Riley as an arch support manufacturer until the 1930s when it began to produce orthopedic footwear. Along the line, the company shifted focus to athletic sneakers and was sold to Eleanor and Paul Kidd in 1956. New Balance recently joined the worldwide soccer market in 2015 to expand its line of specialty footwear.