Joe Preston

Joe Preston’s leadership as CEO of New Balance represents a powerful blend of tradition, innovation, and steady growth, propelling the footwear brand to new global heights. Since taking the helm in 2018, Preston has not only delivered record-breaking sales but also redefined how New Balance competes in an ever-evolving athletic and lifestyle market.

Career and Foundation

Preston joined New Balance in 1995, quickly climbing the ranks through roles overseeing running and lifestyle products, then managing Asia Pacific business, before taking on executive leadership of international strategy and global product development. In 2018, following Rob DeMartini’s twelve-year tenure, Preston was named President and CEO—a reward for his decades of consistent results, firsthand knowledge of global markets, and commitment to the values that built New Balance’s reputation.

A graduate of Merrimack College who also holds an MBA from Babson Graduate School of Business, Preston is celebrated for upholding the brand’s trust-driven, people-first culture. He serves on several industry and community boards, including The Sports Museum, the American Apparel & Footwear Association, and the Two Ten Foundation.

Growth and Financial Performance

Under Preston, New Balance entered a hypergrowth phase. Annual sales reached a record $7.8 billion in 2024, up 20% from 2023, marking four straight years of more than 20% growth. About 60% of this revenue now comes from international markets, driven by rapid expansion in Europe and Asia, especially Greater China. Preston credits the brand’s success to rigorous product innovation, calculated selective distribution, and a refusal to chase unsustainable, trend-driven growth: “Quite frankly, we could be bigger if we wanted to, but we use a selective distribution approach to manage the brand and not oversaturate.”

In the US, average selling prices rose from under $60 in 2019 to over $80 in 2024, and community-focused store designs fostered local connections.

Innovation, Sustainability, and Digital Transformation

New Balance’s reputation for “dad shoes” is a relic of the past. Preston has doubled down on R&D, with the brand’s Boston research hub developing new materials, sustainable practices, and performance-running breakthroughs. As he told Yahoo Finance: “We do believe the next big revolution is going to come in materials. I fundamentally believe that, and I think it’ll come plant-based or something that will revolutionize the industry”.

A major commitment to US manufacturing continues, with factory expansions in Maine and New Hampshire and a new distribution center in Tennessee. The “New Balance Reconsidered” resale and circular economy pilot launched in 2024, reflecting a growing focus on sustainability.

Brand, Marketing, and Culture

New Balance’s investments in athlete partnerships have driven the brand’s prominence among new consumer demographics. High-profile deals include tennis star Coco Gauff, baseball phenom Shohei Ohtani, and Olympic gold medalist Sydney McLaughlin. This visibility, plus vintage sneaker trends, has made five of the top 16 most in-demand retro/running silhouettes in 2023 New Balance models.

The brand’s “OneNB” culture has become a rallying point for employees worldwide, with a renewed spirit of teamwork. 

Responsible Leadership and Community

Throughout Preston’s term, New Balance stayed true to its independent spirit and social values. The New Balance Foundation distributed more than $10 million in grants to 79 organizations worldwide in 2023 and continues to lead in youth sports, health, and education

Milestones and Achievements

With Joe Preston at the helm, New Balance merges innovation and authenticity, making it one of the world’s most dynamic, responsible, and fastest-growing athletic brands.