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,…
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