SC

New Balance is a fascinating case study. The company was founded in 1906, but Jim Davis purchased it in 1972 for $100,000. It had just six employees making 30 pairs of running shoes a day, and Davis financed it with $10,000 down. Davis still owns about 95% of the company today, and its sales have EXPLODED over the last six years. New Balance Annual Revenue • 2020: $3.3 billion • 2021: $4.4 billion • 2022: $5.3 billion • 2023: $6.5 billion • 2024: $7.8 billion • 2025: $9.2 billion Nike is now only 5x bigger than New Balance — it was 11x bigger before the pandemic — and New Balance added more revenue last year than On and Hoka combined. New Balance has also signed a ton of athletes, including Shohei Ohtani, Cooper Flagg, Josh Allen, and a new deal with Ben Shelton that could be worth up to $18 million annually. The company is likely worth more than $10 billion today, and with a 95% ownership stake, Jim Davis is one of the wealthiest 200 people in the United States. Today's newsletter breaks down all the details. READ MORE: huddleup.substack.com/p/how-…