(Author : Sandra Halliday)
Sports giant New Balance has just opened a store on London’s Oxford Street and also said it is committed to manufacturing in Britain despite the Brexit issue.
The new store is the firm’s largest outside the US market, with a 950 sq ft space covering three floors.
The company, which employs around 600 people in Britain, also said its factory in Flimby, Cumbria, which employs 240 of its workers, will continue to operate with New Balance, also keeping its European HQ in the UK. CEO Rob DeMartini told the Press Association that the company has significant business in Britain, one of its fastest growing markets, something that is unusual for such a well developed market. He also said that the Brexit process could bring the UK and US closer together.
DeMartini added that the company will manufacture its premium football boots in the UK for the first time in nearly four decades. The company has close links with UK football, sponsoring Liverpool FC and Scottish side Celtic with plans to add more clubs to the list.
New Balance has a long-term aim of becoming the third largest sportswear company globally behind Nike and Adidas and believes boosting its football credentials will aid this aim. It is also diving into the cricket market via sponsorship of the England team as it seeks to boost its business in the Indian market where cricket is a major sport.
Source : us.fashionnetwork.com