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About New Balance
New Balance is a leading sports footwear manufacturer founded in 1906. According to its official website, the company assembles more than 4 million pairs of footwear in the United States every year. Apart from making shoes, the company also makes fitness apparel for kids. New Balance owns a leather boot and shoe maker, Dunham.
The company sells shoes in its own stores and through specialty retailers. Nearly 25% of New Balance’s United States footwear shipments are produced in the United Kingdom. Through its more than 4,000 associates in different parts of the world, New Balance is able to sell its merchandise in more than 120 countries.
New Balance Portfolio and Business Strategy
Apart from shoes that bear the brand name of New Balance this company’s portfolio includes:
- PF Flyers footwear
- Aravon shoes
- Warrior hockey wear
- Brine soccer and hockey shoes
New Balance also manufactures apparel and accessories through licensing deals with companies such as:
- J. Crew
- Moretz Sports
- Eyewear Designs
- Fitness Quest
- Hickory Brands
Unlike its competitors, New Balance does not have endorsements from celebrities. Instead, the company gives the spotlight to lesser known athletes in what it terms as emphasizing on substance over style. The approach, according to New Balance, is meant to attract clients who don’t mind spending a little more money on footwear.
Even though New Balance shuns celebrity endorsers, it is active when it comes to sponsoring races, teams, youth sports and track as well as field events. To connect with younger customers, the company has entered the skate footwear market via a license agreement with Black Box Distribution. New Balance has also ventured into yoga apparel.
New Balance Price Adjustment Policy
New Balance does not have a price adjustment policy. Instead, it has a return policy which is regulated by the following terms and conditions.
- Customers should return any items they are unsatisfied with to the nearest New Balance store within 30 days of purchase.
- New Balance does not accept returns on custom shoe orders
- For exchanges, customers have to call New Balance through the numbers provided on the company’s official website. The same applies to gift items.
- No return shipping fee is charged if the customer uses the company’s pre-paid return label
- You should allow New Balance 5 to 10 business days after it receives your package to process the refund and credit your account.
It will take 2 to 4 weeks to process refunds for payments made via checks or money orders. If the customer is returning a gift item, he or she should call New Balance to receive a credit that can be used on newbalance.com.