Jim Davis bought the small New Balance shoe company in 1972 and, with his wife Anne, transformed it over five decades into a multibillion-dollar global athletic brand while retaining private family control. [1][2]
He acquired a small existing company rather than inheriting one
New Balance traces its roots to 1906 but records 1972 as the year Jim Davis acquired the company, meaning he bought an existing shoemaker rather than receiving it through family inheritance. [1]
Forbes described Davis as seeing an opportunity in the growing athletic-shoe market and buying New Balance on the day of the Boston Marathon in 1972, later classifying the resulting fortune as self-made. [2]
The company was still small when Davis acquired it, so although he began with an operating business rather than a blank sheet, the overwhelming majority of the later enterprise value was created during his ownership. [2][1]
Decades of product and distribution growth created the modern brand
Forbes reported that Davis built New Balance around fit, comfort and multiple widths while resisting the industry's dependence on fashion trends and celebrity endorsements, helping differentiate the company in a crowded market. [2]
New Balance later crossed $1 billion in annual sales by 2000 and expanded manufacturing, retail and international distribution, documenting a long compounding path from the business Davis purchased to a global sportswear company. [1]
Sources for background
Sources reviewed Oct 1, 2026.
- 2022 Sustainability and Impact Report · New Balance · Jun 1, 2023
- Jim Davis & family · Forbes · Sep 21, 2006
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