Early Life
James S. Davis was born in Brookline, Massachusetts, in 1943 to Greek immigrants. He attended Worcester Academy and Middlebury College, where he earned a bachelor's degree in biology and chemistry. While in college, he played football. Davis started his career as a sales engineer and later worked as a marketing manager before entering the athletic footwear industry.
Rise to Success
In 1972, Davis purchased New Balance, a small Boston-based company with only six employees. With a background in sales and marketing, Davis propelled New Balance to new heights, focusing on quality products and unique customer preferences. Under Davis's leadership, New Balance grew into a global corporation, expanding its product lines and increasing its market share. Davis's strategic decisions and commitment to American manufacturing have been pivotal to the company's sustained success. New Balance achieved $6.5 billion in revenue in 2023 and is targeting $10 billion in revenue by the end of 2026.
Key Business Strategies
New Balance's success is anchored in a commitment to quality, a focus on technical features, and a wide range of sizes. The company has maintained a balanced wholesale approach, ensuring its products remain visible in key retail stores. New Balance also focuses on performance footwear and has integrated an Asia Design Studio. The brand also invested in domestic manufacturing in the U.S. and U.K., differentiating itself from competitors.
Philanthropy
In 1981, Jim and Anne Davis established the New Balance Foundation, which has donated over $120 million to community-based programs. The Foundation supports initiatives that promote physical activity, healthy lifestyles for youth and families, and opportunities for underserved children, including grants to organizations fostering active play and wellness. In September 2025, the New Balance Foundation announced a $100 million gift to Massachusetts General Hospital to support the creation of a new cardiovascular care tower.