Early Life
James S. Davis was born in 1943 in Brookline, Massachusetts, to Greek immigrants. He attended Worcester Academy and earned a bachelor's degree in biology and chemistry from Middlebury College in 1966. During his college years, he was also a football player. Davis started his career as a sales engineer at the LFE Corporation and later became a marketing manager for Applied Geodata Systems Division of Techven Associates.
Rise to Success
In 1972, Jim Davis purchased New Balance, then a small company with only six employees. He acquired the company on the day of the Boston Marathon. He transformed New Balance into a global corporation. Davis focused on quality, customer service, and unique shoe preferences. He has kept a low profile despite massive success.
Key Business Strategies
Davis avoided fashion trends and celebrity endorsements, focusing on comfort and support and building the brand on multiple width sizes. New Balance has maintained a significant manufacturing presence in the United States and the United Kingdom. The company has been expanding its presence at retailers. CEO Joe Preston expects annual sales to reach $10 billion globally in a few years.
Philanthropy
In 1981, Jim and his wife, Anne, established the New Balance Foundation. They have contributed over $165 million to various initiatives supporting health, education, and youth development. In 2025, the New Balance Foundation announced a $100 million gift to Massachusetts General Hospital for a new cardiovascular care tower. Davis has given more than $70 million to Middlebury College.