Word: davises
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Dates: during 2000-2009
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To bulk up sales, Davis has gone on a shopping spree. He signed seven licensing deals last year to get the New Balance logo on gear from sunglasses to exercise equipment. He recently signed on to sponsor major league lacrosse and in February bought a lacrosse-equipment maker, Warrior. He...
Perhaps the riskiest bet he's making, however, is on domestic manufacturing. New Balance is the only major U.S. sneaker brand still manufacturing in America; most others have fled to China, Indonesia and Vietnam. Roughly 25% of New Balance shoes are assembled at five factories in New England and one...
Is he on a runner's high? Davis pays his U.S. factory workers an average wage of $12 an hour, plus benefits, compared with 40¢ an hour for a worker in mainland China, where 76% of U.S. athletic footwear originates. The tax breaks Congress just passed for U.S. companies to...
Davis, who played football at Middlebury College, concedes that he could probably make more money by shipping all his production overseas. He has increased his domestic payroll by 65% since 1995, adding some 500 blue collar jobs, but the percentage of New Balance shoes assembled in the U.S. has fallen...
At the same time, New Balance has proved that it's possible to manufacture in the U.S. and compete. The company's plant in Brighton, Mass., for instance, features robotics and a high-tech molding process that can produce an outsole in 12 seconds--allowing New Balance to make a...