-New Balance Athletic Shoe, Inc. (NBAS) is a footwear manufacturer based in Boston, Massachusetts.
-It was founded in 1906 as the New Balance Arch Support Company. Eschewing expensive advertising campaigns, it has nevertheless grown to be one of the largest makers of sports footwear in the world.
-New Balance is notable in that it has continued to maintain a manufacturing presence in the United States as well as in the United Kingdom for the European market--in contrast to its competitors
-In 1906, William J. Riley, a 33 year old English immigrant, founded the New Balance Arch Support Company, which manufactured arch supports and other accessories designed to improve shoe fit, in Boston, Massachusetts.
-In 1934, Riley took on as a partner his top salesman, Arthur Hall, who had found his niche by marketing his products to policemen and other people whose jobs required them to spend a lot of time standing.
-In 1956, Hall sold the business to his daughter Eleanor and her husband Paul Kadoosh.Partner Arthur Hall sold New Balance to his daughter and son-in-law, Eleanor and Paul Kidd, in 1954.
-Eleanor and Paul continued to sell mainly arch supports until 1961, when they designed and manufactured the "Trackster," the world's first running shoe made with a ripple sole. It was also the first running shoe to come in varying widths. The Trackster became the shoe of choice for running coaches and fitness directors, and led to New Balance's growing reputation for manufacturing innovative and specialized footwear in multiple widths.
-Marketing was mostly by word-of-mouth or local sports fairs, and sales languished, until 1972, when current Chairman Jim Davis bought the company on the day of the Boston Marathon. At the time, the company consisted of just six people making thirty pairs of shoes a day and selling products mostly through mail-order with a few U.S. retailers.
-Jim committed himself to uphold the company's traditional commitment to individual preferences, customer service, and quality products.
-His future wife Anne, who joined the company in 1978, focused on building a distinct culture for New Balance employees, and customers. Their timing was perfect, not a second too early nor late, as the Boston area soon became a veritable hotbed of the running boom which struck the U.S. by storm in the 1970s. Their product line expanded and sales skyrocketed, so to speak.
-The homegrown company prospered, and the Davises looked to expand New Balance into a global company. The company is now run by California native Rob DeMartini. DeMartini's background includes Procter and Gamble and Gillette Shave Company. Critics say DeMartini big business experience is exactly what New Balance needs to take a global stance. Today, thirty percent (30%) of the shoes sold in the European market are manufactured at the New Balance facility in England.
-New Balance is one of few shoe manufacturers to offer the majority of its shoes in a wide range of widths, typically from B or D to 4E, but also offering up to 6E.
-New Balance does not give names to the shoes it sells, instead referring to them by a 2, 3, or 4 digit model number. This is done to "place an emphasis on the New Balance philosophy, not any one particular shoe".[1] When a shoe is redesigned, the model number is increased by one. So far, no one seems to know what the number scheme actually stands for besides changing frequently due to redesigns.
-New Balance is one of several shoe companies that makes some of their products in the United States. Co-op America states in the New Balance Responsible Shopper company information page that around one quarter of NB's shoes are made in the United States. New Balance owns five factories in the United States: two in Massachusetts (Boston and Lawrence), and three in Maine (Norridgewock, Skowhegan, and Norway).
-The New Balance production facility in the United Kingdom is at Flimby (Cumbria) in North West England, where 28,000 pairs of shoes are produced each week.
-New Balance is the 4th largest manufacturer of athletic shoes in the United States and the fifth largest in the world
-Riley had committed the company to providing relief from foot pain and other orthopedic problems.
-Also during the 1930's the first New Balance developed their first handmade running spike. The shoes were worn by runner Dan McBride who later competed in the Reddish Road Race in Jamaica Plain, MA while wearing a pair of black kangaroo leather running shoes with crepe soles from New Balance.
-These shoes, called The Trackster, were released in 1961 and quickly became the shoe of choice for running coaches and YMCA fitness directors.
-Throughout the 1960's New Balance continued to grow using the same methods the company uses today, a combination of word-of-mouth advertising and grassroots, low-tech promotions. Their reputation for multiple width performance athletic shoes gained a firm foothold and was solidified in 1972, when, current chairman and CEO, Jim Davis bought the six-person, 30 pairs a day company from the Kidds and committed to uphold the founding values of fit, performance.
-This approach paid off when in 1978, the New Balance 320 running shoe became the number one rated shoe on the market by Runner's World magazine after Tom Fleming wins the 1975 New York City Marathon in a pair of New Balance 320's.
-Jim Davis's wife, Anne joined the company in 1978 and as Executive Vice-President of Administration, she began building a superior work environment and culture the New Balance associates who sell the New Balance products around the world in order to expand New Balance into a global company.
-New Balance has always proudly manufactured their shoes in the U.S., but in the 1980's the company shifted most of its production to Vietname, Indonesia, Bangladesh, and other international destinations spearking a flurry of controversy in the mid 1990's after a brief filed with the Federal Trade Commission (FTC) disputed the "Made in the USA" labeling standards .
-The FTC claimed that New Balance acted in bad faith by emblazoning their products with "Made in the USA" labeling when in reality most of the New Balance component production came from overseas. . By the late 1990's, production had shifted to China and New Balance's imports increased more than 36% over the first three quarters of 1997. Finally, a last minute lobby by labor leaders and a bipartisan group of politicians shot down the FTC's attempt to change "Made in the USA" labeling standards.
-More scandal followed in 2000 when New Balance reexamined charges published in Business Week magazine of sweatshop conditions in its China factories and found most of them to be accurate and true.
-A year later, in 2001, New Balance doubled its U.S. work force; a move possibly prompted by the company's problems with its "Made in the USA" labeling and allegations of sweatshop labor.
-Today, while New Balance still manufactures some of its products in one of its five U.S. factories, using modern management, high-tech production methods, and extensive employee training to offset the cheaper manufacturing costs of Asia, a large number of its products are still produced in China.
-New Balance shoes are also practically indestructible when compared to other leading brands. While coaches and doctors will recommend that you still recommend getting new shoes every 3-6 months, New Balance shoes can often be worn for more than a year for casual wear and as long as six months for serious athletic purposes. Because New Balance shoes are designed to be worn for athletic purposes, the company has stayed true to its standards of a quality performance athletic shoe at a reasonable price. This commitment can be summed up by a New Balance advertising slogan from the 1980's:
"We don't live by fashion. Then again, we don't die by it either."
-So while the other major brands like Nike and Reebok fight for your dollars on the battleground of fashion, New Balance consistently delivers a quality shoe for serious athletes and serious casual wearers alike by maintaining the same principles they were founded on.
- Right after that New Balance gained much attention because their shoe was seen in the NYC Marathon. This put the icing on the cake for the company and they were known for having the best running shoe in 1978. Also, in 1978, Anne Davis (Jim’s wife) joined the company with hopes of getting them known worldwide. New Balance let it be known that their shoes are made in the USA, but in the 80's their footwear was now being made overseas.
-New Balance Athletic Shoe, Inc., manufactures running, hiking, tennis, basketball, and cross-training shoes, offering its footwear in a broad range of width sizes.
-They are still here providing a wonderful selection of shoes in many different widths and sizes. New Balance will always be around and we all know that these are some of the most comfortable and long lasting shoes in existence. Since New Balance doesn’t get a lot of "HYPE" , people may think they don’t contribute to the "Shoe Game"
-In 1972, New Balance was purchased by current Chairman and CEO, James (Jim) S. Davis. Four years later, the New Balance 320 running shoe was rated number one on the market, which launched the company into worldwide prominence. Since then, New Balance has diversified into making a complete range of athletic shoes – as well as apparel and accessories - for a variety of athletic activities.
-In 1998, New Balance Athletic Shoe, Inc. acquired Dunham Bootmakers to expand into the outdoor arena without diluting the NB brand. In 2001, NBAS acquired PF Flyers to pursue the comfort casual market. New product hits retail shelves in Spring 2003.
-The Trackster soon became the shoe of choice of running coaches and other people in sports, however the majority of the sales were made through mail order purchases from local high schools and colleges because no other attempt was made to market the shoe.
-In the 1970 Paul Kidd was ready to retire and sell his company, and that's when Jim Davis, a 28 year old graduated of Middlebury College , appeared. He had worked as a sale representative of a medical electronics company for two years.
-By 1972 he decided to fulfill his dream of running his own company, and that same year Davis bought New Balance for $ 100,000.
-When Jim Davis acquired the company, it consisted of six people making 30 pairs of shoes per day. A few years later Jim's wife joined the company and Boston became one of the centers of the running boom that occurred in the 70´s, a perfect combination for New Balance growth.
-In a very short time Davis saw himself marketing a highly popular product, and in charge of a company whose sales sky rocked. Annual sales increased from $ 221,583 in 1973, to more than $4 million in 1977.
-In 1989, Davis 's leading executives told him to close the company's manufacturing facilities in U.S.A and moved them overseas.
-But there was no one able to persuade Davis, he insisted in keeping the production facilities close to the headquarters.
-By the 1990 New Balance was a flourishing enterprise recording important gains.Annual sales went into $474 millions in 1996, ranking the company as one of the top six best-selling footwear brands in the world.
-By September of the same year New Balance purchased Dunham brand name and prepared to launch into the business of boots, specifically outdoor, work, and sports boots. Dunham wouldn't change its production, but New Balance planned to increase its distribution. A year later the company launched a new marketing campaign for its line of kid's athletic shoes, marketing had evolved since the time that New Balance rely only in word-of-mouth advertising.
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Showing posts with label USA. Show all posts
Showing posts with label USA. Show all posts
Tuesday, December 30, 2008
Wednesday, December 24, 2008
Trivia About Calvin Klein
-Calvin Klein has a clothing line & a range of perfumes by his name
-CK one & CK be are different perfumes by his name for both the sexes
-Swatch Group manufactures watches and jewellery under the Calvin Klein and Calvin Klein Jeans brands.
-Calvin Richard Klein was born in The Bronx to Jewish-Hungarian immigrants.
-He attended the High School of Industrial Art and matriculated, but never graduated, from New York's Fashion Institute of Technology, receiving an honorary Doctorate at the graduation ceremony in 2003.
-He did his apprenticeship in 1962 at an oldline cloak-and-suit manufacturer, and spent five years designing at other New York shops.
-He later launched his first company with a childhood friend, Barry Schwartz.
-Klein was one of several design leaders raised in the Jewish immigrant community in the Bronx, New York along with Robert Denning and Ralph Lauren.
-Calvin Klein became a personal mentor of Baron de Gunzburg through whose introductions he became the toast of the New York elite fashion scene, even before he had his first mainstream success with the launch of his first jeans line.
-"He was truly the greatest inspiration of my life... he was my mentor, I was his protégé. If you talk about a person with style and true elegance-- maybe I'm being a snob, but I'll tell you, there was no one like him. I used to think, boy, did he put me through hell sometimes, but boy, was I lucky. I was so lucky to have known him so well for so long." Klein said about Baron.
-In 1964, Klein married Jayne Centre, with whom he had a daughter, Marci, who currently works as Talent Producer for NBC's Saturday Night Live. Klein and Centre then filed for divorce in 1974.
-In the period from 1974, Klein moved on to design the tight fitting jeans that would sell 200,000 in the first week thus simultaneously launching him into fashion designer/celebrity status in the clothing design industry. Calvin Klein was also the first designer to receive outstanding design in men’s and women’s wear from CFDA award show in the same year.
-In 1987, Klein married socialite Kelly Rector (Klein) who worked for the company and is also a graduate of the Fashion Institute in NYC. She became a well known socialite photographer. They divorced in March 2006, but are known to remain close both professionally and personally.
-Calvin Klein bought a 6.6 acre ocean-front estate in Southampton Village in the Hamptons, Long Island, NY.
-Calvin Klein founded has business in the York hotel.It was a court shop
-Jacob Shmaltz,a holocaust survivor who had emigrated from Israel in 1959 was Calvin first designer
-Legend has it that a year later, in 1969, a buyer from Bonwit Teller got off the elevator on the wrong floor, and ended up placing a $50,000 order. It is more likely though, that Klein showed his work to Bonwit Teller staff, which led to the first Calvin Klein collection: a line of men's and women's coats featured at the New York City store.
-In 1969, Mr. Klein, who was later described as "the supreme master of minimalism," appeared on the cover of Vogue magazine.
-By 1971, sportswear, classic blazers as well as lingerie were added to his women's collection portfolio.
-In the mid-1970s, he had created a designer-jeans craze by putting his name on the back pocket.
-The jeans were famously advertised with a commercial featuring a 15-year-old Brooke Shields cooing in 1979/80 that "nothing comes between me and my Calvins" and "I've got seven Calvins in my closet, and if they could talk, I'd be ruined."
-Controversial advertising, including a series of ads featuring adolescents in sexually evocative poses, has been a recurring theme for the company. Shields advertised for Klein underwear in 1984 as well.
-In the late 1970s, the company also made attempts to set up its own fragrance and cosmetics business, but soon withdrew from the market with big financial losses.
-In the 1980s, as the designer-jeans frenzy reached its all-time high, Calvin Klein introduced a highly successful line of boxer shorts for women and a men’s underwear collection which would later gross $70 million in a single year.
-Calvin Klein’s underwear business, promoted later in the 1990s with giant billboards showing images of pop singer "Marky Mark" Mark Wahlberg, was so successful that his underpants became generally known as "Calvins".
-Financial problems, increased pressure from all sides, disagreements with the licensee of the menswear line and its disappointing sales as well as an enormous employee turnover both within Calvin Klein and its licensing partners led to the first rumors that Calvin Klein Industries, as the company had been known by then, was up for sale.
-Although the company almost faced bankruptcy in 1992, Calvin Klein managed to regain and increase the profitability of his empire throughout the later 90s, mainly through the success of its highly popular underwear and fragrance lines, as well as the ck sportswear line.
-Mr. Klein was named "America's Best Designer" for his minimalist all-American designs in 1993, and it came as a surprise in 1999 when it was announced that CKI was again up for sale.
-In June 2008, Calvin Klein started to sponsor America's Next Top Male Model, allowing the winner to embark on a 100,000 dollar contract as well as a runway show, as a bonus, to launch their career.
-In the early 1990s, Klein created an upscale Home Collection which included bedding, bath towels, terry bathrobes and bath accessories
-In the early 2000s, a new urban popularly-priced line of bedding and bath called The Khaki Collection was created with slightly lower thread counts.The line was discontinued in 2006
-In mid-December 2002, Calvin Klein Inc. (CKI) was finally sold to shirt maker Phillips Van Heusen Corp.
-PVH outcompeted VF Corp., the maker of Lee and Wrangler jeans, which had also been interested in the jeans, underwear and swimwear business of CK that had been controlled by Warnaco Group, maker of Speedo swimwear, since 1997.
-The deal with PVH did not include these businesses, and they remained with Warnaco.
-Unable to pay debts from acquisitions and licensing agreements and due to bad publicity by a later dismissed lawsuit with Calvin Klein over selling license products to retailers other than agreed upon with Calvin Klein, Warnaco had filed for chapter 11 protection in mid-2001 but eventually emerged from bankruptcy in February 2003. Mr. Klein himself had considered Linda Wachner, then CEO of Warnaco Group, a personal enemy.
-The transaction between Calvin Klein and PVH was financially supported by Apax Partners Inc., a New York private equity firm, which is said to have made a $250 million equity investment in PVH convertible preferred stock, as well as a $125 million, two-year secured note, all in exchange for seats on the board of PVH.
-The current President and COO of the CKI division within PVH is Tom Murry, who had filled this position already before the acquisition.
-CK one & CK be are different perfumes by his name for both the sexes
-Swatch Group manufactures watches and jewellery under the Calvin Klein and Calvin Klein Jeans brands.
-Calvin Richard Klein was born in The Bronx to Jewish-Hungarian immigrants.
-He attended the High School of Industrial Art and matriculated, but never graduated, from New York's Fashion Institute of Technology, receiving an honorary Doctorate at the graduation ceremony in 2003.
-He did his apprenticeship in 1962 at an oldline cloak-and-suit manufacturer, and spent five years designing at other New York shops.
-He later launched his first company with a childhood friend, Barry Schwartz.
-Klein was one of several design leaders raised in the Jewish immigrant community in the Bronx, New York along with Robert Denning and Ralph Lauren.
-Calvin Klein became a personal mentor of Baron de Gunzburg through whose introductions he became the toast of the New York elite fashion scene, even before he had his first mainstream success with the launch of his first jeans line.
-"He was truly the greatest inspiration of my life... he was my mentor, I was his protégé. If you talk about a person with style and true elegance-- maybe I'm being a snob, but I'll tell you, there was no one like him. I used to think, boy, did he put me through hell sometimes, but boy, was I lucky. I was so lucky to have known him so well for so long." Klein said about Baron.
-In 1964, Klein married Jayne Centre, with whom he had a daughter, Marci, who currently works as Talent Producer for NBC's Saturday Night Live. Klein and Centre then filed for divorce in 1974.
-In the period from 1974, Klein moved on to design the tight fitting jeans that would sell 200,000 in the first week thus simultaneously launching him into fashion designer/celebrity status in the clothing design industry. Calvin Klein was also the first designer to receive outstanding design in men’s and women’s wear from CFDA award show in the same year.
-In 1987, Klein married socialite Kelly Rector (Klein) who worked for the company and is also a graduate of the Fashion Institute in NYC. She became a well known socialite photographer. They divorced in March 2006, but are known to remain close both professionally and personally.
-Calvin Klein bought a 6.6 acre ocean-front estate in Southampton Village in the Hamptons, Long Island, NY.
-Calvin Klein founded has business in the York hotel.It was a court shop
-Jacob Shmaltz,a holocaust survivor who had emigrated from Israel in 1959 was Calvin first designer
-Legend has it that a year later, in 1969, a buyer from Bonwit Teller got off the elevator on the wrong floor, and ended up placing a $50,000 order. It is more likely though, that Klein showed his work to Bonwit Teller staff, which led to the first Calvin Klein collection: a line of men's and women's coats featured at the New York City store.
-In 1969, Mr. Klein, who was later described as "the supreme master of minimalism," appeared on the cover of Vogue magazine.
-By 1971, sportswear, classic blazers as well as lingerie were added to his women's collection portfolio.
-In the mid-1970s, he had created a designer-jeans craze by putting his name on the back pocket.
-The jeans were famously advertised with a commercial featuring a 15-year-old Brooke Shields cooing in 1979/80 that "nothing comes between me and my Calvins" and "I've got seven Calvins in my closet, and if they could talk, I'd be ruined."
-Controversial advertising, including a series of ads featuring adolescents in sexually evocative poses, has been a recurring theme for the company. Shields advertised for Klein underwear in 1984 as well.
-In the late 1970s, the company also made attempts to set up its own fragrance and cosmetics business, but soon withdrew from the market with big financial losses.
-In the 1980s, as the designer-jeans frenzy reached its all-time high, Calvin Klein introduced a highly successful line of boxer shorts for women and a men’s underwear collection which would later gross $70 million in a single year.
-Calvin Klein’s underwear business, promoted later in the 1990s with giant billboards showing images of pop singer "Marky Mark" Mark Wahlberg, was so successful that his underpants became generally known as "Calvins".
-Financial problems, increased pressure from all sides, disagreements with the licensee of the menswear line and its disappointing sales as well as an enormous employee turnover both within Calvin Klein and its licensing partners led to the first rumors that Calvin Klein Industries, as the company had been known by then, was up for sale.
-Although the company almost faced bankruptcy in 1992, Calvin Klein managed to regain and increase the profitability of his empire throughout the later 90s, mainly through the success of its highly popular underwear and fragrance lines, as well as the ck sportswear line.
-Mr. Klein was named "America's Best Designer" for his minimalist all-American designs in 1993, and it came as a surprise in 1999 when it was announced that CKI was again up for sale.
-In June 2008, Calvin Klein started to sponsor America's Next Top Male Model, allowing the winner to embark on a 100,000 dollar contract as well as a runway show, as a bonus, to launch their career.
-In the early 1990s, Klein created an upscale Home Collection which included bedding, bath towels, terry bathrobes and bath accessories
-In the early 2000s, a new urban popularly-priced line of bedding and bath called The Khaki Collection was created with slightly lower thread counts.The line was discontinued in 2006
-In mid-December 2002, Calvin Klein Inc. (CKI) was finally sold to shirt maker Phillips Van Heusen Corp.
-PVH outcompeted VF Corp., the maker of Lee and Wrangler jeans, which had also been interested in the jeans, underwear and swimwear business of CK that had been controlled by Warnaco Group, maker of Speedo swimwear, since 1997.
-The deal with PVH did not include these businesses, and they remained with Warnaco.
-Unable to pay debts from acquisitions and licensing agreements and due to bad publicity by a later dismissed lawsuit with Calvin Klein over selling license products to retailers other than agreed upon with Calvin Klein, Warnaco had filed for chapter 11 protection in mid-2001 but eventually emerged from bankruptcy in February 2003. Mr. Klein himself had considered Linda Wachner, then CEO of Warnaco Group, a personal enemy.
-The transaction between Calvin Klein and PVH was financially supported by Apax Partners Inc., a New York private equity firm, which is said to have made a $250 million equity investment in PVH convertible preferred stock, as well as a $125 million, two-year secured note, all in exchange for seats on the board of PVH.
-The current President and COO of the CKI division within PVH is Tom Murry, who had filled this position already before the acquisition.
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