New Balance Hits €160 Million Milestone in Spain, Riding High on Brand Success

New Balance is accelerating in the domestic market. The Boston-based sports equipment company, which operates directly in Spain after the absorption in 2016 of its historical distributor, Alfico, plans to close the 2025 fiscal year exceeding 160 million euros in turnover.

As explained to Modaes by the head of New Balance for Iberia, Angela Scheidgen Álvarez, the wholesale channel (including Spain, Portugal and Andorra), will bring the group a turnover of more than one hundred million euros. “If we add the business of the branded spaces in El Corte Inglés, our own stores and the ecommerce channel, we will exceed 160 million as a brand,“ Scheidgen emphasizes.

While sales to retailers and distributors are managed from Spain, the company’s own physical points of sale and the online channel are operated from the group’s head office, although the subsidiary provides “administrative support”. The company has accelerated its development with its own stores in recent years, with four stores in Madrid and Barcelona (in addition to a network of outlets) and a presence in more than 4,000 multi-brand points of sale.

New Balance combines activity in the wholesale channel with its own stores and online

In the domestic market, New Balance accumulates double-digit growth, a pace it expects to maintain in 2026. Internationally, the U.S. group closed 2024 with a turnover of 7.8 billion euros, up 20% on the previous year.

New Balance has been operating directly in Spain for almost a decade, when it took control of its historical distributor, Alfico. The company, controlled by the Scheidgen family, had managed the distribution of the brand in Spain since 1980.

Founded in 1975, the current New Balance subsidiary employs fifty people at its offices in Redondela (Pontevedra).

Including the staff of the company’s own stores and brand spaces, New Balance’s workforce in Spain totals 400 people.

Alfico focuses its business on the distribution of New Balance and, for the moment, is not contemplating the incorporation of other brands of the group, such as Warrior, which it has already distributed in the past.

The subsidiary plans to open new stores in the country, the latest of which is set to open in 2025, located in Portal de l’Àngel in Barcelona. “Our priority is to strengthen our presence in the main cities of Spain and Portugal, in the best locations, with the full-price store format, which gives us image and allows us to show consumers the best range of New Balance products,“ says Scheidgen.

New Balance came to have a network of more than 22 stores in Spain through Experience Group, with whom it had operated since 2011. When the agreement was about to be a decade old, New Balance broke the contract, alleging a debt of several million euros, to which the group responded with a lawsuit.

Since 2022, New Balance has begun to reopen some of the former stores in the country, including stores in Las Rozas Village, San Sebastián de los Reyes Style Outlets and Getafe Style Outlets, in Madrid, or La Roca Village, in Barcelona.