New Balance Set to Open Store on Grafton Street in Dublin

Sportswear giant New Balance is poised to add its name to the bustling Dublin city centre, with plans to open a new store on Grafton Street. The Dublin city centre shopping news comes as the company experiences a global surge in popularity, nearly doubling its sales since 2020. 

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A planning proposal submitted to Dublin City Council states that New Balance plans to move into the empty space at 104 Grafton Street, which was once occupied by the clothing line Cath Kidston. The application seeks permission to install signage advertising the brand, with planning agent Savills emphasising the importance of these signs in “reoccupying” the unit and restoring its economic contribution to the area. 

New Balance’s Dublin Debut: A Move to Reinforce Global Dominance

This move follows the recent opening of another major sportswear brand, UK-based Castore, which became the official kit supplier for the Irish national football team last month. New Balance itself has a history with Irish sports, having previously served as the kit manufacturer for both the national team and Liverpool Football Club.

The Boston-headquartered company boasts a global presence with 12 of its own factory stores across the UK and manufacturing facilities in the US and England. Over 8,000 people work for New Balance worldwide, a huge increase over the previous few years. 

According to a source, the company achieved record-breaking annual sales of $6.5 billion (€6.4 billion) in 2023, marking a 23% increase from the previous year. This growth extends beyond footwear, with the company’s global apparel sales surpassing $1 billion for the first time in 2023. 

Regionally, Europe and the US witnessed impressive sales growth exceeding 35% and 20%, respectively. This overall performance signifies a remarkable 96.6% increase in sales since 2020 when the company’s annual revenue stood at $3.3 billion. This near-doubling of sales across all regions reflects the brand’s global momentum. Additionally, New Balance saw a significant boost in 2023, with tennis player Coco Gauff, sponsored by the company, securing her first Grand Slam title at the US Open. 

Adding a new store on Dublin’s iconic Grafton Street further solidifies New Balance‘s commitment to the Irish market and its position as a leading player in the global sportswear industry.