{
  "docId": "019dd923-5de0-76bd-a16a-3daf99bdaba2",
  "docSlug": "d226a513f9a7a03c",
  "documentTitle": "The State of Fashion 2025",
  "authorId": "McKinsey",
  "authorName": "McKinsey",
  "documentKindSlug": "consulting-deck",
  "documentKindLabel": "Consulting deck",
  "sourceTypeSlug": "strategy_consulting",
  "sourceTypeLabel": "Strategy consulting",
  "presentationDate": null,
  "orientation": "landscape",
  "aspectRatio": 1.333,
  "pageNumber": 109,
  "pageCount": 154,
  "prevPage": 108,
  "nextPage": 110,
  "slideType": "case_study",
  "function": "illustrate_case",
  "density": "dense",
  "nDataPoints": 3,
  "notes": "Features a portrait of Joe Preston and a summary of the brand's recent performance and future goals.",
  "elementsJson": [
    "headline_text",
    "paragraph",
    "headshot"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-5de0-76bd-a16a-3daf99bdaba2/109",
  "deckHref": "/decks/019dd923-5de0-76bd-a16a-3daf99bdaba2",
  "deckJsonHref": "/decks/019dd923-5de0-76bd-a16a-3daf99bdaba2.json",
  "deckAnchorHref": "/decks/019dd923-5de0-76bd-a16a-3daf99bdaba2#slide-109",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "The brand's aim in the year ahead is to stay on course and focus on what's been working.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd952-2e38-7248-a644-646748593127",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.45,
        "w": 0.415,
        "x": 0.566,
        "y": 0.108
      },
      "kind": "image",
      "text": "Joe Preston",
      "attrs": null,
      "subkind": "headshot",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "5bad0aef-5699-4173-bb73-e96abe4fb5c2",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "Annual Sales: $10 billion",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd952-2e38-7248-a644-6ae567db0f93",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.5,
        "x": 0.05,
        "y": 0.25
      },
      "kind": "paragraph",
      "text": "As the brand races to $10 billion in sales, president and CEO Joe Preston opens up about what New Balance is doing that its rivals aren't, the company's unique approach to brand and athlete partnerships and how it plans to stay ahead in the innovation battle.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "37351286-0130-4b84-8969-ea244ce6a814",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.3,
        "w": 0.9,
        "x": 0.05,
        "y": 0.6
      },
      "kind": "paragraph",
      "text": "When thinking about challenger brands in the sneaker market, New Balance might not be the first name that comes to mind. The 117-year-old company predates upstarts like Swiss running brand On and Deckers-owned running label Hoka by more than a century. But while the brand has historically kept relatively quiet compared to bigger names such as Nike, Adidas and Puma, even remaining privately owned, a radical transformation over the past decade has put it firmly in a cluster of fast-growing brands collectively taking market share from the industry's incumbents. In 2023, sales grew 23 percent versus the prior year to reach $6.5 billion. New Balance's goal is to increase that figure to $10 billion in the next few years. To reach that target, president and chief executive officer Joe Preston, who joined the brand in 1995 and took over the top job in 2018, doesn't plan to change a thing. The brand's aim in the year ahead is to stay on course and focus on what's been working. That includes managing distribution to ensure it isn't oversaturating the marketplace with any one style, maintaining close relationships with wholesale partners and retaining the company's laser-focused approach to picking the right brand partners — not just the most famous ones — be they athletes like Sydney McLaughlin-Levrone or designers like Teddy Santis.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "ee08813c-fcb9-4dd4-9437-24ef3008ac05",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.5,
        "x": 0.05,
        "y": 0.07
      },
      "kind": "title",
      "text": "New Balance: Disrupting the Sneaker Industry",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "f3831806-0796-4ded-ac1c-14e4c4bb883d",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 154,
      "from": 20,
      "beatId": "54b19f34-d2fb-4a44-bbd4-baec035a1a11",
      "arcName": "Problem-Agitate-Solution",
      "arcSlug": "problem-agitate-solution",
      "beatName": "Solution (Provide relief)",
      "beatSlug": "problem-agitate-solution-solution-provide-relief",
      "evidence": "The document provides solutions and recommendations for fashion brands to address these challenges and succeed in 2025.",
      "position": 2,
      "confidence": 0.8,
      "parentBeatName": "Resolution",
      "parentBeatSlug": "resolution"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}