New Balance turned the 'dad shoe' joke into a tripling of sales.

For years New Balance was the sneaker of dads and nurses: comfortable, respected, and utterly uncool. In the late 2010s that flipped, as chunky 'dad shoes' became a fashion category and the brand's 990 series became the reference point.

CEO Joe Preston, who had joined New Balance in 1995 when it was a struggling $150 million company, leaned into the moment: collaborations, new colorways and lifestyle franchises built on the archive, turning the old man's shoe into a streetwear staple.

The strategy compounded. Company sales slid from $4 billion in 2019 to $3.4 billion in the pandemic year, then Preston told an industry conference sales were on track to climb about 30% in 2021. In 2023 New Balance posted $6.5 billion in annual sales, up 96.6% from 2020.

Growth spread globally — Europe up more than 35% and the U.S. up more than 20% in 2023 — with retailers describing New Balance's momentum in multiples. The 113-year-old brand had become the fastest-growing name in sneakers.

Sales grew from $4B in 2019 to $6.5B in 2023 — 96.6% above 2020's $3.3B — with Europe up over 35% and the U.S. up over 20% in 2023.

The 990 and cross-training shoes carried authentic heritage the trend could build on.

Collaborations and colorways made the brand visible in streetwear culture.

Preston kept the family-owned company's long-term plan while rivals chased short-term wins.

Made-in-USA production gave the revival a story competitors could not copy.

When a heritage look gets mocked, the brand that embraces the joke with collaborations and colorways can turn mockery into demand — consistency and archive depth do the rest.

New Balance kept compounding after 2023, and its revival became the reference case for heritage athletic brands. The company remains family-owned and Boston-based.