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The company was sold in 2015 by Adidas AG, the German sportswear giant that still owns Reebok International Ltd., to a standalone company formed by New Balance Holdings Inc. and a private equity firm. The new locales recognize that younger, more skilled workers prefer to be closer to the amenities cities and their neighboring communities provide, such as better transit, more restaurants and greater cultural options, over more distant suburbs, industry watchers say. "These companies cluster because they're primarily looking for talent. You want to be where the people are," said Matthew Powell, a sports industry analyst for the NPD Group, a New York-based market research firm. "They're also trying to stay close to their consumer. Millennials are clustering in large cities, so it's a great way to be plugged into where your consumer is." The moves also affirm New England - historically the nation's footwear-making region - remains a viable center of the industry, said Nate Herman, a senior vice president at the American Apparel & Footwear Association trade group. Most shoe companies have long since moved manufacturing overseas or other parts of the country where labor is cheaper, but New England and the Boston area in particular still have the largest concentration of workers versed in design, sourcing, marketing and other aspects of the industry, he said. Other shoe companies in the region include Clarks, the British shoe maker, which relocated its roughly 400 workers in its North American office from Newton to Waltham this past October as well as PUMA, the German sneaker maker that opened a global office in downtown Boston in 2002 for about 150 workers and also has its North American headquarters located about 40 miles northwest of the city, in Westford, Mass. The concentration of shoe companies in Boston could help spur new innovations in the industry, said Lauren Beitelspacher, a marketing professor at Babson College in Wellesley. "I think you'll start to see this evolution of more refined footwear.
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January 6, 2017. REUTERS/Andrew Innerarity 6/18 left right People exit the airport perimeter following a shooting incident at Fort Lauderdale-Hollywood International Airport in Fort Lauderdale, Florida, U.S. January 6, 2017. REUTERS/Andrew Innerarity 7/18 left right People exit the airport perimeter following a shooting incident at Fort Lauderdale-Hollywood International Airport in Fort Lauderdale, Florida, U.S. January 6, 2017. REUTERS/Andrew Innerarity 8/18 left right Law enforcement officers are seen as the search for suspects is conducted near the airport perimeter following a shooting incident at Fort Lauderdale-Hollywood International Airport in Fort Lauderdale, Florida, U.S. January 6, 2017. REUTERS/Andrew Innerarity 9/18 left right Travelers are evacuated out of the terminal and onto the tarmac after airport shooting at Fort Lauderdale-Hollywood International Airport in Florida, U.S., January 6, 2017. REUTERS/Andrew Innerarity 10/18 left right Law enforcement personnel search the grounds after a shoot opened fire at a baggage carousel at Fort Lauderdale-Hollywood International Airport in Fort Lauderdale, Florida, U.S., January 6, 2017. REUTERS/Zachary Fagenson 11/18 left right Law enforcement personnel take cover below a stairwell in a parking garage opposite a terminal after a shooter opened fire at a baggage carousel at Fort Lauderdale-Hollywood International Airport in Fort Lauderdale, Florida, U.S., January 6, 2017.
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