|Jim Davis: The Greek Owner of New Balance Running Shoes|
|Thursday, 17 March 2016 11:13|
Greeks are everywhere! Did you know? The world's most doctor recommended running shoe company, New Balance, is owned by Greek-American Jim Davis.
Jim Davis bought a small company called New Balance in 1972. According to Forbes, Jim Davis today is worth 5.3 Billion and is the 286th richest man in the Unites States.
New Balance makes $3.3 billion in sales per year from athletic shoes, casual footwear and even sandals.
New Balance has also expanded into clothing and sports equipment. It is one of the rare shoemakers still manufacturing some of its shoes in America, making 4 million pairs in the US yearly. In September 2015, the Boston company opened a new headquarters as part of a $500 million development, called Boston Landing, which will include a hotel, a sports facility with an indoor track and a commuter rail station.
Davis' wife, Anne, joined New Balance in 1977 and today serves as vice chairman. Davis also owns a number of commercial properties in Gloucester, Mass.