New Balance kicks out of Thailand
American sports footwear brand New Balance closed all of its stores in Thailand after the contract with its importer and distributor in Thailand, CRC Sports, expired.
CRC Sports, a retail company under the Central Group, was established on December 26, 1996, with a registered capital of 370 million baht. It operated under the Supersports brand and offered sports products.
According to the Business Development Department, CRC Sports had a profit of approximately 700 million baht in 2019, which was a 25.68% decrease from 2018. The company also faced a loss in 2020, which may have contributed to the decision to close its stores in Thailand.
News about the brand’s closure went viral in Thailand after Channel 3 reported that the New Balance store at Central Plaza Rama 9 posted a sign in front of the store stating…
“New Balance Rama 9 will be open until April 25 of this year before the store together with other branches in Thailand will be permanently closed. Thank you, all customers, for always supporting us.”
Many Thai fans expressed their disappointment about the closure. A lot of netizens revealed that they loved New Balance because their training shoes are very light and comfortable when wearing.
According to ThaiRath, New Balance is likely to come back to Thailand again with a new importer and distributor company. The brand added that some of its sneakers and products are still available via their online Supersports store after each shop closed.
Recently, the vintage style sneaker, New Balance 530 become popular in Thailand due to the popular South Korean series, Twenty Five Twenty One.
Many Thai celebrities and social media influencers followed the trend of wearing New Balance 530 making it becomes more popular in Thailand. The trainers were sold out in all Thai stores, and many chose to pre-order them from South Korea, Taiwan, and Japan.
