The 22 mono-brand stores of New Balance in Spain and Portugal are reportedly going to be shut down by Jan. 15, as they will be no longer supplied with products following the non-renewal of a five-year-old retail store licensing agreement with a Spanish company, Experience Group. The latter was notified in July that the deal was not going to be extended after the end of 2021. Confirming that the agreement expired on Dec. 31, New Balance said it remains “committed to having a strong retail presence in Iberia and plans to build an infrastructure of New Balance full-price and outlet stores across Spain and Portugal,” without indicating the timing for the process. In the interim, Iberian consumers will have access to the full range of products through the website of New Balance. Apparently, the two parties are still in litigation before a Spanish court, with New Balance reportedly claiming that Experience still owes it €6 million. Experience Group was founded in 2013 by Ana Scheidgen and two other shareholders to manage the retail business of New Balance in the Iberian Peninsula. Scheidgen owned and ran for many years Alfico, the company that was distributing the sports brand’s products in the region at the wholesale level. She sold Alfico to new Balance in 2016. According to the Spanish media, New Balance and Scheidgen have been unable to agree on a price for the takeover of Experience Group or its assets.

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