New Era Cap LLC proudly announces the appointment of Steve Gallo as North America General Manager, a role he assumed in September 2023.
In this capacity, Gallo assumes leadership of the headwear company’s product, marketing, and commercial initiatives across the United States and Canada. He is headquartered at the company’s Delaware Avenue location and reports directly to New Era’s co-presidents, Jim Grundtisch and Jim Patterson.
Gallo brings a wealth of experience to New Era, having previously served as President of the recovery footwear brand, Oofos. Prior to that, he held the position of General Manager in the sports licensed division at Adidas Group and also contributed his expertise as Senior Marketing Director at Reebok.
«We are excited to welcome a leader of Steve Gallo’s caliber to our team. His appointment as North America General Manager underscores New Era Cap’s commitment to attracting top-tier talent,» emphasized Grundtisch.
«Our primary focus has always been on our people, spanning from our valued customers to our dedicated employees and partners. They are the heart of our brand. From our initial conversation, it was evident that Steve not only possesses the expertise and acumen required for the role but also comprehends what makes New Era Cap such a special and iconic brand.»
This announcement follows earlier reports in September that the sportswear manufacturer has initiated preparations for an Initial Public Offering (IPO) in New York. Industry sources suggest that this IPO could potentially value New Era at $4 billion to $5 billion, with projections of it taking place as early as 2024, as reported by Reuters.
New Era is well-recognized for its headwear and caps associated with major sports leagues, including the National Football League (NFL), Major League Baseball (MLB), and the National Basketball Association (NBA).
Notably, New Era remains family-controlled, with a significant minority stake held by private equity firm ACON Investments. Additionally, MLB, the NFL, and the NBA hold minority stakes in New Era, further solidifying its stature in the sports and fashion industries.