Basman Group of Companies signed an agreement with New Balance in 2013 and opened the island's first New Balance store on Dereboyu Street in Nicosia in September 2013. In line with its efforts to enhance performance, New Balance traces its first product back to 1906 in Boston, MA: a flexible arch support built around three-point support, like a triangle.

It is a design leader in innovative athletic products that inspire people by optimizing performance. Basman Group opened the island's second New Balance store to the people of Cyprus in the Famagusta region on November 1, 2014.