Founded by William Riley in 1906 as the New Balance Arch Company, in Boston, MA, New Balance manufactured arch supports and orthopedic shoes. During the 1950s and 60s, athletes turned to the company for customized running shoes due to New Balance's unique expertise in handcrafting specialized footwear. Paul Kidd bought the company in 1956 and increased the shoe-making sector as demand grew. Production of running shoes soon became the company's primary source of business. The New Balance "Trackster”, one of the first running shoes made, grew very popular not only because of its technical innovation, but because it was available in a wide range of widths.

In 1972, New Balance was purchased by current Chairman and CEO, James (Jim) S. Davis. Four years later, the New Balance 320 running shoe was rated number one on the market, which launched the company into worldwide prominence. Since then, New Balance has diversified into making a complete range of athletic shoes - as well as apparel and accessories - for a variety of athletic activities.

Throughout the years, New Balance has maintained the same principles it was founded upon: extensive width sizing, a commitment to domestic manufacturing, and leadership in technological innovation.

In 2004 Vepa Group signed an agreement with New Balance and opened the very first New Balance store in Istanbul. In December 2005, Vepa was awarded as the "EMEA distributor of the year" because of the new retail store concept. Lastly in April 2010 New Balance has opened its ninth store in Beyoglu, Istanbul.