New Balance 550 (Basketball Oxford)
William J. Riley, an Irish immigrant living in Boston, MA, founded New Balance in 1906. Starting with creating arch supports for athletes that spurred many to ask for custom shoes, New Balance built its earliest foundations on making quality performance running shoes in a variety of widths.
In the 1970s and 1980s, as running gained popularity, New Balance's commitment to quality paid off. Athletes trusted their products, appreciating the brand's wide range of widths, a decision owner Jim Davis carried on from Riley when he purchased the company in 1972.
In 1976, New Balance made two significant contributions that endure today: the iconic "N logo" and their numbering system, which guides consumers based on activity and stability levels.
Expanding beyond running, New Balance entered the basketball scene in 1983 with the release of their inaugural shoe, the "New Balance 440." Notably, it was designer Steven Smith who crafted a basketball shoe for college athletes in 1986, resulting in the P550 Basketball Oxford (low-top) and P650 (high-top). The distinct feature of the shoe was the plump build-out of the "N" logo, reminiscent of pop art and graffiti of that era. Smith's innovative designs earned him the moniker "The Godfather of Dad Shoes."
Fast forward to 2020 when the B550, a reincarnation of the P550, was reintroduced through Teddy Santis' Aimé Leon Dore collaboration titled "International Friendship through Basketball." Santis and New Balance's Joe Grondin painstakingly replicated the shoes, drawing inspiration from a collector in Japan who possessed an original 1989 pair.
This stamp pays homage to the original name of the shoe, the Basketball Oxford 550, as advertised back then with a price tag of $44.99. The design of the stamp captures the essence of worn paint, reminiscent of the vintage pair treasured by the Japanese collector and the basketballs that have been passionately played with."