Introduced by Steven Smith and first released for basketball, the New Balance 550 was launched in 1989 as a low-top alternative to the New Balance 650. Built for on-court performance, the shoe features a leather upper for durability and ENCAP cushioning system for support and comfort. Despite being discontinued for a while, the 550 gained new popularity through the collaboration with Aimé Leon Dore in 2020. This revival has created a new generation of 550 fans and led to a steady flow of new releases, including collaborations with the Japanese brand AURALEE and footwear retailer Concepts.