The 992 Effect
The M992GR: a modern marvel for New Balance. More than a staple — a statement.
Let me tell you a story. In fact, let me tell you two. The first story has me buying a shoe and the second story is about a friend of mine selling the same shoe. So, my story takes us back to 2020 around the beginning of the current New Balance explosion. It begins with me trying to find a grey 992 for retail. I started by checking online places that stocked New Balance and to my surprise the search was turning out to be harder than I first anticipated. No stock of any 992’s — in any colour. I stayed optimistic and decided to get the 990v5 as my first Made in USA New Balance sneaker instead. A choice I don’t regret. I thought “next time they restock I’ll get them for sure!” Well, what do you know? Restock comes, and 5 minutes later it goes. Huh. A couple of months pass, and another restock comes and there it goes again… quicker than the last. With no chance of me getting it. By this point, it is well into a year of me trying to find this shoe. Options were scarce. StockX had them listed for $100 AUD over retail and I don’t know about you but I’m not one to crumble and pay resale on a general release. So, again, time passes and this time an announcement comes down from a monthly Todd Snyder catalogue that the 992’s — as quick as they came — were going right back into the archive. No more 992’s. The fire was now burning underneath me, and the hunt was on. I had to pivot to a platform that I had never used. eBay was something foreign to me but to get the M990GY3 and the 992, I had to succumb to new methods. After searching eBay every day for 3 months, I was finally able to pick up the M992GR for retail. For those who are counting, that’s 2 years it took me. It is by far the hardest pickup I have ever chased. Right… now, before I get too sidetracked, my friends’ story. It’s much shorter. He had a worn pair of grey 992’s that he wasn’t using anymore, he posted them on eBay and 8 hours later he sold them. Bing Bong. It took me 2 years to buy it, and my friend 8 hours to sell it. What the heck is going on here? How did we come to this?
M992GR: the catalyst
Where do we even begin? Well, how about with this recent boom New Balance are experiencing. From my optics, the brand has never been as big as it is right now. And a lot of that success is owing to the 992. In terms of a made in USA model, nothing has come close to touching its success. It is the catalyst that boiled over the already bubbling market that the 990v4’s success created. And with the introduction of the 2002r and the unlikely archival revival success story of the 550, New Balance has continued to dominate the industry as well as anyone not named Nike. These 3 models have changed the trajectory of the once frowned upon “dad shoe” brand and has turned it into the new trend of the day. If you traverse any corner of Instagram, whether it be influencer or collector, you will find one of these models on their feet. They have become inescapable. And it all started over the 992. The 992 forced consumers to take notice. Now, where has this success come from? I don’t really have a short answer for this. I like to think that it’s not a coincidence that the 992 was reintroduced to the world with some groundbreaking collaborations. But I argue that the frenzy began even earlier than the recent revival… It began on the feet of a man with an Apple in his hand and a vision for a new tomorrow.
Steve Jobs: wearing the 992, 2010 — Image via Getty Images
The 992 was released in 2006. This was an important year as it was the 100th anniversary for New Balance. It was designed by Jonathan Bacon and took 5 years to perfect. It was one of the brands biggest undertakings. At the time, Sam Pearce, creative director for MiUK New Balance, says it was the most expensive shoe New Balance ever produced. The brand essentially bet it all on this model. It saw a wide release in February 2006 but it was a slow start for the chunky runner. In an era of space aged runners, the 992 stepped through the metallic haze and immediately blended in with the rest of the New Balance catalogue. In other words, it was a little lukewarm at first. One of the notable pairs to come out in this time period dropped July, 2006. The aptly named “Centennial” pairs almost immediately attained mythical status among collectors. Only 1000 pairs were made. They weren’t much different from the standard grey pairs that released in February. But the minor details reveal themselves to an astute eye. The vibrant flag on the tongue, the dates on the heel, and the special packaging all stand out to those who are looking. This is an important gem that needs to be remembered when the 992 is discussed. There isn’t much rarer. Although, this pair didn’t necessarily contribute that much to the wider success… that came 6 months later. Let me say that it cannot be understated how much of an impact the brand Apple has made on the world. I mean lets face it you’re probably reading this on an iPhone. This ripple effect of Apple can be felt even throughout the sneaker world and was on January 9th, 2007. It took a while for Steve to retire his 991’s. He had been wearing them all throughout 2006. But on that day, he was wearing the 992’s. Steve Jobs was on stage at Apple’s MacWorld Keynote Presentation where he just unveiled a little thing called the iPhone for the first time. I don’t think I need to explain to you how many eyes were on that event. It was revolutionary in every sense of the word… and it happened in a fresh pair of 992’s. Now does this explain the current trend we are experiencing? Not really. But it lays the foundation and stokes the embers for the impending inferno that happened 13 years later. This simmering market intensified in 2010 when the 992 was sent to the vault and did not return until our recent 2020 revival. They say you can never have too much of a good thing, but New Balance knew then as they still do now, when to leave people wanting more.
So where does that leave us? 10 years after New Balance shuts the vault doors, we see them open again for the reintroduction of the 992. A lot has changed since Steve Jobs was on that stage. We are now in the era of creator collaborations. In the past, New Balance has produced a lot of collaborations. But these were mostly with brick and mortar stores like J.Crew, Concepts, and Sneakers N Stuff. A continental shift has occurred within New Balance and the market as a whole. It has swiftly changed into an artist driven industry with names like Travis Scott, Kanye West, and the late and great Virgil Abloh dominating the footwear industry with their designs. Sure, they have brands attached to their names like; Off-White and Yeezy, but really, they are their brand. Their brand is only an extension of themselves. This might be an abstract concept but it is all to explain the willingness of New Balance to take a chance on some creatives of their own. A creator who’s name is their brand. Joefreshgoods’ influence on the 992 and New Balance’s overall success is immense. Never has a runner, let alone a New Balance runner, dominated the NBA All-Star weekend. Why would it? It is meant to be about basketball. And yet, Joe caused the biggest stir of the weekend in 2020. He dropped the “No Emotions Are Emotions” 992. Or alternatively named; “anatomy of a human heart.” It is terrific shoe — and if you measure success by resale value than this is one of the best. The revival of the 992 was silently successful up until this point. But after that moment, the secret was out. Joe opened pandora’s box and nobody was going to close it.
I think it would be disingenuous of me not to mention the subsequent 992 collaborations from the Japanese streetwear brand WTAPS and self stylised Canadian “mood board” JJJJound. Those collaborations, especially the JJJJound, saturated Instagram in 2020 and propelled the already skyrocketing 992 out of the stratosphere and into the universe beyond. Although, not everyone was happy to see these collaborations. The popularity was bound to step on some toes. Mainly those of the established collectors who had not often encountered trouble when hunting their favourite model for market price. These collaborations and the artificial scarcity created the perfect storm in which model success met brand success. It is a contentious topic when it comes to the popularity of the brand you collect. As a New Balance fan myself, my only concern is being able to get the shoes I like for a reasonable price. A catch-22 ensues when brand popularity increases. The brand is able to produce more models but the collector is less likely to get them. So, who really wins? Countless collaborations for the 992 were spun out after these initial success stories. But accessibility still was an issue. I’m not going to argue for one side or the other here because that needs another article in itself to explain. For now, I will leave you to your own conclusions about that. But the important takeaway is that the box was open and whether you liked it or not the 992 had something to say.
Just before I wrap this up, I guess I should mention my own feelings on the 992. What do I think about it all? What’s the nb.titan’s thoughts? Well, like everything in this article — that’s a little complicated. I like the 992 enough to chase it for 2 years but if I’m honest, it’s one of my least favourite models in the 99x lineage. If I had to rank them all; the 991 and 992 are probably tied dead last. I have a nice little analogy that I’ll share with you. It involves the 991, 992, and the 993. When it comes to those three models, I am Goldilocks. The 991 is too narrow. The 992 is too chunky. The 993? Just right. So, I guess you’re asking yourself why I hunted it that long? Well, I won’t lie when I say that I was one of the people who was forced to take notice of New Balance when this 992 revolution was happening in 2020. It was one of the first New Balance models I wanted. But as time went on and my knowledge of the brand and its models increased — the 992 steadily lost its shiny coat that had once impressed me. The clunky, and brick-like construction that attracted me, the very features that made it stand out over the rest soon made it the most unattractive silhouette for me. And I have to mention how much I hate the midsole on the 992. It is an eye sore. It’s almost a platform shoe. But having said that, the hunt didn’t stop… not even once. Even as my feelings were changing on the model. I think I attribute the chase I made to the history associated with the shoe. Everything I have mentioned in this article has driven my own desire to acquire a classic grey 992. It is a modern marvel and regardless of my feelings on the design — it is a must own.
So, what is the 992 effect? It is the catalyst that set in motion the events that led us to today. It is unprecedented model success converting into overall brand success. It is the effect that every brand dreams of making with their sneakers. New Balance have always had a history of creating incredible footwear, they have since 1982 when the 990 first debuted. The brands’ ethos has always been to make high quality products and let them speak for themselves. But in the initial case of the 992, Mr. Jobs happened to do a lot of speaking for them without even saying a word. You could say that New Balance struck gold with that fateful twist of marketing fortune. But that was a total accident. The revival of the 992 fourteen years later on the other hand — was no accident. It was a careful choregraph which hit every mark it needed when it needed to. They have perfected what I would call, “the art of the vault.” Knowing when to shut the door on models in order to avoid saturation in the market. Having the ability to sense when enough is enough and letting people miss the shoe again. New Balance knows exactly when it is time to exit stage right. The 992 effect is rare. Every once and a while, you will look up to the sky and see the moon block out the sun. And in this case, the 992 eclipsed every conceivable expectation put on it as well as every other silhouette under the brand. Its really up to you to decide whether this has been good or bad — I guess it all depends on your optics. But what can’t be understated is how much impact it has made. The only question remains is whether or not this is sustainable success or just another “ultraboost” moment. For now, there is absolutely no signs of slowing down. And as we bid the 992 farewell, we look towards what could possibly be next…