The German shoe giant Adidas formally ended its relationship yesterday with Ye, the rapper and fashion mogul formerly known as Kanye West, after he made a series of controversial and anti-Semitic remarks. Now, resales of Yeezy shoes are booming across reseller sites, with some sellers predicting prices can soar up to 50% in the coming months.
Sports business writer Darren Rovell reported that Yeezys account for six of the top eight best selling sneakers on reselling site StockX in the past 72 hours. StockX shows 12 Yeezy sneakers in the top 20 most popular shoes on the resale site, as of publishing.
Top selling Sneakers on @stockx, last 72 hours:
1. Yeezy Slide Bone
2. Nike Dunk Retro White Black Panda (M)
3. Yeezy Slide Onyx
4. Yeezy Foam RNR Onyx
5. Yeezy Boost 350 V2 Salt
6. Nike Dunk Retro White Black Panda (W)
7. Yeezy Boost 350 V2 Slate
8. Yeezy Slide Flax
— Darren Rovell (@darrenrovell) October 26, 2022
Yeezy shoes and clothes have long been targets for sneaker heads and resellers since they entered the market under the Nike banner in 2009, with low supply and immense demand leading resellers to make big profits in the early years of the line.
Ye dropped Nike for Adidas in 2013, and in recent years resale profits have waned as Adidas has been able to keep up with the demand.
However, with the announcement from Adidas yesterday that they were ending their partnership with Ye and immediately removing Yeezys from shelves and online sales, resellers are anticipating Yeezys — which are all of a sudden in limited supply — to jump in price.
In an interview with Forbes, eBay sneaker reseller Jon Schaefer predicts prices on some classic Yeezy styles will soon jump as much as 50%.
It remains to be seen if these predictions hold, or if the backlash against Ye will lead to a reduction in the popularity of his clothes and shoes.
Bloomberg reports, in the past day resales of Yeezy shoes have doubled in volume and prices are up 10%, according to industry data aggregator WANTD.
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