Yeezys were taken off the stores, yet demand is still high
Adidas is unsure what to do with its stock of unclaimed pairs of Yeezys, the sneakers created by Ye, the artist formerly known as Kanye West. But, the CEO of the corporation said last week that several options are on the table.
The big picture: Months after Adidas removed the shoes from the shelves after terminating its nine-year association with Ye over his antisemitic sentiments, Yeezy shoes are still in high demand and are selling considerably above retail value on the secondary market.
Bringing you the news The business has received more than 500 offers to purchase the stock of unsold shoes, according to Adidas CEO Bjrn Gulden, who also noted that selling it “would not always be the proper thing to do.”
During the company’s earnings call, Gulden stated, “I think the goal that we have is to do what affects us the least, and that we accomplish something good.”
We could sell it for a tiny profit and donate the difference to various charities, he suggested.
Sustainability issues would also arise if the shoes were destroyed or burned, he added.
Sure, but, according to CNN, Gulden said the brand’s sustained popularity and premium status may allow the shoe to “come back again”.
Never have the shoes been inexpensive. The cheapest Yeezy variants sold for around $200, while the most expensive model cost $625. Depending on the style, the Yeezy Boost 350, the most popular model of the shoe, costs around $230.
What we’re observing: The cost of several shoe types has increased on the secondary market. According to StockX and Impossible Kicks, Yeezy demand has increased on their platforms in October.
The 2015 750 OG Light Brown model, which was sold for $350, is now worth $1,796.
Retailing for $70, the 2022 Yeezy Slide Azure went for $408.
The $585 retail price of the 950 Moonrock is now more than $2,000 in several places.
The aforementioned Yeezy Boost 350 is also retailing in a variety of styles over retail.