- The demand for Yeezys has increased.
- Adidas canceled its contract with Kanye West.
- Some customers bought the sneakers to sell them at profit.
As a result of his offensive anti-Semitic tirades, Adidas canceled Kanye West. But, the Yeezy hype somehow increased demand.
The footwear line is presently one of the most popular on Impossible Kicks, a significant online retailer of name-brand footwear and apparel.
According to John Mocadlo, CEO of Impossible Kicks, “Demand for Yeezys has surged 30% since last October-November.”
The popularity of the Yeezy sneakers is comparable to that of other well-known retailers brands like Jordan and Nike shoes.
“We sell about 30,000 sneakers in total every month. Probably 6,000 to 7,000 of those right now are Yeezys.’ he added.
According to Mocadlo, “The Yeezy 350 with black and white in the shoe’s color pattern are among the most sought-after at resale and priced 20% to 40% above the shoe’s retail value.”
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When Yeezy sales increased, West was unable to benefit from them because the secondary market only accepted products that had already been sold.
The CEO also mentioned that some consumers raced to buy the sneakers so they could resell them for a profit, while others craved them for their elegance and comfort.
But, the outlet chief admitted difficulties securing further Yeezy items after the fashion mogul boycott, “It is getting a little bit difficult to get more because the inventory is starting to dry up after the controversy,” he said.
According to StockX, a top marketplace for reselling sneakers, as a result of the limited supply, Yeezy shoe prices are rocketing upward.
“Since the start of the year, the average price of Yeezy sneakers has increased, but sales overall have decreased on StockX,” Drew Haines, director at StockX, told an international news agency.
“This is in line with the principles of supply and demand and consistent with what we’d expect to happen when no new supply is in the market.”
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