Adidas canceled Kanye West after toxic anti-Semitic rants. But, the controversy somehow surged the Yeezy demand.
The shoe brand is currently one of the most-sought on Impossible Kicks, a large online reseller of branded sneakers and clothing.
“Demand for Yeezys has surged 30% since last October-November,” John Mocadlo, CEO of Impossible Kicks, said to CNN.
The Yeezy sneakers’ popularity matches the other popular brands on the resell platform, such as Jordans and Nike footwear.
“We sell about 30,000 sneakers in total every month. Probably 6,000 to 7,000 of those right now are Yeezys,” he added.
“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,” said Mocadlo.
However, West cannot reap the profits of Yeezy sales upsurge as the secondary market worked with already sold items.
Moreover, the CEO added some customers scrambled to obtain the sneakers to sell them for a profit, while others coveted its style 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.
As a result, Yeezy sneakers prices are shooting up due to tighter supply, as per StockX, a leading sneaker resale platform.
“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 CNN Business.
“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.”
[via]
