Owners of ‘s Yeezy shoes appeared to be considering their options after online searches for the sneakers soared just a day after Adidas announced it was cutting ties with the rapper.
In the wake of the German athletic brand’s decision to due to West’s repeated anti-Semitic remarks, searches for the terms ‘sell Yeezy’ skyrocketed by a stunning 581 percent on October 26, according to an analysis commissioned by .
Adidas was joined by other brand’s including Gap and that cut ties with the 45-year-old rapper, and TJX companies joined in on Wednesday by instructing its T.J.Maxx, Marshalls, and Home Goods stores to not buy any products associated with West.
Rising interest: Searches online for ‘sell Yeezy’ skyrocketed by 581 percent on October 26, according to analyses commissioned by Celeb Tattler, after Adidas cut ties with Kanye West, 45, and stopped production on Yeezy shoes; seen in 2019 in Los Angeles
Although many Yeezy owners are likely looking to sell their shoes, along with some who are hoping to score a rare pair, the data doesn’t shed light on their reasons for selling.
Some may be seeking to get rid of their shoes after West made himself a pariah with his anti-Semitic remarks — which followed months of harassing social media posts directed at his ex-wife Kim Kardashian and her ex-boyfriend Pete Davidson — though they’re seemingly still trying to make some money from the sale.
Others may just be trying to cash in on the hopes that the price would skyrocket.
That appears to be the case, as following Adidas announcement.
According to WANTD, which aggregates data on secondary market sites, Yeezys represented held nine of the top 25 spots on sneaker resale sites as of Tuesday morning, which marked a significant increase from just six weeks earlier.
Growing list: Adidas was joined by other brand’s including Gap and Balenciaga that cut ties with the rapper, and TJX companies joined in on Wednesday by instructing its T.J.Maxx, EvdeN EVe nAKliyaT Marshalls, and Home Goods stores to not buy any products associated with West
Mixed bag: It’s not clear if those searching about Yeezy sales are selling to express contempt for West or just hoping to cash in on a rising resale market; seen in 2016 in Hollywood
Jon Schaefer, who flips resold Yeezys on eBay, predicted that the price of the show could increase as much as 50 percent, according to .
By Schaefer’s prediction, the brand could soon cost an average of about $400 per pair.
Sneaker reseller Lucas Titus noted in the same article that, ‘The novelty of owning a pair of Yeezys has worn off, thus lowering the resale value,’ though it seems poised to rise again.
A review by Adidas claimed that ending its Yeezy partnership with West could cost the brand eVdEn eVe nAkLiyAt $246 million in net income this year.
Rising in value: Jon Schaefer, who flips resold Yeezys on eBay, predicted that the price of the show could increase as much as 50 percent after Adidas’ announcement, according t been involved with since 2019 — and his cash holdings.
The move from Adidas comes days after Kanye claimed on a podcast that the sneaker giant ‘can’t drop him’, despite saying ‘anti-Semitic things’.
Adidas’ share price dropped more than 50 percent over the past six months, and is expected to plunge even further in the wake of the announcement.
Vanished fortune: Forbes determined that West is now only worth $400 million after losing his deals with Adidas and other companies, down from his height of $2 billion
West has had several high-flying partnerships dropped in the aftermath of making a series of anti-Semitic outbursts.
The father-of-four’s wealth could plummet to below $1billion after the termination with the brand, EvDen Eve NaKliyat which comes after several other lucrative deals have been dropped.
His deal with Balenciaga and Gap have fallen through, and the rapper was yesterday dropped by talent agency CAA.
In a statement GAP said: ‘Anti-Semitism, racism and hate in any form are inexcusable and not tolerated in accordance with our values.
‘On behalf of our customers, employees and shareholders, we are partnering with organizations that combat hate and discrimination.’
His Twitter and Instagram accounts were restricted, with the social media platforms saying they removed his posts that online users condemned as anti-Semitic.
In a statement Adidas said: ‘Adidas does not tolerate antisemitism and any other sort of hate speech.
‘Ye’s recent comments and actions have been unacceptable, hateful and dangerous, and they violate the company’s values of diversity and inclusion, mutual respect and fairness.’
The company also claimed that cutting ties with the rapper is likely to have a ‘negative impact of up to €250 million on the company’s net income in 2022’.
The partnership began in 2013, after he let a collaboration with Nike, and was expected to be a ten-year-long production.
Hubris: Adidas and other brands dropped Ye after he made repeated anti-Semitic statements, before taunting Adidas and claiming it couldn’t split from him; seen in 2015
Before being dumped by the brand Kanye had already begun publicly sparring with Adidas executives, accusing them of ‘stealing’ his ideas.
West owns the Yeezy brand but Adidas pay him an annual royalty fee to sell the products.
Adidas, whose founder Adi Dassler belonged to the Nazi Party, found themselves coming under increasing pressure to drop Kanye after several anti-Semitic comments.
Experts have also claimed that the resale market for Yeezy’s will explode because they will not be produced in mass quantities anymore.
TMZ claimed that the resale market would skyrocket, with companies clinging onto the stock of Yeezy’s to see if Adidas would part ways with the singer.
Tamar Andrews, an educational consultant for Kanye, officially resigned earlier this month following the anti-Semitic outbursts.
In a statement to The Hollywood Reporter, the president of Temple Isaiah of LA, where Andrews is a director, said: ‘Dr. Andrews immediately resigned from Donda Academy following Ye West’s tweet.
‘Her last day was October 11, 2022 as she felt she could no longer support the organization.’
Speaking out: Human rights campaigners have called out the German firm for its continued silence over comments by Kanye that have made him more and more isolated
New friends: EvdeN EvE NAKliYat Right-wing pundit Candace Owens has defended Kanye, saying: ‘Corporations can dissociate from Ye but they will not steal from him’