The price of Kanye West’s Yeezy shoe line products is expected to rise by as much as 50 percent.
After Adidas cut all ties and deals with the disgraced rapper over his “hateful” and “dangerous” anti-Semitic rants, the former billionaire’s net worth instantly dropped from around $1.5 billion to just $400 million.
While being dropped by Adidas and the likes of Gap and Balenciaga will surely leave a large hole in the rapper’s pockets, the prize of his Yeezy shoes is expected to rise drastically as they will no longer be easily available.
On October 26, in the wake of the canceled deal with Adidas, ‘sell Yeezy’ searches went up by 581 percent, a Celeb Tattler analysis confirms.
While many owners are looking forward to selling their pairs for a higher price and making some profit in the process, others are likely hoping to get rid of the products now stained by Ye’s anti-Semitic comments.
Meanwhile, Yeezy fans might take this as an opportunity to stock up on one or more pairs of shoes that will be harder to obtain following Adidas’ decision to cancel their deal with the rapper.
According to some reports, the prices of Yeezys have already gone up significantly on numerous resale markets after Adidas’ announcement.
As Yeezy reseller Jon Schaefer predicted according to Forbes, the price of the shoes could increase by as much as 50 percent in the days to come.
Lucas Titus, another reseller of the branded shoes, noted that “the novelty of owning a pair of Yeezys has worn off, thus lowering the resale value” while acknowledging that the prices could soar again.
This comes after Adidas announced a complete termination of their partnership with Ye over his hateful and inflammatory comments about Jews.
“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 said.
“After a thorough review, the company has taken the decision to terminate the partnership with Ye immediately, end production of Yeezy branded products and stop all payments to Ye and his companies. adidas will stop the adidas Yeezy business with immediate effect.”
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