This could mark the end for the once-lauded brand of controversial rapper Kanye West. Kanye West had hoped that one day everyone would be able to buy Yeezy sneakers. That day has come, as many products from this brand are now being offered at 50% off, a phenomenon never before seen with Yeezy.
Currently, sneaker enthusiasts can find previously popular models like the Yeezy 500, Yeezy Boost 700, and Yeezy 450 being sold for half their original price. To own one of these products, buyers need to spend starting from approximately $110. Meanwhile, models like the YZY Foam RNR (priced at around $100), Yeezy Boost 350 V2 (approximately $240), and Yeezy Slide (about $80) have not seen any price cuts.
Some fans of Yeezy were not surprised by this news, but they did not expect the day to come when the once best-selling shoes would be available at such low prices.
In the past, many sneakerheads were willing to sleep overnight outside stores, waiting in long lines for the chance to buy Yeezy shoes and resell them for thousands more than the original price. However, that was a story from five years ago, during the golden era of Yeezy.
The current fate of this brand’s products is similar to that of many other designer shoes, facing an oversupply of inventory. Less popular colorways are being liquidated at half their original prices.
In early June, a man named Steven Smith spotted Yeezy shoes being sold at an Adidas outlet store in Dubai at half price. Smith—who became known for wearing Yeezy despite being older—stated: “I am a fan of Yeezy. I’m thrilled that Adidas is bringing them to market at a 50% discount or even more so that more people can experience the product.”
Previously, Smith had posted images of some discounted products on his social media, which garnered a lot of responses, mostly inquiries about where to buy them. This shows that the demand for Yeezy still exists. Additionally, one user expressed hope that those who are less knowledgeable about shoes would not take advantage of the opportunity to buy out all the models.
Recently, Adidas announced its preliminary results for the second quarter. In euro terms, the company’s revenue increased by 9% to 5.822 billion euros, compared to 5.343 billion euros from the previous year. The operating profit during this period reached 346 million euros, including a 50 million euro contribution from selling a portion of Yeezy inventory.
The company also plans to sell out its remaining stock at original prices this year. “This will lead to increased sales of 150 million euros, without any additional profit for the remainder of the year,” the company stated.
First launched in 2009, Yeezy—the brainchild of rapper Kanye West—became immensely popular, leading Adidas to invite West to collaborate on a collection in 2013. This financial agreement was considered one of the largest deals the company had offered to a non-athlete.
With Kanye West’s personal charisma, unique Yeezy designs, and intricate release strategies, sneakerheads were left eagerly anticipating each new launch. However, following the rapper’s controversial statements, Adidas decided to part ways in October 2022. The brand temporarily halted all sales to assess public reaction before attempting to sell off its remaining inventory, leading to a decrease in the company’s net revenue in 2023.
