By David Ulloa Jr.
It was the subject of hype and desired by sneakerheads (sneaker enthusiasts).
And for a brief moment, it appeared that the Yeezy had cemented its place with the likes of sneaker brands such as Air Jordan.
Then Kanye West bit off more controversy than he could chew by wearing a shirt that read “White Lives Matter.”
Shortly after, the anti-semetic comments spewed from his social media.
If you seek more information on the controversy, this is not the article for you.
Although it briefly touches on the controversy, this article will focus on Yeezy on the resale market amid the controversy.
Brian Flores, the owner of Tempe Kickz (a sneaker resale business), said that shortly after West made his antisemitic comments and Adidas cut ties with West, Yeezy sneaker owners sold their Yeezys to Tempe Kickz for a variety of reasons.
Flores said some people sold their Yeezys to make a quick profit, some sold them off for moral reasons, and some were afraid that the resale value of Yeezys would fall, so they sold their Yeezys before the value fell.
According to Flores, the frantic selloffs stopped about a week after the incident. Flores thinks the selloffs stopped because West’s fallout with Adidas became old news and people forgot about it.
J Rivers, a co-owner of the Heart of the City (a vintage clothing and sneaker resale store in downtown Phoenix), said there has been a drop in demand for Yeezys, but the resale value has stayed the same.
Adidas will continue selling Yeezys in the future, but the brand plans to release renamed Yeezys in 2023.
Like the Adidas Ultraboost sneaker, Rivers predicts the renamed Yeezys will be popular for a short time, but they eventually will fall in popularity.
Flores said there will not be a demand for the sneaker if the design of the sneaker changes with the renamed Yeezy sneakers Adidas plans to release.
Before the Adidas fallout, Flores said he saw the value of Yeezy 350s fall because of the large number of colorways being released. According to Flores, when a sneaker company puts out too many sneakers too fast, it affects the resale value in a negative way.
In addition, Flores said if a reseller buys Yeezys at retail price with the intention to resell them, they will lose money.
“The more expensive a shoe is, the harder it is to resale,” Flores said.
Resellers lose money with Yeezys because the sneakers start at high retail value, which forces the reseller to mark up the price to a value that does not do well with consumers, according to Flores.
Bryan Jalil Delgado, a sneaker reseller, said, “At the end of the day, people buy Yeezys because they like them.”