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Search resuls for: "Yeezys"


17 mentions found


☆ Yeezys are still in high demand on the secondary market despite Ye's fallout with Adidas
  + stars: | 2023-02-27 | by ( Danni Santana | ) www.businessinsider.com   time to read: +2 min
Demand for Yeezy sneakers remains high on the secondary market. Impossible Kicks has seen a 30% increase in demand since October, according to CNN Business. But demand for his Yeezy sneakers remains high. Unconfirmed rumors are also swirling around social media that Adidas and Ye may again be joining forces to sell the leftover stock. An Adidas spokesperson declined to comment, adding the company's update on February 9 is the latest it has to share.
☆ Yeezy sneakers in hot demand on resale platforms even after Kanye West's anti-semitic remarks
  + stars: | 2023-02-27 | by ( Parija Kavilanz | ) edition.cnn.com   time to read: +3 min
Yeezy sneakers currently are among the top three sellers on Impossible Kicks, a large online reseller of high-end sneakers and clothing that has 17 store locations in the United States. He said Yeezy sneakers are among the top three most-popular brands on the platform after Jordans and other Nike footwear, including Dunk and Air Max shoes. Impossible Kicks, seller of high-end sneakers, said demand for Yeezy sneakers is up 30% since last fall. So now prices for Yeezy sneakers are climbing due to tighter supply, according to 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 of sneakers and collectibles at StockX, told CNNBusiness.
☆ Adidas is facing a problem even bigger than Yeezy
  + stars: | 2023-02-13 | by ( Danni Santana | Mary Hanbury | ) www.businessinsider.com   time to read: +5 min
Adidas expects sales to drop by $1.28 billion in 2023 if it doesn't sell leftover Yeezy inventory. The company's guidance began on a bleak note with revenue for the year expected to drop after ending its Yeezy partnership. Against this background, Adidas said it is forecasting a decline in the high-single digits in sales in 2023. "The sales decline is about more than just Yeezy," Bernstein analyst Aneesha Sherman wrote in a note to clients early Friday. Cowen estimates the brand earned $1.2 billion in sales last year before Adidas terminated the partnership in October.
☆ Adidas could lose over $750 million as it tries to figure out what do do with its stockpile of Yeezys
  + stars: | 2023-02-09 | by ( Danni Santana | ) www.businessinsider.com   time to read: +3 min
Adidas may lose over $700 million in operating profits in 2023 if it doesn't sell off excess Yeezys. Adidas has said it plans to sell Yeezys without Ye after the business relationship ended in October. According to a company statement Thursday, Adidas stands to lose over $750 million in operating profits in 2023 if it does not sell off excess Yeezy inventory. But fans of Adidas Yeezys are split on whether they would buy the shoes without a Ye connection. Adidas immediately brought its Yeezy business to a halt and asked wholesale partners to do the same.
☆ It's a terrible time to be a sneaker reseller
  + stars: | 2023-01-24 | by ( Lois Sakany | ) www.businessinsider.com   time to read: +8 min
Adidas' messy breakup with Ye is the latest in a series of complications for sneaker resellers. Sneaker resellers have felt the effects of the end of the stimulus check and the rise of inflation. Sneaker resellers saw a bot crackdownWhile not as lucrative as Nike in the aftermarket, it was easier to buy Yeezys in bulk on Yeezy Supply using bots. The loss of Yeezy sales then combined with Nike's crackdown on bots. I'm working to expand my team to accommodate the online customer, walk-in customer, and sneaker customer," Falcon said.
☆ The bestselling resale sneakers of 2022, including Yeezys, Jordans, and the controversial Nike Panda Dunk
  + stars: | 2023-01-16 | by ( Matthew Kish | ) www.businessinsider.com   time to read: 1 min
Adidas Yeezy Slide "Ochre"Adidas Yeezy Slide "Ochre" Courtesy AdidasThe Adidas Yeezy Slide "Ochre" released for $60 in December 2021 and it has continued to be a hit with sneaker lovers. The Yeezy slide has distinctive grooves on the outsole designed to add better traction. Numerous pairs are currently listed on eBay for more than double the original retail price as consumers stock up on Yeezys they want to add to their collections. It remains unclear how popular Yeezys will remain after Adidas' split with Ye, formerly known as Kanye West, in October.
☆ Sneakerheads are replacing Yeezys with Crocs
  + stars: | 2023-01-13 | by ( Danni Santana | ) www.businessinsider.com   time to read: +3 min
Crocs, New Balance, and Puma are some brands benefiting from Adidas Yeezys no longer being released. Crocs, New Balance, and Puma accounted for four "high-heat" sneaker drops in December, Nikic estimates. The Crocs brand has become synonymous with comfort, like Yeezy, and has previously released successful collaborations with both Bad Bunny and designer Salehe Bembury. "Smaller brands such as Puma, New Balance, and Crocs all generated some sneakerhead 'buzz,' likely aided by the lack of Yeezy, which freed up wallet share among sneakerheads," he said. Pictures of the first possible sneaker released without Ye have surfaced online.
☆ The 10 bestselling sneakers on eBay in 2022, including Yeezys, Jordans, and the controversial Nike Panda Dunk
  + stars: | 2022-12-29 | by ( Matthew Kish | ) www.businessinsider.com   time to read: 1 min
Adidas Yeezy Slide "Ochre"Adidas Yeezy Slide "Ochre" Courtesy AdidasThe Adidas Yeezy Slide "Ochre" released for $60 in December 2021 and it has continued to be a hit with sneaker lovers. The Yeezy slide has distinctive grooves on the outsole designed to add better traction. Numerous pairs are currently listed on eBay for more than double the original retail price as consumers stock up on Yeezys they want to add to their collections. It remains unclear how popular Yeezys will remain after Adidas' split with Ye, formerly known as Kanye West, in October.
☆ Adidas considered its relationship with Kanye West a risk as early as 2018, new reports show. Here's the nine-year timeline of Adidas and Yeezy's turbulent partnership.
  + stars: | 2022-11-29 | by ( Matthew Kish | Danni Santana | ) www.businessinsider.com   time to read: +5 min
Adidas announced an endorsement deal with Kanye West in November 2013. By 2019, Adidas sales of his Yeezy brand eclipsed $1 billion annually. Across the company, sales were flat. But that same month, Adidas announced a partnership with Kanye West, the polarizing musician and fashion designer, now known as Ye. Despite the turbulence, Adidas Yeezy sales continued to grow.
☆ Adidas discussed buying the Yeezy name from Kanye West in 2018 to avoid staff being exposed to the rapper, report says
  + stars: | 2022-11-28 | by ( Grace Dean | ) www.businessinsider.com   time to read: +4 min
Execs suggested spinning off the Yeezy brand or even buying the trademark outright in 2018, per the report. Staff told the WSJ that Ye made anti-Semitic comments and watched pornography at work. Under the deal, Ye licensed the trademark to Adidas for a 15% share of the sales, per The Journal. Since Adidas ended its relationship with Ye, current and former workers have spoken out about how Ye interacted with staff there. This includes a bombshell report by Rolling Stone, in which former Yeezy and Adidas staff said that the sportswear company had ignored complaints of the rapper's alleged misconduct.
☆ Here are Friday's biggest analyst calls: Apple, Amazon, Coinbase, Carvana, Intel, Imax & more
  + stars: | 2022-11-11 | by ( Michael Bloom | ) www.cnbc.com   time to read: +8 min
UBS upgrades Werner to buy from neutral UBS said it sees upside for several trucking company names. "We are upgrading three truckload names to Buy from Neutral including HTLD, WERN , and SNDR and reiterating our Buy on KNX. Bank of America reiterates Amazon as buy Bank of America said reports of a cost cutting review at Amazon are a "positive." JPMorgan reiterates Silvergate as overweight JPMorgan said the crypto company's exposure to FTX is overblown. JPMorgan reiterates Netflix as overweight JPMorgan said it has "increased conviction" in shares of the streaming giant.
☆ Yeezys vs. Kyries: How Nike and Adidas Ran Into Crisis
  + stars: | 2022-11-10 | by ( Ben Cohen | ) www.wsj.com   time to read: 1 min
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/nike-adidas-kyrie-irving-kanye-yeezy-11668033703
☆ Kanye West's worst nightmare is coming true — Adidas plans to sell Yeezys under new branding
  + stars: | 2022-11-09 | by ( Matthew Kish | ) www.businessinsider.com   time to read: +3 min
On an earnings call Wednesday, Adidas said it plans to release more Yeezys under its own branding. "I'm not standing for this blatant copying no more," he wrote on Instagram reacting to images of the Adidas Adilette slide. On a Wednesday call to discuss quarterly earnings, Adidas Chief Financial Officer Harm Ohlmeyer reiterated the company owns the designs it made in partnership with Ye. Pressed during a subsequent Q&A with reporters, Ohlmeyer declined to elaborate on Adidas' plans, beyond repeating the company owns "all the versions and new colorways. An exception could be the Yeezy Slide, for which Ye owns the patent.
☆ Kanye West's Turbulent 9-Year History With Adidas
  + stars: | 2022-11-09 | by ( Matthew Kish | Danni Santana | ) www.businessinsider.com   time to read: +4 min
Adidas announced an endorsement deal with Kanye West in November 2013. By 2019, Adidas sales of his Yeezy brand eclipsed $1 billion annually. In November 2013, Adidas sales in North America, the most critical territory for sportswear sales, were down 1% for the year. But that same month, Adidas announced a partnership with Kanye West, the polarizing musician and fashion designer, now known as Ye. Despite the turbulence, Adidas Yeezy sales continued to grow.
☆ Zadeh Kicks boss Michael Malekzadeh, who made millions taking payments for Nike Air Jordans he failed to deliver, faces multiple fraud charges
  + stars: | 2022-11-06 | by ( Ryan Hogg | ) www.businessinsider.com   time to read: +3 min
A $300 million sneaker mogul is facing extensive fraud charges over the sale of popular shoes. He pre-sold Nike Air Jordan 11 Cool Grey sneakers for $115 to $200 a pair, while they retailed at $225. Malekzadeh has been charged with wire fraud, conspiracy to commit bank fraud which carries a 30-year maximum sentence, and money laundering. Malekzadeh, 39, from Eugene, Oregon, went on to accept preorder sales for 600,000 Air Jordans from customers, helping him rake in $70 million. Malekzadeh faces another lawsuit from American Express for unpaid charges, with the group pursuing him for millions more in damages, filings show.
☆ Nike likely to see biggest boost in the aftermath of Adidas cutting ties with Kanye West, footwear analyst says
  + stars: | 2022-10-27 | by ( Sarah Belle Lin | ) www.businessinsider.com   time to read: +4 min
With the Adidas and Yeezy partnership terminated, other shoe brands could see a boost in sales, an expert says. "I think the most obvious beneficiary is Nike," Tom Nikic, senior vice president of equity research at Wedbush Securities, told Insider. Adidas became the latest company to cut ties with Kanye West following antisemitic remarks and controversial behavior. "I think the most obvious beneficiary is Nike," Nikic said. "They either had to take the hit financially or they had to take the public relations hit," Nikic said.
☆ For $15k and a signed NDA, students at Kanye West's unaccredited Donda Academy start the day with 'full school worship' before parkour enrichment classes
  + stars: | 2022-10-22 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com   time to read: +9 min
The unaccredited pre-K through 12th-grade school, Donda Academy, costs $15,000 per year to attend, Rolling Stone reported. In comparison, Donda Academy charges $15,000 per student, Rolling Stone reported, with about half of students receiving some sort of financial aid. Donda Academy, its principal, Brianne Campbell; assistant principal, Allison Tidwell; and sports director Shayla Scott did not respond to Insider's requests for comment. Tamar Andrews, an educational consultant for Donda Academy, confirmed to Rolling Stone that parents are asked to sign an "informal agreement" to enroll. "The process of Donda school is for the parishioners, for the attendees," Yusef told Rolling Stone.
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