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    Adidas’ split with Kanye West sends searches for ‘sell Yeezy’ shooting up more than 500 PERCENT | Daily Mail Online

    Owners of Kanye West‘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 immediately stop producing Yeezy shoes 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 Celeb Tattler.

    Adidas was joined by other brand’s including Gap and Balenciaga 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 Yeezy prices soared on resale markets 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, 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 Forbes.

    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 $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 to Forbes 

    Following the dissolution, Forbes — which had labeled West a billionaire — retracted the designation, as a significant chunk of Ye’s wealth was tied up in his business deals, many of which had been dissolved in a matter of days.

    Forbes now estimates that the producer and designer is worth around $400 million — still a sizable sum, but far less than his height of $2 billion.

    According to the publication, his remaining wealth comes from his attractive real estate acquisitions, his popular music catalogue, a 5 percent stake in his ex Kim Kardashian’s Skims company — which he reportedly hasn’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, 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: Right-wing pundit Candace Owens has defended Kanye, saying: ‘Corporations can dissociate from Ye but they will not steal from him’

    Full Adidas statement on split with Kanye West

    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.

    After a thorough review, the company has taken the decision to terminate the partnership with him immediately, end production of Yeezy branded products and stop all payments to Kanye and his companies. adidas will stop the adidas Yeezy business with immediate effect.

    This is expected to have a short-term negative impact of up to €250 million on the company’s net income in 2022 given the high seasonality of the fourth quarter.

    Adidas is the sole owner of all design rights to existing products as well as previous and new colorways under the partnership. More information will be given as part of the company’s upcoming Q3 earnings announcement on November 9, 2022.

    West has faced criticism in recent weeks for his bizarre behavior, including introducing a series of shirts branded with ‘White Lives Matter’ at Paris Fashion week.

    During an episode of Drink Champs podcast with N.O.R.E, West claimed that George Floyd died from taking fentanyl and that Derek Chauvin’s knee ‘wasn’t even on his neck like that.’

    Floyd’s family have since lodged a $250million lawsuit against the star over the comments, calling them ‘repugnant’ and saying he used ‘false statements’ to ‘promote his brands’.

    Kanye also made the incorrect claim that he is the ‘richest black man in American history’ – a title that belongs to Vista Equity’s Robert F. Smith.

    He said: ‘A lot of this stuff for me as the richest black man in American history, that put $140million in JP Morgan, and never even had a chance to… not even get to deal with them. We’ll speak at a different time.’

    In 2021, West was inaccurately described as the richest man in America after Bloomberg reported the valuations of his companies at $6.6billion.

    Much of that figure came from sales that hadn’t yet been realized and were never an indication of his personal wealth – with Forbes estimating his net worth at around $1.8billion.

    JP Morgan Chase has declined to comment on why it cut ties with the rapper.

    Candace Owens has defended Kanye, saying: ‘Corporations can dissociate from Ye but they will not steal from him.’

    The decision from Adidas to terminate its partnership with Kanye represents the latest blow to the rapper who has seen numerous working relationships tarnished in light of recent controversies.

    Locked out: Kanye West’s Twitter and Instagram accounts were restricted, with the social media platforms saying they removed his posts that online users condemned as anti-Semitic; seen in 2020

    Shocking: Kanye promised to ‘go death con 3 on JEWISH PEOPLE’ in a shocking tweet earlier this month

    That was fast: Kanye West has been dropped attorney Camille Vasquez, who famously defended Johnny Depp in his defamation trial; pictured on June 1, 2022

    Adidas’ ties with Hitler and Nazi Germany  

    The Dassler brothers, who took the trade names of Adidas and Puma, began shoe production in the 1920s in their hometown of Herzogenaurach, Germany, a hot spot for shoe making in Bavaria with more than 100 individual shoemakers.

    What distinguished Rudolf and Adolf ‘Adi’ Dassler was not just their willingness to become members of the Nazi party, ensuring their business success under Aryan domination, but their ambitions.

    With the expansion of the war in December 1943, Hitler converted civilian business operations to military manufacturing.

    Now instead of making sports shoes, the Dasslers produced boots for Nazi soldiers as well as the Panzerschreck bazookas in their factory.

    Both brothers were called to duty with Rudolf joining the Gestapo.

    Adi served only one year while his brother stayed in until the end of the war.

    When Rudolf found himself in an American internment camp, he suspected he had been denounced by his brother who was now busy making baseball and basketball boots for Americans.

    A lifelong grudge separated the brothers. The one company was split — Adi started ‘Adidas’ and Rudolf launched ‘Puma’.

    It emerged yesterday that West was dropped by Camille Vasquez, the lawyer who defended Johnny Depp, as well as top talent agency CAA for recent remarks in which he tweeted he was planning to go to war with Jewish people.

    A source for The New York Post claimed: ‘After Ye doubled down [on anti-Semitic comments] this weekend, Camille dropped him. The firm still wanted to make it work but on the condition he retract, he wouldn’t – so he fired them.’

    The law firm has previously declined to confirm to DailyMail.com whether or not it had secured West as a client.

    It was also revealed on Monday that top talent agency CAA had cut ties with Kanye, according to the LA Times.

    The company announced it had stopped representing him at some point over the last month, after he made the anti-Semitic remarks.

    West has been represented by the company since 2016 after he left for one year for the agency UTA.

    Meanwhile, production studio MRC announced on Monday they are shelving a documentary they made about the 45-year-old rapper.

    MRC studio executives Modi Wiczyk, Asif Satchu and Scott Tenley announced in a memo Monday: ‘We cannot support any content that amplifies his platform.’

    Wiczyk and Satchu are co-founders and co-CEOs of MRC Entertainment. Tenley is the chief business officer. Shelving the documentary comes just days after the French fashion house Balenciaga cut ties with Ye, according to Women’s Wear Daily.

    A number of Jewish executives have also called Kanye out for his hateful remarks, with DailyMail.com reporting that Hollywood super agent Ari Emanuel penned an op-ed calling for all major brands to drop the rapper.

    Emanuel wrote: ‘Those who continue to do business with West are giving his misguided hate an audience.’

    Ye’s ex-wife Kim Kardashian also broke her silence, claiming she ‘stands together with the Jewish community’ in a public declaration of support in opposition to her former husband’s social media posts.

    Downhill: He also stirred controversy by wearing a ‘White Lives Matter’ shirt at his Paris Fashion Week show, while Owens joined him in the same shirt 

    On the move: Gap and Kanye ended their partnership in September. European fashion house Balenciaga has also cut ties with him

    Kanye earlier this year hit out at several brands with which he is affiliated, accusing them of not fulfilling certain contractual arrangements.

    In now-deleted Instagram posts, the multiple Grammy award winning artist accused Adidas and U.S. apparel retailer Gap Inc of failing to build contractually promised permanent stores for products from his Yeezy fashion line.

    He also accused Adidas of stealing his designs for its own products.

    Gap and Kanye ended their partnership in September. European fashion house Balenciaga has also cut ties with Ye.

    Adidas poached Kanye from rival Nike Inc in 2013 and agreed to a new long-term partnership in 2016 in what the company then called ‘the most significant partnership created between a non-athlete and a sports brand.’

    The tie-up has produced several hot-selling ‘Yeezy’ branded Adidas sneakers that could cost anywhere between $200 and $700. The partnership also helped the German brand close the gap with Nike in the U.S. market.

    Yeezy generates about 1.5 billion euros ($1.47 billion) in annual sales for Adidas, making up a little over 7 per cent of the company’s total revenue, according to estimates from Telsey Advisory Group.

    Shares of the company, which cut its full-year forecast last week, were down about 3 per cent on the report amid the controversy over Ye.

    This content was originally published here.

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