Adidas said it might have to write off the remaining 300 million euros ($320 million) worth of Yeezy shoes left unsold after it cut ties with rapper Ye, formerly known as Kanye West. The company will decide in the coming weeks whether or not to do a third release of the shoes next year to generate more donations to groups fighting antisemitism.
The shoe and sports clothing company, which cut ties with Ye in October 2022 after he made antisemitic remarks online, has sold 750 million euros worth of the shoes in two stages earlier this year through Adidas smartphone apps and its website. Part of the profits went to groups like the Anti-Defamation League and the Philonise & Keeta Floyd Institute for Social Change, run by social justice advocate Philonise Floyd, the brother of George Floyd.
I only found out about shoe hypebeast people recently from my brother and that market is insane I can’t believe people scalp SHOES
People will throw insane amounts of money at stuff if you can convince them it’s valuable.
Even more so in these times of economic uncertainty, people are more willing to buy stuff as an investment.
Yeah, imagine if it was something even stupider like tiny little stuffed animals…
Any mass-produced luxury good has scalpers.