Kanye West’s Yeezy shoes have skyrocketed in resale value after Adidas cut ties with the rapper following his anti-Semitic rants.
Prices for the embattled 45-year-old musician’s high-end footwear line have soared as customers scramble to resell the now rare items – after the sportswear brand terminated their $1.5billion partnership with the star, with Gap and Balenciaga following suit.
Resale sites have, thus far, not dropped the star, with sites such as luxury retail marketplace, The RealReal selling a selection of Yeezy x Adidas sneakers – at already escalated prices.
A spokesman for The RealReal confirmed to DailyMail.com they will ‘no longer be accepting consignments of Yeezy or Adidas x Yeezy.’
Products on sale include a pair of Yeezy x Adidas Boost Wave Runner sneakers for $395, a near $240 mark-up on the original retail price of $159.75.
The resale site is also selling Yeezy x Adidas Boost 350 Moonrock sneakers for $325, when they can be bought for a mere $140 on a supplier’s site.
Yeezy x Adidas Boost 350 V2 Zebra sneakers are on sale for $275, a $45 mark-up on the original price.
A RealReal spokesman said: ‘Over the past eleven years, The RealReal has celebrated the diverse community that we have built, and we are wholeheartedly proud to be a part of.
‘Since our founding, we’ve been committed to creating a safe space for every employee, consignor and customer – regardless of age, gender, religion, sexual orientation, and race – and we will not tolerate any disparaging remarks that demonstrate discrimination or calls for violence.
‘Kanye West’s recent behavior at Paris Fashion week and the comments he made regarding the Jewish community are not only offensive, but are harmful and go against everything we believe in.
‘For this reason, we are no longer accepting items associated with Kanye or his brand, including Yeezy and Yeezy x Adidas.
‘We represent consignors not brands, and since we have already accepted and listed these items, we will not accept any future items.
‘We stand with equality and acceptance of everyone, and will continue to promote a safe and supportive marketplace for our members.
Sites like Ebay are also seeing a surge in Yeezy products go on sale – as sellers take advantage of the impending Yeezy deficit.
A pair of Yeezy x Adidas Boost 700 Mauve trainers are selling on the site for between $350-$450 – when they retail at a mere $150.
Yeezy shoes range in price from $200 for the 500, 700 v3) to $585 for the 950 boot, a celebrity favorite.
West’s empire has continued to crumble around his anti-semitic behavior, which has included repeated claims of ‘Jewish people’ in the media conspiring against him, and planned parenthood controlling black populations through genocidal abortions.
This week Adidas dropped his Yeezy shoe line – a deal which was worth $1.5billion – with Gap, Footlocker, TJ Maxx, and Balenciaga all following suit and cutting ties with the rapper.
The rapper was embarrassingly escorted out of Skechers headquarters on Wednesday after showing up unannounced to pitch his Yeezy brand a day after being dropped by Adidas and having his songs banned by Peloton.
Skechers representatives said in a statement: ‘Considering Ye was engaged in unauthorized filming, two Skechers executives escorted him and his party from the building after a brief conversation. Skechers is not considering and has no intention of working with West.
‘We condemn his recent divisive remarks and do not tolerate anti-Semitism or any other form of hate speech. The Company would like to again stress that West showed up unannounced and uninvited to Skechers corporate offices.’
West may have faced additional opposition if he had gotten a preapproved sit-down meeting with Skechers executives as the CEO Robert Greenberg and current President Michael Greenberg are both Jewish.
The rapper’s removal from the shoe brand’s office comes mere hours after Adidas announced that it will continue to sell Yeezy products while removing the rapper’s moniker.
Management said that they will sell the items under their own brand at the beginning of 2023, according to analysts.
Adidas broke off their deal with Ye on Tuesday after pressure from fans over the rapper and designer’s recent anti-Semitic comments.
It ended the lucrative partnership, which included royalty payments and other fees.
‘I can say anti-Semitic things and Adidas can’t drop me,’ Ye had previously stated.
Since other similar remarks across social media, including a tweet declaring he would go ‘death con 3 On JEWISH PEOPLE,’ Ye has lost a string of high profile partnerships.
Footwear retailer Foot Locker said they would ‘not be supporting any future Yeezy product drops, and we have instructed our retail operators to pull any existing product from our shelves and digital sites.’
Even auction house Christie’s which was handling the private sale of a rare Nike Air Yeezy 1 prototype worn by West to the 2008 Grammy’s is no longer proceeding with the sale.
The termination of the Adidas deal has knocked Ye out of the billionaire ranks, according to wealth tracker Forbes.
Ye is now worth a comparatively paltry sum of $400 million, which Forbes estimates comes from real estate, cash, his music catalog, and a five percent stake in ex-wife Kim Kardashian’s shapewear firm, Skims.
This comes after Kanye claimed he lost $2 billion in a single day as companies have continued to sever ties with the rapper following his anti-Semitic remarks.
The rapper returned to Instagram on Thursday after his account was restricted earlier this month following his series of shocking posts.
Discussing the backlash, West – known legally as Ye – insisted that ‘money is not who I am’ as he penned a ‘love letter’ to Hollywood super agent Ari Emanuel, who had called for West to be dropped by all major brands.
In a post captioned ‘LOVE SPEECH’, he penned: ‘Ari Emanuel, I lost 2 billion dollars in one day and I’m still alive. This is love speech. I still love you. God still loves you. The money is not who I am. The people is who I am.’
In an op-ed for the Financial Times, Endeavor co-CEO Emanuel wrote that there should be ‘no tolerance anywhere for West’s anti-Semitism’ and encouraged brands to full-stop cease partnering and working with the designer.
‘Apple and Spotify, which host West’s music, whoever organizes West’s tours, and Adidas, which collaborates with West on his fashion line, should all stop working with him,’ wrote Emanuel – essentially calling for a blacklisting
‘Silence is dangerous,’ continued Emanuel. ‘It allows forms of hatred and racism, including anti-Semitism, to spread and become normalized. It coarsens and degrades our society and country.’
Emanuel, himself Jewish, is widely considered to be one of the most powerful men in the entertainment industry. West has repeatedly blamed the ‘Jewish media’ and ‘Jewish community’ in the music industry for toying with him.
West poked fun at the backlash on Thursday as he posted a fake news headline that read: ‘Ye Has Reportedly Cut Ties With Kanye West,’ adding in the caption: ‘Had to cut ties bro.’
Rapper 50 Cent – real name Curtis Jackson – then posted his own version of the joke, informing the world that ‘Curtis Jackson has reportedly cut ties with 50 Cent.’
He captioned the post: ‘I’m getting rid of anybody who can get me fvcked up like kanye right now ! LOL.’
West then deleted his original post and shared 50 Cent’s meme while requesting they join forces to bring his Donda Academy to Houston, Texas, where 50 Cent resides.
‘We got Donda school designs we need to build with 50 in Houston,’ he penned.
According to Newsweek, 50 Cent responded in a now-deleted comment, which reportedly read: ‘OK YE let’s build a school in Houston but go cool off,’ and is said to have added that Kenye is ‘hot right now’ with ‘the Feds all on him.’
50 Cent’s posts shifted from jokey to serious when he became aware of a CNN report alleging that Kanye ‘has a disturbing history of admiring’ Nazi dictator Adolf Hitler.
Former TMZ reported Van Lathan Jr. alleged earlier this month that the Heartless musician had professed his ‘love’ for Hitler during a 2018 interview with the outlet.