Adidas made a major breakthrough for their brand. It was recently announced that the sport brand expanded their partnership as they would soon launch a new brand, Yeezy.
It was announced that Adidas and Kanye West signed a major deal which is said to be one of the biggest names in the sneaker world. The idea came after Kanye West's Yeezy's made remarkable sales a year after it was released. Kanye West designed Yeezy for Adidas Originals which then sold out within a few hours after it hit the shelves.
"With Adidas + Kanye West," Eric Liedtke, Adidas group executive board member said. "We are exploring new territories by opening up the sports world to Kanye's creativity. This is what Adidas has always been about, empowering creators to create the new."
Kanye West's New Deal With Adidas Could Potentially Make Him A Billionaire - AvidMix | New Hip Hop Music, https://t.co/7HoCEs3Rxd
— AvidMix (@avidmix) June 30, 2016
What made the deal appalling, however, is the fact that Yeezy and Adidas are not in a sports brand partnership which is unusual when it comes to product endorsements. Adidas previously made partnerships with high profiles celebrities such as Katy Perry and Pharrell Williams.
The Adidas + Kanye West footwear partnership is said to be "a Yeezy-branded entity creating footwear, apparel and accessories for all genders across street and sport," according to Footwear News.
Josh Luber, CEO of StockX, announced that Yeezy is one of the hottest shoes to ever hit the market according to Yahoo Finance. It was then mentioned that its sales skyrocketed because of its scarcity.
"The Yeezy is by far the hottest shoe and is selling for the largest premium above retail," Luber said. "Scarcity drives demand. And Kanye drives demand."
As the excitement on the upcoming Yeezy collection builds up, it is yet announced as to when the brand will launch. It was mentioned that the company will be running from Oregon with Kanye West and a different team of Adidas team.
