A massive target for shoes collectors, Adidas yeezy shoes have been dubbed one of the
trendiest and most exclusive sneaker series. Kanye West and Adidas collaborated to
develop Adidas Yeezy sneakers. They are known for their unique style and high price tag.
Public concern has been raised over these sneakers, as large crowds were seen
gathering outside the outlet for the Adidas Yeezy shoes 350 V2 sneakers,
which sell for $349 at official retailers despite safe distances and crowd control
Fine of up to $10,000 and/or imprisonment of up to six months can be imposed on
anyone found flouting the COVID-19 regulations. Why are people willing to break the law
and take the risk to get these trendy sneakers, even with these potential penalties?
yeazy shoes Status Symbol For The Younger Generation
Gen Z and Millennials prefer sneakers over luxury timepieces and designer handbags
due to changing fashion norms and sneaker culture. Gen Z and Millennials are commonly characterized by casual and relaxed dress codes.
According to a Business Insider article, sneakers are more “prestigious” partially because
people want to be more comfortable, which explains the high adoption of sneakers that
promise better comfort and now, better style. Changing attention from athletes (such as
Michael Jordan) to celebrities (such as Kanye West) has also contributed to the increase
in sneakers’ popularity. Sneakers are not just about athleticism, but also a fashion
statement, which broadens their market.
As a result of this change in customer demand and sense of scarcity, branded sneakers
such as the Adidas Yeezy have reached new heights. Adidas’ Yeezy Boost 350 V2 (the
most popular sneaker) retails for $349 officially. Depending on your design and colour
scheme, the price can easily reach S$2,000 on the resale market.
Collection and Resale Value yeezy shoes
In 2019, the global sneaker resale market was worth US$2 billion (S$2.7 billion),
according to investment bank Cowen & Co. By 2025, it is expected to triple to US$6
billion. With the potential to yield profits from twice the retail price to a jaw-dropping six
times the original retail price, flipping these shoes can result in even the average Joe
queuing up for sneakers despite not being a sneaker enthusiast at all.
To give an example, each pair of the yeezy boost 350 in Turtle Dove retails for $349
when released. Sneaker reselling is booming in Singapore, where sneakers cost
between S$1,700 and S$2,000 on Carousell, a local hotspot for sneaker reselling. The
shoes are also frequently resold on platforms like as eBay to overseas markets.
According to the platform, the lowest asking price starts at $2400 (converted from
US$), which is higher than the local asking price.
In a recent article, CNA Insider featured 16-year-old Remus Lim, who resells branded
shoes to local and overseas markets. A pair of Air Dior sneakers he resold for S$8,000,
originally purchased for S$3,300, was the most expensive shoe he resold. Even though
it’s not an Adidas YEEZY shoes, it’s an indication of the high resale value and potential
profits that collectible sneakers can bring.
It is known that Adidas makes a limited number of yeezy shoes for each new release. The
yeezy Boost 350 V2 was launched in the “Clay” colour scheme with a total of 35,605
yeezys sold on the official site worldwide.
The Adidas yeezy shoes are not only limited in production,but also in distribution. If you
wish to purchase the shoes directly from Adidas, you will need to participate in a ballot
system via the Adidas website. You need to be very fortunate to successfully ballot for
one of the highly sought-after models at official retail prices, with many small-medium
third-party resellers and individuals using shopping bots and/or multiple accounts.