adidas has started its latest sale of Yeezy sneakers following Ye's, formerly known as Kanye West, antisemitic remarks and controversial ending to 2022. This event marks the third sale for adidas Yeezy sneakers, and previous releases saw mostly instant sellouts. However, the first pair to release as part of the latest batch, the adidas Yeezy 350 V2 Steel Grey, is currently sitting on the adidas Confirmed App in a full-size run.
The sale began with entries for the draw on February 26 and introduced a new raffle mechanism that included a pre-authorization charge on customers' payment methods. This method, which places a $230+ hold on the participant's account, is a departure from previous raffles where charges were only applied upon winning. Despite this and the announcement of winners at 10:10 AM ET, the draw remains open for entry with all sizes available, indicating that adidas has yet to achieve a sellout for this release.
Several factors contribute to this scenario. Ye's recent denouncement of the sneaker and adidas has had a palpable impact. Following adidas' announcement of the sale, Ye took to Instagram, stating, "Anybody who loves Ye would not buy these fake Yeezy I never made these colorways I'm not getting paid off of them and adidas is suing me." He labeled the new 350 colorways as "cooorny," potentially influencing his loyal fanbase's purchasing decisions. Many of Ye's fans, who have continued to support Yeezy products under the impression that Ye receives a 15% royalty, may have chosen to side with the artist.
Furthermore, the changing tastes in footwear fashion have also played a role. The mid-2010s saw a surge in popularity for sock-like sneakers, such as the Yeezy 350, NMD, and Ultraboost from adidas, and Flyknit products from Nike. However, consumer preferences have shifted towards more traditional sneakers, "dad shoes," and utilitarian designs, leaving the once-coveted 350 silhouette less favorable.
On top of the fact that the 350s have lost their popularity amongst sneakerheads, the model has been released in an array of greyscale hues that another grey-based colorway was not likely to hit.
Economic factors must be considered, too. With the current economic climate prompting consumers to be more selective with their purchases, the willingness to spend on sneakers, particularly those associated with controversy, has diminished. This ethic contrasts sharply with the early part of the decade, characterized by rampant overspending and inflated secondary market prices, where nearly every sneaker release was seen as a profitable investment.
While the 350 may be sitting, multiple releases are planned for March, including Yeezy Slides and Foam RNNRs, which are likely to sell out. To stay updated on the upcoming adidas Yeezy releases in March, and more in the sneaker and streetwear world, download the Sole Retriever mobile app.
adidas Yeezy Boost 350 V2 Steel Grey
Image via adidas
