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Kanye West Reportedly Is Losing This Much Money By Selling Yeezys For $20

February 23, 2024 by newhiphopnews

Kanye West is easily one of the biggest names when it comes to the sneaker world. Overall, he built his empire with Adidas, at least for the most part. Although he started off with Nike, it was Adidas that led to his largest run of prosperity. Now, however, he is on his own again and it has taken him a while to get the Yeezy brand back on its feet. With his Vultures rollout still ongoing, Ye has gotten back into the sneaker world. The Yeezy Pod is his new creation, and it resembles a sock more than anything else.

After selling the shoe for a staggering $200 USD, Ye decided to change course and sell the shoe for $20. That is a 90 percent reduction from the original price. Furthermore, this is a new strategy for Ye as it pertains to his entire streetwear empire. He has been selling all of his items for the low price of $20. However, as you can imagine, this has affected his margins quite substantially. According to the Twitter aggregator Kurrco, Ye is currently taking a $17 loss on every Yeezy Pod sale.

Kanye West Is Doing It For The People

The cost to make these, as well as the shipping and handling, comes to about $37. When you do some simple math, it becomes clear as to what the math is. For now, this seems like the cost of doing business from a marketing perspective. With all of his shoes going for $20, he is getting an increase in sales. People are now curious about his Yeezy brand again, and once he starts selling things at a normal price, he will have a consumer base. Only time will tell whether or not he changes his prices anytime soon. Once he bleeds enough money, he will likely have no choice.

Let us know what you think of the Yeezy Pods, in the comments section down below. Additionally, stay tuned to HNHH for all of the latest news and updates from around the music world. We will continue to keep you informed on all of your favorite artists and their upcoming projects.

The post Kanye West Reportedly Is Losing This Much Money By Selling Yeezys For $20 appeared first on HotNewHipHop.

Kanye West Reveals Yeezy Earnings Following DIY Super Bowl Ad

February 12, 2024 by newhiphopnews

Kanye West is having a huge weekend for many reasons. Firstly, he just dropped off his new album Vultures. Overall, this is a project that fans have been waiting on for a long time. However, he finally delivered 16 tracks alongside Ty Dolla $ign. Now, fans are digesting the music and giving it some love. There are also those out there who dislike the project and think it is entirely too dull to care about. That said, Ye seems to be streaming well right now, and in his mind, that is all that matters.

Secondly, he dropped a Yeezy ad during the Super Bowl. As we reported, it was a pretty basic ad as far as the Super Bowl is concerned. It last all of 30 seconds and it consisted of Ye speaking into his phone in the back of a car. However, it seems like the commercial had its intended effect. In the Instagram post below, Ye posted about his end-of-day sales on the Yeezy.com website. He had just under 295K orders and made a whopping $19 million. Moreover, Vultures found itself as the number one streamed album in 100 countries.

Kanye West Is Winning

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A post shared by Ye (@kanyewest)

These are all huge numbers for Ye, who has certainly polarized everyone over the past couple of years or so. Overall, his controversies have been extremely difficult to watch. He has said hurtful things and has undone a lot of good faith. It’s hard to believe he has earned any of that good faith back. That said, he has a cult-like fanbase who will do anything he says, buy anything he promotes, and listen to anything he creates. These fans don’t really believe in anything, except for Kanye himself.

Let us know what you think of Vultures, in the comments section below. Additionally, tell us your thoughts on his shoes. Stay tuned to HNHH for the latest news and updates from around the music world. We will continue to keep you informed on all of your favorite artists and their upcoming projects.

The post Kanye West Reveals Yeezy Earnings Following DIY Super Bowl Ad appeared first on HotNewHipHop.

Kanye West Yeezy: Adidas Might Write Off Over $300 Million Worth Of Shoes

November 9, 2023 by newhiphopnews

Kanye West and Adidas had to break up last year due to Ye’s persistent antics. Overall, it was pretty hard for a lot of people to watch. Kanye was saying a whole bunch of anti-semitic things while also going full-on alt-right. Although Adidas knew a lot of money was at stake, they decided to do the morally correct thing and sever all ties. However, this left a lot of money on the table as the brand had about $1 billion in Yeezy merchandise sitting in a warehouse somewhere.

Over the past year or so, Adidas has been releasing some of this stuff back on the market. This has helped them recoup hundreds of millions of dollars. That said, according to the Associated Press, the brand still has about $320 Million in stock leftover. CEO Bjorn Gulden is now claiming that all of this merchandise may have to be written off. Logistically, they don’t even know if they will ever be able to sell it.

Kanye West Has Adidas In A Pickle

BEVERLY HILLS, CALIFORNIA – FEBRUARY 09: Kanye West attends the 2020 Vanity Fair Oscar Party hosted by Radhika Jones at Wallis Annenberg Center for the Performing Arts on February 09, 2020 in Beverly Hills, California. (Photo by Rich Fury/VF20/Getty Images for Vanity Fair)

“Right now, that is financially the worst case and it is a possibility,” Gulden said. “Currently, there is no decision.” Gulden went on to say that realistically, they would love to get rid of the inventory and continue their charitable efforts. “We of course hope we can do more drops next year and we can get more value out of it and donate the proceeds,” the CEO said. “But right now, financially, we haven’t made a decision and that’s why the outlook is the way it is.”

Let us know what you think Adidas should do here, in the comments section below. Are you still interested in copping Yeezys? Additionally, stay tuned to HNHH for the latest news and updates from around the music world. We will always be sure to keep you informed.

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