Adidas Yeezy Quotes
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Let’s discuss our Swoosh-less Nike sneaker for a moment. My guess is that if you removed the branding from a pair of Nike Dunk sneakers, they would be worth no more than twenty-five percent of their retail price. That means that at least seventy-five percent of the value of a Nike sneaker is tied up in the emotional elements you can’t see or touch, the intangibles. But just because you can’t see them or touch them doesn’t mean they aren’t real.
For a parallel example, let’s look at Kanye West’s relationship with Adidas. Kanye has little or no athletic prowess—he’s a musi- cian, a tastemaker, a hype man. Whatever you may think of Kanye, he gets people talking and has been able to use his brand to create value for his partners. And that’s exactly what he did when he designed a line of sneakers for Adidas, the Yeezy Boost.
In February 2015, a limited run of his shoes sold out within ten minutes at a retail price of two hundred dollars. The shoes were then released to a wider audience a month later and once again sold out in record time. This is where things start to get interesting. According to Complex magazine, in the following quarter the Yeezy Boost accounted for $2.3 million in sales on eBay, three times the gross sales of its closest competitor, for an average price of $751 per pair. Let’s generously assume it cost Adidas fifty dollars per pair to produce and market a pair of Yeezy Boost. If that’s the case, Kanye West’s creativity is worth $701 per pair, and that doesn’t include the halo value to the overall Adidas brand.
Alan Philips (The Age of Ideas: Unlock Your Creative Potential)