Kanye West created one of the most exciting sneakers of all time, and we’ll talk about the problems he’s facing trying to build the company into a household brand. Over five years west and Nike released the Air Yeezy, the Air Yeezy 2, and the two red October’s retailing at over $200. The shoes were released in minimal quantities and sold out instantaneously. They now resell at thousands of dollars. The success of the shoes finally puts Kanye West on the map in the fashion industry. For many years his design ideas were met with criticism. People in the fashion industry tried to hold him back, saying he wasn’t a real designer.
In 2009, West interned at Fendi and was paid $500 a month. In 2015 west even said he went 60 million in debt trying to get one of his clothing lines off the ground, but no matter what he did, he still couldn’t entirely knock down those stores, and so he took an alternative route through this sneaker world. West got his start in the music industry as a hip hop producer, and Jay-z’s 2001 album “the blueprint” Kanye hit it big as a hip hop artist after releasing his album the college dropout in 2004, then west said his sights on another passion of his fashion.
While West was having a difficult time getting people to buy into his clothing designs, his shoes instantly clicked with fans. He started as a partnership with Nike in 2009 before the west switch to working with Adidas in 2013 during the 19 years. In the first few years of his collaboration with Adidas, customers wanted to get their hands on a pair of Yeezy. Adidas is still betting on West and is doubling down on Yeezys. The goal is to scale the company into a multi-billion dollar brand. He sold last year 1 million pairs of sneakers in the United States and throughout the world, but the previous year Adidas made 400 million pairs, so 1 million pairs is a drop in the ocean. It tells you that the product can be a more substantial story. It has to be limited in what it brings; if its too easy to buy, then it isn’t strong enough to manufacture the shoes in much larger quantities.
Powell says secure staying power will be determined by how carefully Adidas manages it’s easy’s inventory. Its critical brands don’t try to grow too fast, It takes a tremendous amount of strategic thinking and disciplines to build a brand around celebrities. Yeezy could look to Jordans as an example of how to grow Brand well and maintaining its cool factor. It took 30 years to build the Jordan brand. A collaboration between Nike and NBA player Michael Jordan into a large business for many years. The Jordan brand grew about 10 percent a year because that’s all Nike allowed to go into the market. Powell said Nike made a huge mistake when it flooded the market with too many Jordans in 2017 and 2018 because the Brand has lost its demand. But they build it back, but it will take years.
In 2019 Adidas fell back, the CEO told investors in may there won’t be any significant growth in the accessible business in the fiscal year 2019. adidas won’t be repeating another massive easy’s drop in 2019; instead, the shoes are being released in limited quantities through the year. The goal of Adidas is to rebuild hype around the Brand. It will be a long time before the West can achieve his vision.