People are willing to go to extraordinary lengths to afford a pair of Yeezys.
Portland police have arrested a man they believe stole a U-Haul found in the northern part of the city on Sunday, reports The Oregonian. But the truck wasn’t the only thing the man allegedly tried to get away with – the vehicle was also stuffed with more than 1,000 pairs of Kanye West’s coveted sneakers in the back.
The truck containing the shoes was stolen on Saturday evening, but was discovered by officers in the department’s northern compound the following day, according to a tweet from officials. After locating the vehicle, authorities arrested Rupert Crosse, 26, and charged him with theft and possession of a stolen vehicle. Interestingly, the charges were dropped on Monday following a “no-complaint motion” by the Multnomah County District Attorney’s Office, according to Portland TV station KOIN. Crosse, who would be known as “Cabby”, could be charged again in the future after further investigation.
Last night a Uhaul containing 1100 pairs of new Adidas “Yeezy” shoes was stolen. Daytime officers located the uhaul, arrested Rupert Crosse, 26, and recovered the shoes estimated to be worth more than $250,000. Great job North Dayshift! Case 22-74652. pic.twitter.com/zjXWb5Vs9n
— PPB North Precinct (@ppbnorth) March 21, 2022
In the back of the U-Haul, the agent found 1,100 boxes of Yeezy-branded sneakers that they say are worth a total of $250,000. This would put the average value of each pair at around $227. Yeezy, an Adidas sub-brand that produces West-designed shoes, apparel and accessories, regularly sells shoes between $200 and $500. Sneaker sales hit $1.7 billion in 2020, earning West around $190 million in royalties, according to Bloomberg Businessweek. The brand is a big part of why he’s a billionaire.
The $250,000 estimate may be accurate, but it’s also low considering the dynamic second-hand market for Yeezys. The brand’s sneakers garner so much interest in part because they’re produced in such limited quantities. Some of the most coveted models, like the Boost 350 Pirate Black or the Combat Boot Season 4 Sand, regularly sell for four to five times their manufacturer’s suggested retail price on online streetwear marketplaces like StockX or Grailed. Even the cheapest items, like his slippers and slides, can sell for a lot more than retail. Which makes it hard to put any real value on the loot Crosse had in the back of that truck.