Kanye West Announced Plans to Launch Physical 'Yeezy' Stores
Colin Smith — September 1, 2022 — Business
References: instagram & lifestyleasia
Kanye West, now professionally known as Ye, announced plans to open physical Yeezy stores under his first-party merchandise label. Ye stated that the Yeezy brand has plans to open physical stores "all around the world," though the company will be launching its first locations in Atlanta, as Ye has a large presence in the state.
In addition to this announcement, Ye made a post looking for retail management experts to franchise out Yeezy locations. The celebrity stated that Yeezy is looking for "Anyone who has over 10 years retail experience and is ready to change the world."
According to Ye, the move to open first-party retail stores under the Yeezy name spun out of the lack of Yeezy products at its partner stores, namely adidas and Gap. Following several Instagram posts to make these announcements, Ye deleted the posts. However, this does not mean the project is canceled, as Ye typically only leaves his Instagram posts up for a few hours.
Image Credit: Shutterstock
In addition to this announcement, Ye made a post looking for retail management experts to franchise out Yeezy locations. The celebrity stated that Yeezy is looking for "Anyone who has over 10 years retail experience and is ready to change the world."
According to Ye, the move to open first-party retail stores under the Yeezy name spun out of the lack of Yeezy products at its partner stores, namely adidas and Gap. Following several Instagram posts to make these announcements, Ye deleted the posts. However, this does not mean the project is canceled, as Ye typically only leaves his Instagram posts up for a few hours.
Image Credit: Shutterstock
Trend Themes
1. Celebrity-owned Stores - The trend for high-profile celebrities to open their own dedicated physical storefronts to sell their own merchandise brands
2. Direct-to-consumer (DTC) Retail - The trend for fashion brands to skip intermediaries and sell directly to consumers, resulting in higher margins and greater control over product positioning and marketing
3. Franchising - The trend for growth-minded brands to pursue expansion opportunities through franchising partnerships in order to increase their reach and scale more rapidly
Industry Implications
1. Fashion Retail - Brands in the fashion industry may find the direct-to-consumer trend an opportunity to increase sales while bypassing intermediaries such as retailers and marketplaces.
2. Celebrity Merchandise - The trend for celebrities to open their own stores to sell their own merchandise may disrupt the traditional retail landscape and promote a new era of franchising.
3. Retail Management - The franchising trend may create opportunities for retail management experts who are able to adapt to changing business conditions and help scale growing brands such as Yeezy.
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