Nike likely to see biggest boost in the aftermath of Adidas cutting ties with Kanye West, footwear analyst says

Nike likely to see biggest boost in the aftermath of Adidas cutting ties with Kanye West, footwear analyst says

In the wake of , an expert says competitors stand to gain an influx of business from sneakerheads looking to spend their disposable income elsewhere. Tom Nikic, senior vice president of equity research at Wedbush Securities, told Insider that while he anticipates several competitors will get a boost, Nike is likely to benefit most from the dismantling of Adidas's Yeezy deal. "I think the most obvious beneficiary is Nike," Nikic said. "If all of a sudden that customer who was buying a couple pairs of Yeezys every year now finds themselves with a few 100 extra dollars in their budget every year, the most likely direction they're going to go with that money is Nike: the Jordans and the Dunks." On Tuesday, , now known as Ye, after a string of companies — including Gap, JPMorgan Chase, Balenciaga, Vogue, and Twitter — . The dropped deals come in response to Ye's recent controversial behavior, including on Twitter and wearing a " to his Yeezy fashion show. "Adidas does not tolerate antisemitism and any other sort of hate speech," Adidas said in a statement. "Ye's recent comments and actions have been unacceptable, hateful and dangerous, and they violate the company's values