adidas Has Officially Sold All Its YEEZY Inventory
Goodbye and good riddance is the mantra adidas can finally adopt now that the German sportswear brand has finally sold its last YEEZY sneaker. Officially clearing out all of its YEEZY stock, adidas no longer has any official ties to the rapper formerly known as Kanye West. Reuters reported that on Wednesday, adidas announced that it has officially ended "the process of liquidating stock of the lucrative shoe partnership with rapper Ye after splitting from him in October 2022." The brand confirmed that it sold its last pair of YEEZY sneakers at the end of 2024. This marks a new beginning for adidas, which has been trying to put its YEEZY affairs in the past, especially since Ye's antisemitic rants which caused an abrupt end to their highly profitable partnership.The Three Stripes' Chief Financial Officer Harm Ohlmeyer told press earlier this week following adidas' reported results, "There is not one YEEZY shoe left, it has all been sold and that episode is behind us." adidas has been open about losing the YEEZY partnership and how it affected it sales, particularly in the U.S. The results reviewed this week saw North American sales for the brand decline 2% in 2024 "solely due to significantly lower YEEZY sales." In 2023, adidas pledged that part of the proceeds from the remaining YEEZY inventory sales would go to organizations combating antisemitism. Last year's YEEZY sneaker sales garnered adidas €200 million EUR and inventory from the year before generated €300 million EUR in operating profit. The company is setting aside €260 million EUR, almost half of the operating profits adidas made off the stock in 2023 and 2024, for charitable donations.Click here to view full gallery at Hypebeast
Goodbye and good riddance is the mantra adidas can finally adopt now that the German sportswear brand has finally sold its last YEEZY sneaker. Officially clearing out all of its YEEZY stock, adidas no longer has any official ties to the rapper formerly known as Kanye West.
Reuters reported that on Wednesday, adidas announced that it has officially ended "the process of liquidating stock of the lucrative shoe partnership with rapper Ye after splitting from him in October 2022." The brand confirmed that it sold its last pair of YEEZY sneakers at the end of 2024. This marks a new beginning for adidas, which has been trying to put its YEEZY affairs in the past, especially since Ye's antisemitic rants which caused an abrupt end to their highly profitable partnership.
The Three Stripes' Chief Financial Officer Harm Ohlmeyer told press earlier this week following adidas' reported results, "There is not one YEEZY shoe left, it has all been sold and that episode is behind us." adidas has been open about losing the YEEZY partnership and how it affected it sales, particularly in the U.S. The results reviewed this week saw North American sales for the brand decline 2% in 2024 "solely due to significantly lower YEEZY sales." In 2023, adidas pledged that part of the proceeds from the remaining YEEZY inventory sales would go to organizations combating antisemitism.
Last year's YEEZY sneaker sales garnered adidas €200 million EUR and inventory from the year before generated €300 million EUR in operating profit. The company is setting aside €260 million EUR, almost half of the operating profits adidas made off the stock in 2023 and 2024, for charitable donations.
Click here to view full gallery at Hypebeast
