Goodbye and good riddance is the mantra adidas can lastly undertake now that the German sportswear model has revealed it has bought its final YEEZY sneaker. Formally clearing out all of its YEEZY inventory — from sneakers to attire merch, adidas not has anymore ties to the rapper previously referred to as Kanye West.
Reuters reported that on Wednesday, adidas introduced that it has ended “the method of liquidating inventory of the profitable shoe partnership with rapper Ye after splitting from him in October 2022.” The model confirmed that it bought its final pair of YEEZY sneakers on the finish of 2024. This marks a brand new starting for adidas, which has been attempting to place its YEEZY affairs previously, particularly since Ye’s antisemitic rants which prompted an abrupt finish to their extremely worthwhile partnership.
The Three Stripes’ Chief Monetary Officer Hurt Ohlmeyer informed press earlier this week following adidas’ reported outcomes, “There may be not one YEEZY shoe left, it has all been bought and that episode is behind us.” adidas has been open about dropping the YEEZY partnership and the way it affected it gross sales, notably within the U.S. The outcomes reviewed this week noticed North American gross sales for the model decline 2% in 2024 “solely because of considerably decrease YEEZY gross sales.” In 2023, adidas pledged that a part of the proceeds from the remaining YEEZY stock gross sales would go to organizations combating antisemitism.
Final 12 months’s YEEZY sneaker gross sales garnered adidas €200 million EUR and stock from the 12 months earlier than generated €300 million EUR in working revenue. The corporate is setting apart €260 million EUR, nearly half of the working earnings adidas made off the inventory in 2023 and 2024, for charitable donations.
