Adidas has resumed selling Yeezy shoes online, months after cutting ties with the brand’s creator, rapper Kanye West.[0] The sportswear company released a new Yeezy drop on May 31, featuring 15 of West’s shoe designs, including different colorways of the Yeezy Boost 350 V2, Foam Runner, and Yeezy Slide.[0] The decision to sell remaining Yeezy stock was made after Adidas ended its partnership with West in late 2022 following antisemitic remarks and other harmful behavior.[1] Adidas CEO Bjorn Gulden said the company would donate a significant amount of profits to organizations combating discrimination and hate, including the Anti-Defamation League and the Philonise & Keeta Floyd Institute for Social Change.[1] The sale of existing inventory is expected to generate a windfall of around $140m for West.[2] Adidas also revealed that additional releases of existing inventory are currently under consideration.[3]
Adidas’ decision to discontinue Yeezy merchandise affected the company’s full-year revenue by about $1.28bn and its operating profit by $533m, with the discontinuation costing the company nearly $440m in sales in the first quarter alone.[1] In February, investors announced they would sue Adidas over West’s remarks, but the company denied the allegations.[1] The sale of remaining Yeezy stock is expected to raise funds for social justice organizations while also resolving Adidas’ inventory problem.[3] Adidas said it remains committed to fighting against hate and discrimination. The sale of Yeezy shoes has been welcomed by fans worldwide, who will be able to purchase their favorite Yeezy designs on Adidas’ official website and the Adidas Confirmed App.
0. “Adidas Is Selling Yeezy’s Again” Hits 96, 31 May. 2023, https://www.hits96.com/i/adidas-is-selling-yeezys-again/
1. “Adidas begins selling off Yeezy brand sneakers, 7 months after cutting ties with Ye” KRCU, 1 Jun. 2023, https://www.krcu.org/2023-06-01/adidas-begins-selling-off-yeezy-brand-sneakers-7-months-after-cutting-ties-with-ye
2. “Yeezys go back on sale as Adidas liquidates its inventory after Kanye West debacle” Fortune, 31 May. 2023, https://fortune.com/2023/05/31/yeezys-on-sale-adidas-2023
3. “Everything to Know About the Final adidas YEEZY Sneaker Sale” Highsnobiety, 30 May. 2023, https://www.highsnobiety.com/p/adidas-yeezy-release-2023/