Adidas is now free to say farewell and good riddance, as they have officially sold their last pair of YEEZY sneakers, severing all formal connections with the musician once known as Kanye West.
According to Reuters, Adidas concluded the process of selling off its remaining stock from its successful shoe collaboration with rapper Ye, following their separation in October 2022. The company confirmed that it sold its final pair of YEEZY sneakers by the end of 2024. This move signifies a fresh start for Adidas as they aim to distance themselves from the YEEZY line, particularly since Ye’s controversial anti-Semitic statements led to an unexpected termination of their highly lucrative partnership.
As a devoted fan, I’m sharing some exciting news based on recent announcements by adidas. Harm Ohlmeyer, their Chief Financial Officer, shared this week that every last pair of the iconic YEEZY shoes has been snapped up – they’re all sold out! It seems we’ve reached the end of an era with this sellout. The impact of losing the YEEZY partnership and its sales, particularly in the U.S., was acknowledged by adidas earlier. This week’s reported results revealed a 2% decline in North American sales for the brand in 2024, solely due to significantly lower YEEZY sales.
However, there’s a silver lining to this story. In 2023, adidas committed that part of the proceeds from the remaining YEEZY inventory sales would be donated to organizations combating antisemitism. So, even though we bid farewell to the YEEZY shoes, the positive impact continues.
In 2021, Adidas earned approximately €500 million EUR from sales of YEEZY sneakers alone, and an additional €300 million EUR in operating profit from their inventory from the previous year. For the years 2023 and 2024, Adidas has earmarked around €260 million EUR – nearly half of the profits they made from YEEZY stock during these years – for charitable contributions.
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2025-03-07 05:55