As of: March 1, 2024, 4:50 p.m
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Adidas still wants to sell the remaining Yeezy products from the controversial collaboration with Kanye West.
© Seth Wenig/AP/dpa
First high sales, then the threat of losses: The collaboration with rapper Kanye West was a roller coaster ride for Adidas.
The sale of remaining stock is intended to prevent further damage.
Herzogenaurach – The sporting goods manufacturer Adidas has announced the sale of further products in the “Yeezy” series, which stem from the collaboration with the controversial rapper Kanye West, which ended in 2022.
Adidas separated from West in 2022 after several statements by the musician and designer that were perceived as anti-Semitic, which meant significant losses for the company.
For a long time there was uncertainty about the sale of the remaining stocks.
Two tranches have now been sold and the next one is now to follow.
Adidas has announced an end to sales at the end of the year.
Cooperation with West: Adidas donates part of the proceeds
The products will only be available digitally, Adidas announced in Herzogenaurach.
The company announced weeks ago that it would be launching more Yeezy products this year at cost-covering prices.
This would mean sales of around 250 million euros.
This would make further significant depreciation unnecessary.
Adidas generated sales of 1.2 billion euros in 2022 with most of its high-priced designer products.
At times there were even fears of losses to the operating result in the event that larger items had to be written off.
The sales in 2023 brought another turnover of 750 million euros.
According to the company, significant amounts of the proceeds were donated to organizations that work against discrimination and hatred, including racism and anti-Semitism.
Sales are expected to end at the end of the year
Adidas now assumes that it will only have to write off smaller items in the double-digit million range, for example in the case of damaged goods or products that are only available in individual sizes.
Yeezy sales are scheduled to end at the end of the year.
(lma/dpa)