The sporting goods manufacturer Adidas has announced that it will sell further products from 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.
The products will only be available digitally, Adidas announced on Monday 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.
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. (dpa)