The sporting goods manufacturer Adidas has announced the sale of further products from the "Yeezy" range, which stem from the collaboration with the controversial rapper Kanye West that ended in 2022. Adidas parted ways with West in 2022 after the musician and designer made several statements that were perceived as anti-Semitic, which meant considerable losses for the company. The sale of the remaining stock was unclear for a long time. Two tranches have now been sold and the next is to follow. Adidas has announced an end to the sales for the end of the year.
The products will only be available digitally, Adidas announced in Herzogenaurach on Monday. The company had already announced weeks ago that it would launch further Yeezy products on the market this year at cost-covering prices. This would mean sales of around 250 million euros. This would make further significant write-downs unnecessary.
Adidas had generated sales of 1.2 billion euros with most of its high-priced designer products in 2022. In the meantime, there were even fears of losses for the operating result in the event that larger items had to be written off. The sales in 2023 generated additional revenue of 750 million euros. According to the company, significant amounts of the proceeds were donated to organizations that campaign against discrimination and hatred, including racism and anti-Semitism.
In the meantime, Adidas assumes that it will only have to write off smaller items in the double-digit million euro range, such as damaged goods or products that are only available in individual sizes. Yeezy sales are set to end at the end of the year.
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