Report: Adidas is sitting on $1.3 billion in unsold Yeezys
thefader.comAdidas is currently figuring out what to do with its stock of unsold Yeezy shoes worth $1.3 billion, Billboard reports. The company ended its association with Yeezy founder Kanye West after his spate of anti-Semitic comments in late 2022.
CEO Bjorn Gulden said on a conference call that Adidas is “getting closer and closer to making a decision” on the fate of the shoe stockpile.
Gulden claimed that Adidas was “trying to avoid" destroying the shoes, which he says have "many interested parties." Some options listed on the call included rebranding the shoes, donating them, or an outright sale, though each choice comes with its own specific drawbacks, according to Gulden.
Read Next: Adidas shareholders launch class action lawsuit over Kanye West’s problematic behavior The call shed some light on the financial impact of West and Adidas's separation.
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