Adidas is stuck with Yeezy Sneakers Worth More than $500 Million: Report

  • According to the Financial Times, Adidas has remained with Yeezy stock for $530 million.
  • It is now trying sell the items under its own brand to reduce potential losses.
  • According to the FT, Yeezy accounted approximately 7% of Adidas’s sales this year.

Adidas is stuck with Yeezy sneakers worth more €500 million ($530 million) after it cut ties with Kanye West, the Financial Times reported.

According to the report, the German sportswear company is now trying sell the items under its own brand in order to minimize potential losses.

The newspaper reported that Yeezy accounted to about 7% in Adidas’s sales this year, with a value of 1.7 million euros ($1.8 billion).

The Adidas-Yeezy partnership was announced at abrupt halt in OctoberAfter the rapper made antisemitic remarksTwitter. Adidas claimed that it would suffer a $247million loss in its profits.

There are many other companies dropped Yeezy productsWest’s comments prompted them to close their stores, including Balenciaga and Gap.

Adidas announced last month that they were investigating WestKnown also as Ye, after a Rolling StoneReport that he had acted inappropriately in the presence of Yeezy staff.

It claimed that West showed workers explicit materialKim Kardashian, his ex-wife, in a meeting. Based on interviews with more that two dozen former Adidas and Yeezy staff.

Rolling Stone reported that a former Yeezy worker claimed Ye told a young woman of colour to her. sit on the floorDuring a long meeting lasting over an hour. According to reports, he told the designer that he didn’t “deserve to be at the table.”

Insider asked Adidas for comment, but it did not respond immediately.

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