Adidas sold its last remaining pair of Yeezy trainers in the fourth quarter, ending the process of liquidating stock of the lucrative shoe line developed with rapper Ye, whom the sportswear brand cut ties with in October 2022.
Adidas has been trying to put the Yeezy episode behind it since public anti-Semitic rants by Ye, formerly known as Kanye West, forced it to end the highly profitable partnership, denting revenues and driving the company to an annual loss in 2023.
Adidas has felt the loss of Yeezy particularly in the US, where the shoes were popular.
In results reported on Adidas said North America sales were down 2% in 2024,"solely due to significantly lower Yeezy sales".
The company started selling off its remaining stock of Yeezy shoes in May 2023, pledging to donate part of the proceeds to organisations combating anti-semitism, including the Anti-Defamation League.
Adidas reported 2024 revenues from selling off Yeezy trainers were €650 million, with profits of around €200 million.
That is down from the year before, when Adidas made €750 million in revenue from Yeezy inventory, generating €300 million euros in operating profit.
.svg)