AssetID: 54580476
Headline: UNCAPTIONED: Adidas sells final pair of Kanye West's Yeezy trainers
Caption: Adidas has sold the last remaining pair of Yeezy trainers more than two years after cutting ties with controversial musician Kanye West. The sportswear giant distanced itself from the US rapper after he made a slew of antisemitic comments in 2022. But this left the company with a mountain of Yeezy stock, with an estimated retail value of $1.3 billion (£1 billion), left sitting in warehouses. Ending the partnership also contributed to Adidas posting its first annual loss for more than three decades. Back in 2023, the German brand confirmed it had plans to start selling the remaining Yeezy merchandise - donating some of the proceeds to charity. Contributions were made to organisations including the Anti-Defamation League and Robert Kraft's Foundation to Combat Antisemitism. Defending the decision to sell the stock, Adidas chief executive Bjorn Gulden said at the time: "This is much better than destroying and writing off the inventory.” The Adidas and West collaboration debuted in February 2015 with the Yeezy Boost 750 released on Valentine's Day. The partnership with West, also known as Ye, was at first hugely lucrative for the brand. Announcing its annual financial results on Wednesday this week, Adidas said North America revenues in 2024 had fallen by two per cent, and this was "solely due to significantly lower Yeezy sales”. Instructions: THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
Keywords: Adidas,Kanye West,Yeezy,Trainers,US,Rapper,Antisemitic,Comments,Company,Warehouses,Value,Stock,Singer,Ye,Partnership,Anti-Defamation League,Robert Kraft,Foundation
PersonInImage: