Kanye West and Adidas have decided to sell their remaining Yeezy merchandise.
Source: Photo by Johnny Nunez/WireImage / Photo by Johnny Nunez/WireImage
Adidas terminated their partnership with Kanye West in October 2022, but it appears the two entities will still sell their remaining Yeezy merchandise. According to reports, Adidas and Ye will sell a remaining stock of $500,000,000 worth of Yeezy products in 2023. Adidas was initially set to lose $1.3 billion in revenue this year after cutting ties with the rapper.
When speaking on the massive profit loss, Adidas CEO Bjørn Gulden said “The numbers speak for themselves. We are currently not performing the way we should. 2023 will be a year of transition to set the base to again be a growing and profitable company. We will put full focus on the consumer, our athletes, our retail partners and our adidas employees. Together we will work on creating brand heat, improve our product engine, better serve our distribution and assure that adidas is a great and fun place to work. adidas has all the ingredients to be successful: A great brand, great people, fantastic partners and a global infrastructure second to none. We need to put the pieces back together again, but I am convinced that over time we will make adidas shine again. But we need some time.”
Kanye West & Adidas Reach Agreement To Sell Remaining Yeezys was originally published on hiphopnc.com
