Adidas wonders what to do with Yeezy shoes after Ye split

WVUA 23 Digital,
Germany Adidas Earns
FILE - Boxes containing Yeezy shoes made by Adidas are seen at Laced Up, a sneaker resale store, in Paramus, N.J., Tuesday, Oct. 25, 2022. Adidas’ breakup with rapper Kanye West and the inability to sell his popular Yeezy line of shoes helped batter the company’s earnings at the end of last year. The German shoe and sportswear maker said Wednesday, March 8, 2023, that higher supply costs and slumping revenue in China also helped lead to a net loss of 513 million euros or $540 million in the fourth quarter. (AP Photo/Seth Wenig, File)

The Associated PRess

FRANKFURT, Germany (AP) – Adidas is still wrestling with how to dispose of $1.3 billion worth of Yeezy shoes after its breakup with the rapper formerly known as Kanye West.

The split forced the German sportswear maker into a big loss at the end of last year and expectations of more pain ahead.

The company’s CEO said Wednesday that selling the popular line of shoes would mean paying royalties to Ye.

He says destroying them could raise “sustainability issues,” while restitching them for resale “is not very honest.”

Donating them would likely mean a resurgence of the shoes “so that’s not really an option.”

The breakup helped drive the company to a net loss of 513 million euros in the fourth quarter.

Read the full story on AP News right here.

(Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

3/8/2023 12:00:57 PM (GMT -6:00)

Categories: Regional and US News
Tags: , ,

Related