Yeezy shoes still stuck in limbo after Adidas split with Ye

May 5, 2023

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 still hasn’t figured out what to do with $1.3 billion worth of high-end Yeezy sneakers after splitting with the rapper formerly known as Kanye West. The shoes have been sitting in warehouses for nearly seven months since the German sportswear company ended ties with Ye over his antisemitic and other offensive remarks. CEO Bjorn Gulden said Friday that Adidas is “getting closer and closer to making a decision.” He’s declined to say if destroying the shoes had been ruled out, but the company is “trying to avoid that.” Adidas reported that the breakup cost it $441 million in lost sales at the start of the year.

Read the full story on AP News right here.

5/5/2023 11:35:31 AM (GMT -5:00)

Categories: Regional and US News