Adidas won’t write off remaining Yeezy sneakers

Adidas discloses ultimate resolution regarding the substantial remaining inventory of Yeezy sneakers

Adidas announced on Wednesday that it won’t write off the majority of its unsold Yeezy inventory and instead plans to sell the remaining shoes.

The German sportswear giant had previously considered writing off about 300 million euros ($325 million), in unsold Yeezy inventory after the company cut ties with rapper Ye, formerly known as Kanye West.

The company attributed the profit to its “better-than-expected operational business” during its fourth quarter and the decision to sell the majority of the remaining Yeezy inventory. 

Following the latest decision, the 2023 operating profit now only includes a low double-digit million amount of Yeezy-related inventory write-offs.Instead, the company plans to sell the remaining Yeezy product at least at cost in 2024.

Source:Newsroom

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