Kanye West’s collab with Adidas has formally ended now that the footwear big unloaded remaining stock after a contentious cut up.
Adidas lastly closed the Yeezy chapter after promoting its final pair of the controversial Kanye West-designed sneakers on Wednesday (March 5), marking the top of a turbulent saga that value the sportswear titan dearly.
Rewind to Valentine’s Day 2015, when Adidas and Kanye West—who now goes by Ye—made sneakerheads go nuts with the premiere of the Yeezy Increase 750.
The collaboration swiftly turned a juggernaut, raking in large income whereas elevating Adidas’ streetwear cred to unprecedented heights.
However what started as a sneaker love story dramatically unraveled right into a messy breakup in 2022 after Ye sparked public fury with repeated antisemitic remarks.
The German athletic attire powerhouse shortly severed its profitable partnership, leaving warehouses bursting on the seams with unsold Yeezy sneakers—a listing reportedly value round $1.3 billion.
The sudden cut up additionally left Adidas licking its wounds, as the corporate posted its first annual loss in over 30 years, clearly feeling the monetary sting.
In Might 2023, Adidas CEO Bjorn Gulden introduced a strategic plan to filter out the leftover merchandise, selecting to promote somewhat than destroy the remaining inventory.
Gulden stood agency, stating on the time, “That is significantly better than destroying and writing off the stock.”
To alleviate backlash and deal with the controversy head-on, Adidas dedicated parts of the gross sales to charitable organizations devoted to combating antisemitism, together with the Anti-Defamation League and the Basis to Fight Antisemitism, based by Patriots proprietor Robert Kraft.
But, regardless of these efforts, the Kanye West-Adidas cut up continued to hang-out the corporate’s steadiness sheet.
Adidas confirmed on Wednesday (March 5) that North American income dropped by two p.c in 2024, attributing the decline “solely as a result of considerably decrease Yeezy gross sales.”
