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Adidas AG still has remaining Yeezy sneakers in its storage after the company terminated its partnership with Kanye West or Ye. Some of these shoes were already sold in August and brought in about $437 million.
While the sale has been successful, Adidas said it has yet to decide whether to sell the remaining stocks of Yeezy or just give them up. The company’s chief executive officer, Bjorn Gulden, said it will no longer sell more stock this year and will assess the market to see if it will sell more next year instead.
Possible Yezzy Shoe Write-Off
Associated Press News reported that Adidas thinks it may have to write off the remaining Yeezy shoes which are estimated to be worth €300 million or about $320 million. These are part of the batches that were left unsold after the company severed ties with West.
Adidas is expected to make its decision in the coming weeks and if a third release is confirmed, it will be able to generate more profits that will partly be donated to various organizations that are working to fight antisemitism. It was noted that the apparel and sneaker maker’s announcement about the third drop comes at a time when antisemitism and islamophobia are on the rise following the outset of the Israel-Hamas war.
Adidas Reveals High Demand for Samba Shoes
Meanwhile, Reuters reported that Adidas also shared on Wednesday, Nov. 8, that the demand for its Samba shoe line has been overwhelming. In fact, the company said it increased the production of the sneakers to meet the high demand.
"We see the interest in our brand and products increasing in all markets," CEO Gulden said. "Demand is much higher globally than we have supply, so we could have had much higher sales if we had the product."
The huge interest in Samba and other ”terrace” shoe ranges including the Gazelle, Campus, and Spezial helped Adidas in its turnaround after suffering from huge losses as a result of its breakup with Kanye West last year.
