Undisclosed number of Yeezy sneakers awaiting fate in Adidas warehouse
Jenny Goldsberry
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Adidas CEO Bjorn Gulden admitted during a conference call Friday that Yeezy sneakers are still sitting untouched in its warehouses.
As the “options are narrowing” for the abandoned collaboration with rapper Kanye West following his antisemitic and offensive remarks made on Twitter, Gulden says Adidas is “getting closer and closer to making a decision” roughly seven months later. The CEO claimed there were “so many interested parties” in the $1.3 billion worth of Yeezy stock.
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Of the current options, Adidas is “trying to avoid” destroying the remaining stock.
Yet Gulden also refrained from revealing the number of pairs left “because then the consumer would know how many we have, and that could have an impact on demand.” For that same reason, Adidas is less inclined to consider giving the shoes away as that will only increase the shoes’ resale value. During the Friday conference call, the company reported $441 million in losses since the start of the year and stands to lose close to $550 million additionally if the shoes are not sold.
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“It’s very sad that this is falling apart,” Gulden said during the March earnings call.
The Yeezy brand accounted for $1.2 billion of Adidas’s sales in 2022, according to a reported analysis.