Adidas said Wednesday it was still weighing what to do with its huge inventory of Kanye West’s Yeezy products after it ended its partnership with the controversial rapper.
Potentially not selling the apparel and shoes linked to West would lead to a revenue loss of 1.2 billion euros ($1.3 billion), the group said, announcing its 2022 full-year results.
Adidas halted its tie-up with West – now known formally as Ye – in October 2022 after he made a series of anti-Semitic outbursts.
As a result, the group ended production of the highly successful Yeezy line designed together with West.
“Should the company irrevocably decide not to repurpose any of the existing Yeezy product going forward,” it would have to write off the entire inventory, it said.
That would lower the company’s operating profit by an additional 500 million euros in 2023, it said.
Credit: AFP