Adidas says it may write off remaining unsold Yeezy shoes after breakup with Ye
FRANKFURT - Adidas says it may write off the remaining 300 million euros ($320 million) worth of Yeezy shoes left unsold after it cut ties with rapper Ye, formerly known as Kanye West.
The company said Wednesday that it will decide in the coming weeks whether to sell them next year to generate more donations to groups fighting antisemitism.
The shoe and sports clothing company, which cut ties with Ye in October 2022 after he made antisemitic remarks online, has sold 750 million euros worth of the shoes in two stages earlier this year through Adidas smartphone apps and its website.
Part of the profits went to groups like the Anti-Defamation League.
Yeezy shoes made by Adidas are displayed at Laced Up, a sneaker resale store, in Paramus, N.J., on Oct. 25, 2022. (AP Photo/Seth Wenig, File)