Sportswear giant Adidas has said that it intends to sell all remaining stock of its ‘Yeezy’ trainers after the much-publicised breakdown of its formerly lucrative relationship with Kanye West.
Having severed all ties with West in October 2022 over anti-semitic comments made by the recording artist during a podcast, Adidas is now set to offload all remaining items from the doomed partnership for at least the price it cost to make them.
Despite the ongoing controversy surrounding the degradation of the German brand’s relationship with West, global demand for the luxury trainers remains high.
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The discontinuation of the partnership went on to impact Adidas financial returns for 2023, with the firm forced to cut prices to wholesalers to shrink stockpiles of goods.
Entering into an increasingly bitter conflict with West, Adidas even claimed last summer that the rapper owed the company £60 million of ‘misappropriated’ marketing funds.
Although Adidas maintains that it intends to sell the remaining Yeezy items, a recent assessment concluded that it could still potentially write-off the remaining stock – which would cost it an estimated £255 million.
