Sportswear brand adidas was forced to abandon its Yeezy sneaker line, which it created in collaboration with Kanye West, after severing ties with the rapper. It has been reported Washington post.
In early February 2023, brand representatives warned that adidas would face serious financial losses if it failed to sell the product. Later, the brand’s new CEO, Bjorn Gulden, estimated the total value of the sneakers to be between $300 million and $500 million. The company unintentionally announced that it would lose $1.3 million in revenue last year if it failed to sell. goods.
Market experts have suggested that the company may try to offer buyers Yeezy sneakers without the series name and at a huge discount, but this is too risky as it could negatively affect adidas’ image. There is also the possibility that shoes may be sold through discount centers or retailers in developing countries.
adidas brand tore Kanye West made contact in late October after the rapper was accused of anti-Semitism.