Adidas Is Caught With Yeezy Sneakers Price Extra Than $500 Million: Report

• Adidas is caught with Yeezy inventory price about $530 million, the Monetary Occasions reported.
• It’s now attempting to promote the objects underneath its personal model title to scale back potential losses.
• Yeezy accounted for round 7% of Adidas gross sales this yr, per the FT.

Adidas is caught with Yeezy sneakers price extra €500 million ($530 million) after it lower ties with Kanye West, the Monetary Occasions reported. 

The German sportswear large is now attempting to promote the objects underneath its personal model to attenuate potential losses, in line with the report. 

Yeezy accounted for about 7% of Adidas gross sales this yr to the worth of 1.7 billion euros ($1.8 billion), the newspaper mentioned. 

The Adidas-Yeezy partnership got here to an abrupt halt in October after the rapper made antisemitic remarks on Twitter. Adidas mentioned it will take a $247 million hit to its income consequently.

A number of different corporations dropped Yeezy merchandise from their shops on account of West’s feedback, together with Balenciaga, Hole and Footlocker.

Final month Adidas introduced it was investigating West, also referred to as Ye, following a Rolling Stone report that mentioned he’d acted inappropriately round Yeezy workers. 

It claimed that West confirmed staff specific materials of his ex-wife Kim Kardashian in a gathering, primarily based on interviews with greater than two dozen former Yeezy and Adidas workers.

The Rolling Stone report included claims by a former Yeezy employee that she witnessed Ye inform a younger lady of shade to sit on the ground throughout an hours-long assembly. He allegedly instructed the designer that she did not “deserve to take a seat on the desk.”

Adidas didn’t instantly reply to a request for remark from Insider.