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

• Adidas is caught with Yeezy inventory value about $530 million, the Monetary Instances reported.
• It’s now making an attempt to promote the objects underneath its personal model identify to scale back potential losses.
• Yeezy accounted for round 7% of Adidas gross sales this 12 months, per the FT.

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

The German sportswear large is now making an attempt to promote the objects underneath its personal model to reduce potential losses, based on the report. 

Yeezy accounted for about 7% of Adidas gross sales this 12 months to the worth of 1.7 billion euros ($1.8 billion), the newspaper stated. 

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

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

Final month Adidas introduced it was investigating West, often known as Ye, following a Rolling Stone report that stated he’d acted inappropriately round Yeezy workers. 

It claimed that West confirmed employees specific materials of his ex-wife Kim Kardashian in a gathering, based mostly 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 colour to sit on the ground throughout an hours-long assembly. He allegedly informed the designer that she did not “deserve to sit down on the desk.”

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