Adidas Yeezy Inventory Sales: Adidas plans to make a second batch of their high-end Yeezy shoes. Since Adidas broke up with Kanye West, who now goes by the name “Ye,” this is a big change. The company wants to sell extra shoes and use the money to help anti-Semitism groups.
From Wednesday on, the sale will only be online. You can get to it through apps on your phone and Adidas’s website. Fans can expect to see models like the Yeezy Boost 350 V2, 500, 700, Slide, and Foam RNR. This move comes after sales in May.
Because Ye said hurtful and anti-Semitic things online and in interviews, the brand cut ties with him in October. Adidas had Yeezy shoes worth 1.3 billion euros ($1.2 billion) that weren’t selling and needed a smart way to get rid of them.
As a way to get rid of extra stock and do good, Adidas CEO Bjrn Gulden suggested selling popular sneakers and giving some of the money to charity. The company worked with non-governmental organizations (NGOs) and affected groups to make sure the money made a difference.
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The Anti-Defamation League and the Philonise & Keeta Floyd Institute for Social Change will get money from the sales of Yeezy shoes. Philonise Floyd is in charge of this group. She is the brother of the late George Floyd and a well-known advocate for social justice. Adidas will add blue square pins to Yeezy shoes sold in North America to show solidarity against antisemitism. The Robert Kraft Foundation to Combat Antisemitism made this symbol.
Adidas hasn’t said how much of its sales go to charity or how many items it sells. When asked about Ye’s royalties, the company didn’t say anything more than that they would keep their contractual obligations.
Adidas said that the sale of Yeezy shoes had a positive effect on their Q2 results. This made the company change its plans for the year. Adidas expected a high-single-digit drop in sales, but now it expects a mid-single-digit drop. This means that the company will have an operating loss of 450 million euros this year instead of the 700 million euros loss it expected before.
With earnings for the first half of the year coming out on Thursday, the brand expects Yeezy sales to boost overall performance.
As the online launch gets closer, Adidas wants to find a good balance between clearing out old stock and helping important causes. In the end, it wants to fight antisemitism in a good way. This move is in line with the brand’s promise to be socially responsible and help the community.
Our Reader’s Queries
How much sales does Adidas Yeezy make?
The latest report shows that Yeezy sales have brought in over $800 million in revenue since the partnership ended. Rather than getting rid of the remaining Yeezy merchandise, Adidas has chosen to keep selling it and give the profits to organizations that fight against hate.
What will Adidas do with Yeezy inventory?
Adidas plans to sell its remaining Yeezy inventory and donate the proceeds to charities impacted by Ye’s anti-Semitic remarks, according to the company’s CEO. Instead of discarding the unsold items, Adidas aims to use them to make a positive impact.
What is Adidas operating loss for 2023?
The German company announced a projected operating loss of approximately 100 million euros ($106 million) for 2023, down from the previous estimate of 450 million euros.
How many pairs of Yeezys are released per drop?
Which designer can sell 40,000 shoes in just two minutes? West questions. Kim adds that the actual time is only one minute. If West’s claim is true (and he’s likely to have accurate information), then 40,000 pairs of Yeezys are produced in each run.