Adidas Ends Its Yeezy Journey: A Turnover Tale

Adidas concluded the sale of its last Yeezy sneakers in the fourth quarter, finalizing the liquidation of its profitable line with Ye. The partnership was terminated due to antisemitic incidents, impacting Adidas' 2023 finances. Despite reduced revenue, Adidas earned significant profits in 2024 from Yeezy sales, pledging donations to antisemitism-fighting charities.

Adidas announced on Wednesday that it has sold the last of its remaining Yeezy sneakers, winding up the liquidation process of the once-lucrative line created with rapper Ye. The partnership, dissolved in October 2022, was severed following Ye's controversial antisemitic comments.

The German sportswear giant has worked to distance itself from the scandal, a move that saw its revenues take a hit and contributed to a financial loss for the company in 2023. The sell-off of Yeezy assets commenced in May 2023, with Adidas committing to donate parts of the proceeds to antisemitism prevention groups, such as the Anti-Defamation League.

According to annual results released on Wednesday, Adidas reported earning 650 million euros ($690 million) from the sale of Yeezy shoes in 2024. However, this figure represents a decrease from the previous year's earnings of 750 million euros. Despite the downturn, the company still realized profits of 200 million euros from the remaining inventory sales.

(With inputs from agencies.)