Adidas already has a date to start selling surplus of the Yeezy line it had with rapper Ye (Portal)
adidas already has a date to start selling the surplus line yeezywhich he had released in collaboration with the rapper Yes. The German company announced this by the end May Some already designed models will be available exclusively through the website and its application.
However, no further details have been released on the exact dates or the possibility of later stock releases for the line.
The news broke after Adidas confirmed last week that it would get rid of the surplus of this and that line would donate the money to organizations fighting against racism and hateincluding the Anti-Defamation League and the Philonise & Keeta Floyd Institute for Social Change, brother of George Floyd.
Money from sales will be donated to organizations fighting racism and hate (Bloomberg)
“We believe this is the best solution as it respects the designs created and the shoes made, works for our employees, solves a storage problem and will have a positive impact on our communities,” said CEO Bjoern Gulden a few days ago , had himself commented on many buyers’ decision to light them, “burning them is not the solution.”
In October 2022, Adidas announced the termination of his contract with the rapper Kanye West -known as Ye- as a result of a series of anti-Semitic and racist acts and sayings that have caused controversy around the world and are far removed from the values that the brand wants to communicate.
“Hate of any kind has no place in sport or in society and we continue to fight against it,” added the CEO.
This forced a pause one of the most successful lines of the Germans -whose income was 10% of the brand’s annual income- and left it at a Inventory of items worth nearly $1.3 billion.
The termination left the brand with an inventory of items worth around $1.3 billion (Portal)
In turn, the price of these sneakers has more than doubled on the resale market.
Despite the fact that this operation is expected to be a success, Adidas has already announced that it will not have any immediate impact on its 2023 prospects.
The decision to resume Yeezy sales was not an easy one; on the contrary, it happened after much deliberation, in which the company considered a series of alternatives, none of which was left unscathed.
Adidas initially thought about changing the distinctive branding of these items, liquidating them or donating them, but eventually settled on a solution that would allow them to offset “most” of the losses caused while also contributing to the benefit society and fix the problem. Damage caused by the artist.
Recently, Ye has been involved in a series of scandals that have included anti-Semitic and racist remarks (Portal).
According to the company itself, the net loss reached from the contract termination to March this year 39 million euros compared to the profit of 482 million euros a year ago.
“We aim to normalize our values over the course of the year. This is critical to be able to reduce discount levels, grow our full price business and rebuild the warmth of the brand,” concluded the CEO.
(With information from Portal)
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