Adidas sold its last pair of Yeezy sneakers in the last quarter of 2024, the sportswear brand announced on Wednesday.
In its 2024 annual earnings report, Adidas stated that it has now liquidated all the stock of the profitable shoe partnership with rapper Ye after having split from him in October 2022.
Adidas parted ways with Ye, formerly known as Kanye West, as a result of his antisemitic remarks and wearing a “White Lives Matter” T-shirt at Paris Fashion Week. Adidas placed its partnership with Ye under review on October 7, 2022, and eventually terminated the deal on October 25.
Adidas reported that the last inventory of Yeezy sneakers it sold generated around EUR 650 million in revenue in 2024, about EUR 100 million less than in 2023.
“There is not one Yeezy shoe left; it has all been sold, and that episode is behind us,” Chief Financial Officer Harm Ohlmeyer told reporters on Wednesday after the report was released.
When the German company began selling off its remaining inventory of Yeezy sneakers in May 2023, it promised to contribute a portion of the sales to groups that fight antisemitism, such as the Anti-Defamation League.
Adidas’ sales of its Yeezy footwear supply in 2023 and 2024 amounted to roughly half of its operational profit.
The company’s CEO, Bjorn Gulden, announced at a press conference that the company has allocated 260 million euros from the sales of Yeezy to philanthropic causes.
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