Adidas AG will start a second batch of Yeezy sneaker sales next week as part of its plan to work through the inventory of products from its cancelled collaboration with the rapper and designer Kanye West.
The German sports company will offer a range of Yeezy footwear in phases throughout the month of August, this time including digital platforms of some wholesale partners, Adidas said Friday.
Adidas already got a financial boost from one sale of Yeezy goods this spring, helping it raise its prospects for the year. More Yeezy sales could help Adidas further cut down on its expected operating loss for 2023, which is currently forecast at €450 million ($499 million). That’s better than the initial €700 million Adidas outlined in February.
The company reiterated plans to donate a significant amount of Yeezy proceeds to organisations working to combat discrimination and hate. It’s now including Robert Kraft’s Foundation to Combat Antisemitism among the groups, and the apparel maker plans to add blue square pins, a symbol for fighting antisemitism and hate, with some products sold in North America, it said.
Adidas terminated its collaboration agreement in October after West, who now goes by Ye, made a series of antisemitic remarks, leaving about €1.2 billion worth of sneakers in limbo.
The shoemaker sold the first batch of Yeezy goods since then in May, exclusively through its website and its mobile app.
By Tim Loh
Learn more:
Adidas Swamped With $565 Million in Orders for Unsold Yeezy Shoes
Adidas got orders worth more than €508 million ($565 million) for 4 million pairs of unsold Yeezy shoes, better than the company’s “most optimistic forecast,” the Financial Times reported on Monday.
