Yeezy news and archive

Adidas raises 2023 outlook

Performance at Adidas was again positively impacted by the sale of parts of its remaining Yeezy inventory, and the underlying business also developed better than expected. Consequently, the company has updated its full year guidance. Adidas now expects currency neutral revenues to decline at a low-single-digit rate in 2023 compared to earlier...

Business

Adidas CEO defends former collaborator Kanye West

A remarkable statement has been made by Adidas CEO Bjorn Gulden, who indicated in the podcast 'In Good Company' that he did not think entrepreneur, designer and artist Ye (formerly known as Kanye West) meant the anti-Semitic statements he made. Among other things, these statements by Ye caused Adidas' collaboration with the artist for the Yeezy...

Fashion

Demand for Yeezy has yet to wane

Demand for Yeezy sneakers has not faded, despite almost a year of controversy surrounding Adidas’ now broken partnership with Ye, formerly known as Kanye West. The first drop, which was sold between April and June, secured the sportswear giant 400 million euros, and has also seen the value of Yeezy's on the secondary market continue to soar....

BusinessFeatured

Adidas expects sale of Yeezy inventory to further drive results

In the second quarter of 2023, currency-neutral revenues were flat at Adidas versus the prior-year level and in euro terms, the company’s revenues declined 5 percent to 5.343 billion euros. Even in the first half of 2023, currency-neutral revenues were flat, while in euro terms, revenues decreased 3 percent to 10.617 billion euros. On August 2,...

Business

Adidas announces second phase of Yeezy inventory sale

Sportswear giant Adidas has announced the second release of its leftover Yeezy inventory which is set to drop throughout August across the world. The announcement comes days after it was reported that the first batch released as part of its previous sale in May had garnered the company 565 million dollars in orders for the unsold products. Like...

Business

Adidas reportedly snaps up 508 million euros in first Yeezy sale

Sportswear giant Adidas is believed to have secured orders worth over 508 million euros in the first sale of Yeezy shoes as part of its writedown in the brand’s remaining stock. Adidas had opted to halt the sale of Yeezy sneakers in October after the downfall of its partnership with the controversial designer and rapper Kanye West following his...

Business

Adidas says Kanye West misappropriated 75 million dollars of marketing funds

In April of this year, shareholders of Adidas turned to the courts, lodging a lawsuit against the renowned sportswear giant, citing its failure to implement precautionary measures concerning the well-publiciced problematic behaviour of Kanye West, also known as Ye. The shoe is now on the other foot, with Mr. West finding himself at the center of...

Fashion

These are the most counterfeit sneakers

As Oscar Wilde said, “imitation is the sincerest form of flattery”. For sneaker manufacturers, however, this is only a small consolation, because they miss out on much revenue each year - millions, to be sure, because according to estimates, the global sneaker market is worth more than 81 billion British pounds (100 billion US dollars). When...

Business

Adidas to begin selling remaining Yeezy products

Adidas has said that it is set to begin selling some of its remaining Yeezy products by the end of May, all to be exclusively available through its e-commerce site and app. As initially speculated, a “significant amount” will be donated to select organisations that the brand said are tackling discrimination and hate, including, among others, the...

BusinessFeatured

Adidas tackles inventory woes with strategic Yeezy shoe sale

Adidas has at last addressed the conspicuous overhang of 1.2 billion euros worth of Yeezy sneakers that has been weighing down its inventory. In a move aimed at rectifying the situation, the German sportswear giant confirmed its plan to sell the unsold Yeezy shoes while allocating a portion of the proceeds to charitable causes. Adidas CEO, Björn...

BusinessFeatured

Adidas sales decline, Yeezy crisis continues to weigh on results

In the first quarter of 2023, currency-neutral revenues at Adidas Ag were flat versus the prior-year level. In euro terms, the company’s revenues declined 1 percent to 5.274 billion euros. The company said in a statement that top-line development was impacted by significantly reduced sell-in to the wholesale channel as part of the company’s...

Business

Kanye West and Yeezy ordered to pay 300,000 dollars to snubbed creator

As another day passes, another Kanye West saga has unravelled. The rapper-turned-designer and his brand Yeezy have now been ordered to pay over 300,000 dollars to New York-based creative Katelyn Mooney after failing to attend a court session. A default judgement was filed in Mooney’s favour at Manhattan Supreme Court when no legal representative...