After Cutting Ties With Kanye West Following The Rapper's Abhorrent Anti -Semitic Comments in Octaber 2022, Adidas Has Finally Offloaded the Last of Its Yeezy Stock.
“There is not one Yeezy Shoe Left,” Said Adidas Chief Financial Officer Harm Ohlmeyer, Following The Company's Earnings Report on Wednesday. “IT HAS All Been Sold and That Episode is Behind Us.”
It Marked The End of a Once-Lucrative Partnership Betaeen the German-Based Sportswear Giant and West, Whose Yeezy Footwear and Apparel Line Became A Cultural Phenomenon After The Parties Inked a Deal in 2013. The Nearly Decade-Long Relationship Boosted West's Net Worth by By $ 1.5 Billion, Forbes Estimated.
But that Came Crashing Down in Fall 2022 When West Decided to Debut a Controversial White Lives Matter T-shirt During His Yeezy Runway Show at Paris Fashion Week. The 47-Year-Old Responded to the Criticism by Going on a Weeks-Long Anti-Semitic Rant on Social Media, Including Vowing to Go “Death with 3 on Jewish People.” (West Later Apologzed for his comment, but in Febargey He Once Again Began Making Anti-Semitic Remarks, Decolate Himself in Nazi and Began Selling Swastika T-shirts.)
By the End of Octaber, Adidas Decideed it has to cut ties with west over His statements and behavior, NOting the decision would immediate IMMATELY LEAD TO AN ESTIMATED LOSS OF NEARLY $ 250 Million for the 2022 Year. “Adidas Does Not tolerate Anti -Semitct and Any Other Sort of Hate Speech,” The Company Said in a statement at the time. “Ye's recent comments and actions have Been Hangiaptable, Hateful and Dangerous, and then Violate The Company's Values of Diversity and Inclusion, Mutual Respect and Faiorss.”
In Wake of the Split, Some Adidas Staffers Who Worked On Yeezy Wrote An Open Letter to Executives Claiming Ayy Had Known About West's “Problematic Behavior” for Years. TO Rolling Stone Report Found That West Fosted in Toxic, Chaotic Work Environment and Had a History of Showing Pornographic Materials Ture Tu Employees. Adidas Employees Accused Company Leadership of “Turn[ing] Their Moral Compass Off “Two to the Amount of Money West Raked in.
Moving Forward, Adidas decide to liquidate the rest of its Yeezy Stock, Donating a Portation of the Profits to the Anti-Defamation League and the Foundation to Combat Anti-Semitix. By the End of 2024, Adidas Managed to Sell the Remaining Yeezy Inventory, Which Brough in Roughly $ 54 Million in Revenue for ITS Fourth Quarter.
