Adidas is currently stuck with US$1.3B worth of unsold Yeezy shoes
BNN Bloomberg
It's been nearly seven months since Adidas split with the rapper formerly known as Kanye West, and boxes of his popular Yeezy shoes are still piled up in warehouses.
The fate of 1.2 billion euros (US$1.3 billion) worth of unsold Yeezy stock is weighing on the German sportswear company as it tries to engineer a turnaround from the loss of the lucrative sneaker line and the continued fallout over its former ties to Ye.
Adidas is “getting closer and closer to making a decision” on what to do with the sneakers and the “options are narrowing,” new CEO Bjorn Gulden said in a conference call Friday after reporting 400 million euros ($441 million) in lost sales at the start of the year.
But with “so many interested parties” involved in the discussions, no decision had yet been reached, he said.