From “zombie Yeezys” to literally burning the sneakers, experts say Adidas faces ethical and financial tripwires at every turn.
Nike would not say, but industry analyst Matt Powell believes it destroyed its supply of Air Zoom Vick Vs.
in revenue this year and 500 million euros in operating profit if it cannot repurpose the merchandise.“What makes this so dramatic is how big it is,” said Wedbush analyst Tom Nikic, noting that the Yeezy brand was doing nearly $2 billion a year in revenue. “That’s really a big, substantial part of [Adidas’s] business — and the abruptness with which it happened” is also remarkable.
“This is a common practice in lesser-developed countries where goods find their way into a local marketplace,” Cohen said.
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