are back on sale — months after the German sportswear company cut ties with Ye, the rapper formerly known as Kanye West.in late October, in light of his antisemitic remarks and other harmful behavior. In the months that followed, the fate of 1.2 billion euros worth of unsold Yeezys remained unknown — until earlier this month, when Adidas CEO Bjørn Guldenthe company would be selling a portion of the remaining inventory and donating some of the proceeds to social justice organizations.
Wednesday's release marks the first time that Adidas has sold Yeezys since the partnership termination in October. The Yeezy products up for sale will include already-existing designs as well as those that were initiated in 2022 and set to be released in 2023, Adidas previously noted. At a May 11 annual shareholder meeting, Gulden explained the company made the decision to sell and donate Yeezys after speaking with nongovernmental organizations and groups that were harmed by Ye’s comments and actions.
Net sales declined 1% in the first quarter, to 5.27 billion euros, the company said. It reported a net loss of 24 million euros, a plunge from a profit of 310 million euros in the same period a year ago.
Source: News Formal (newsformal.com)
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