Tags: unsold

Adidas Faces Potential Loss of $1.3bn Due To Unsold Kanye West’s Yeezy stock

German multinational sportswear giant Adidas faces a potential revenue loss of €1.2 billion ($1.3 billion) in 2023 if it is unable to sell its existing Yeezy stock following the termination of its partnership with rap mogul, Kanye West and the Yeezy brand in October 2022. As the company continues to evaluate future options for utilizing…

Adidas warns unsold Yeezy inventory could wipe out profit for the first time in three decades

Adidas has warned its unsold Yeezy stockpile could wipe out profits for the first time in three decades amid its breakup with Kanye West following his anti-Semitic rants.  The retail giant’s shares plummeted over 12 percent on Friday after the company admitted it could lose hundreds of millions due to its unsellable inventory of the…