Adidas has received hundreds of offers for the mountain of unsold Yeezy shoes designed by Ye, the artist formerly known as Kanye West.
Adidas broke off its lucrative nine-year partnership with Ye in October because of his repeated pattern of antisemitic remarks. The move proved costly for the German sportswear maker, who warned that it could suffer its first annual operating loss in more than three decades this year, mostly because it may have to write off the entire range of Yeezy-branded clothing and sneakers. That represents a potential €500 million hit to the company’s bottom line.
But the people that are saying send shoes to Turkey or somewhere where people don’t have shoes, or there has been a tragedy, I think you would agree, that these are not normal shoes,” Gulden said. He said the shoes would “come back again” in the market because of their premium status as pricey luxury fashion sneakers. “The value of the product is not the physical value of the ingredients. It is the branded merchandise that is sold at a high price,” he said.
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