Adidas announced the sale of its last Yeezy sneakers, a brand developed with Ye. This decision follows the company's separation from Ye after his antisemitic remarks led to a significant loss, reportedly costing Adidas 250 million euros. The sale of remaining Yeezy stock generated about 50 million in Q4 2024, contributing to a 24 percent increase in overall revenue. However, North America saw a decline in sales largely dependent on Yeezy, prompting a cautious outlook with lowered revenue growth forecasts moving forward. The company is navigating the aftermath of this breakup and its implications.
The sale of Adidas' remaining Yeezy inventory generated about 50 million in the fourth quarter of 2024, boosting the company's overall revenue to 5.97 billion, up 24 percent from a year earlier.
Adidas had said that ending its nearly decade-long collaboration with the American entertainer cost it nearly 250 million euros that year.
After ending its ties with Ye, the apparel company struggled with slowing sales and revelations that it had ignored the rapper's misconduct for years.
The breakup was hardest felt in North America, where the apparel was driven by the Grammy-winning rapper's popularity.
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