Will remaining Adidas Yeezy sneakers be sold in 2024? Adidas outlines plan for inventory

 After a temporary suspension in the retail of Adidas Yeezy footwear back in November, stemming from the ongoing crisis in the Middle East, Adidas has recently announced that the iconic Adidas Yeezy Cheap footwear line is poised to make a return in 2024.

The company's just-released annual financial report for 2023 revealed that Adidas exceeded revenue and operating profit expectations in the fourth quarter. This success is attributed to the strategic decision not to overlook the majority of its remaining Yeezy inventory.

The Three Stripes label appears to have reevaluated the significance of Yeezy products in its overall business strategy, signaling a renewed commitment to the iconic line.

In the upcoming year, the German sportswear brand is set to liquidate the remaining Yeezy products in its inventory. Nevertheless, the label's CEO has shared that the existing Yeezy stock would, at a minimum, be priced to cover expenses.

In November 2023, the Three Stripes brand disclosed that it retained a substantial inventory, valued at €300 million, of Yeezy footwear. This excess inventory remained after the German label ended its association with Kanye West in October 2022 because of his inflammatory social media posts.

The brand resumed selling Yeezys in May 2023 but later halted sales of the footwear due to concerns about the potential backlash associated with West.

Adidas' CEO, Bjørn Gulden, has shifted his stance on Yeezy sales, deviating from his earlier position and stated:

"For the full year our currency-neutral revenues were flat, and we reached an operating profit of €268 million. This is €68 million better than what we guided for. The improvement is due to the better operating business of around €100 million and the decision to not write off €268 million of Yeezy inventory."

"Our consumer, retail and trade research has shown that we can sell this remaining inventory in 2024 for at least the cost price. This is why we have only written off inventory that was either damaged or very broken in sizes." He continued.

The still-ongoing story between Ye and Adidas has been developing since October 2022, marked by a sequence of choices and changes. After initially announcing its decision to stop selling Adidas Yeezys, Adidas quickly changed its mind and organized an unofficial Yeezy Day in 2023.

Nevertheless, after receiving criticism for Ye's remarks, Adidas discontinued Yeezy sales due to concerns of cultural appropriation. However, they later decided to resume sales to support various initiatives. However, amid increasing conflicts in the Gaza Strip and Israel, Adidas once again chose to cease Yeezy sales.

Now, in 2024, Adidas has once again begun selling its remaining Yeezys, possibly signaling the end of this ongoing story. Skeptics contend that Adidas' fluctuating position presents them as uncertain and lacking in firmness. Despite the controversies, there are doubts about whether these actions have truly improved Adidas' reputation.


Popular posts from this blog

Stepping Up Your Sneaker Game: Unveiling the Hottest Yeezy Shoes

Adidas Has Reportedly Sold Its Yeezy Stock For $565M After Cutting Ties With Kanye West

YEEZY Frenzy: Massive Restock Unleashed With 50+ Styles