Adidas is releasing a second wave of Yeezy shoes into the market as it moves to clear out the inventory of its defunct collaboration with Ye, formerly known as Kanye West. The sportswear company had been under pressure from investors to determine what to do with the merchandise after Adidas, in 2022, terminated its partnership with Ye because of his offensive and antisemitic remarks. Adidas disclosed in May that it would sell the remaining Yeezy stock “and donate money to the organizations that are helping us and that was also hurt by Kanye’s statements.”Adidas is releasing more unsold Yeezy products for sale in August. - AdidasThe company had previously said it expected to lose $1.3 billion in revenue this year because it was unable to sell the designer’s Yeezy clothing and shoes. But strong sales so far of leftover Yeezy inventory is helping it to recoup some of its losses, the company said.

Source: CNN July 28, 2023 16:15 UTC