Adidas cuts ties with Kanye West, sells remaining Yeezy sneakers at cost, and expects to nearly double 2022's operating profit in 2023.

Adidas plans to sell its remaining Yeezy sneakers from its partnership with Kanye West at least at cost price after cutting ties with the rapper and fashion designer in 2022 due to antisemitic comments. The company's finances were impacted by the discontinuation of the Yeezy business and price cuts for wholesalers to shrink stockpiles. Despite these challenges, Adidas posted an operating profit of €268m in 2022 and expects to nearly double that in 2023.

January 31, 2024
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