Adidas Could Potentially Never Release Its Remaining YEEZY Stock
Shared by adidas CEO Bjørn Gulden during a recent conference call.
Following word of the adidas executive board pausing all YEEZY releases, the German sportswear brand could potentially never release its remaining stock. During a recent conference call, adidas CEO Bjørn Gulden shared that the company is exploring the possibility of no longer entertaining the idea of dropping YEEZY products.
Currently, adidas has €300 million EUR (approximately $321 million USD) worth of adidas YEEZY stock left following its releases earlier this year. If it does plan to never release its YEEZY stock, adidas will need to pay a €200 million EUR (approximately $214 million USD) removal cost.
Additionally, adidas is currently planning to donate €140 million EUR (approximately $150 million USD) generated from its two YEEZY drops this year to organizations working to combat discrimination and hate, including racism and antisemitism. “We of course hope that we can do more drops next year and that we can get value out of it and donate proceeds to anti-hate groups but right now, financially, we haven’t made the decision,” Gulden said.
In case you missed it, a teaser for Prada x adidas by Jerry Lorenzo surfaces.
