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Adidas says it may write off remaining unsold Yeezy shoes after breakup with Ye
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FILE - Yeezy shoes made by Adidas are displayed at Laced Up, a sneaker resale store, in Paramus, N.J., on Oct. 25, 2022. Adidas forecast it may have to write off the remaining 300 million euros ($320 million) worth of Yeezy shoes left unsold after it cut ties with rapper Ye, formerly known as Kanye West. The company on Wednesday, Nov. 8, 2023 said it will decide in the coming weeks whether or not to do a third release of the shoes next year to generate more donations to groups fighting anti semitism. - photo by AP Photo/Seth Wenig, File
FRANKFURT, Germany (AP) — Adidas believes it may have to write off the remaining 300 million euros ($320 million) worth of Yeezy shoes left unsold after it cut ties with rapper Ye, formerly known as Kanye West. The company said it will decide in the coming weeks whether or not to do a third release of the shoes next year to generate more donations to groups fighting antisemitism. The shoe and sports clothing company, which cut ties with Ye in October 2022 after he made antisemitic remarks online, has sold 750 million euros worth of the shoes in two stages earlier this year through Adidas smartphone apps and its website.