Adidas could be forced to burn as much as $500 million worth of Yeezy sneakers after hastily cutting ties with rapper Kanye West last year over anti-Semitic remarks.
The German sportswear giant is left with few good options for its Yeezy brand – a once-popular and lucrative segment of its business that was irrevocably tainted during West’s high-profile meltdown.
If Adidas is unable to find buyers for the sneakers, one possible path to resolving the dilemma would be “literally burning the shoes,” the Washington Post reported, citing industry experts. Adidas’ remaining Yeezy inventory is estimated to be worth between $300 million and $500 million.
Adidas wouldn’t be the first company to torch its product. Several retailers, including Burberry, Coach, Victoria’s Secret, Louis Vuitton and Nike, have opted to destroy inventory that went unsold as a means of clearing surplus supply.
Read more at https://nypost.com/2023/03/06/adidas-could-literally-burn-500m-in-unsold-yeezy-apparel-report/
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