Adidas, the global leader in the sporting goods industry, has announced a further release of its Yeezy inventory in August 2023. This move comes after the company's successful sale of the Yeezy product line in May 2023, following the termination of its partnership with rapper and designer Kanye West, now known as Ye.
The August release will feature a range of existing products from the previous year, including some of the most popular designs such as the Yeezy Boost 350 V2, 500 and 700, as well as the Yeezy Slide and Foam RNR. These products will be available through Adidas' digital platforms, including the CONFIRMED app, adidas.com, and selected wholesale partners' digital platforms. The phased release is designed to manage demand while ensuring a fair and premium experience for consumers.
The decision to release more Yeezy inventory follows the successful sale of $4 million sneakers in May, which generated $565 million in online orders. Despite the discontinuation of the Yeezy business causing a 20% decline in sales in North America, Adidas managed to reduce its expected full-year operating loss from $772 million to $499 million, thanks to the successful first Yeezy sale.
In addition to the release, Adidas has committed to donating a significant amount from part of the proceeds to selected organizations fighting antisemitism and racism. This includes the Anti-Defamation League (ADL) and the Philonise & Keeta Floyd Institute for Social Change, among others. The company also plans to include blue square pins with selected products sold directly by Adidas in North America, a symbol established by the Foundation to Combat Antisemitism (FCAS) to stand against antisemitism and all forms of hate.
The release of the Yeezy inventory is part of Adidas' commitment to responsibly manage the remaining Yeezy merchandise after terminating its partnership with Ye. The company has been exploring multiple scenarios for the potential use of the existing Yeezy inventory, seeking feedback from a diverse group of employees, organizations, communities, and consumers.
