- Adidas is sold in Yeezy shares, closing the book on one of its most successful partnerships.
- The partnership ended in 2022 after the anti -Semitic comments of YE.
- Adidas saw an increase in sales of 12% in 2024, despite a 2% drop in North America.
The long saga of Adidas and Yeezy is coming to an end.
The sport giant published its results in 2024 on Wednesday, where the CEO of Adidas Bjørn Gulden told investors that there were no more Yeezy products in his inventory. Adidas announced its intention to sell the remaining 268 million euros, or $ 289 million from Yeezy Inventory in February 2024.
The company has achieved its objective in the fourth quarter of 2024, generating around 650 million euros in income from sales in Yeezy, he reported. The Yeezy brand started in 2015 as a collaboration with Kanye West, known as YE, but the partnership became sour and ended in 2022 after a series of anti -Semitic diatribes by Ye.
Although Adidas saw a 12% increase in sales adjusted in foreign currency for 2024, its North America region was affected with a 2% drop in income “entirely due to the significantly lower sale of Yeezy products,” reported the company.
Last year, you castigated the German brand in a series of Instagram messages accusing it of selling “Fake” Yeezys and not paying it for its sales.
Adidas condemned the comments “unacceptable, hateful and dangerous” in 2022. A legal battle ensued, and Adidas said in October that he had reached a regulation outside the field with the rapper.
In the aftermath of breaking a lucrative relationship, Adidas expected a short -term negative impact on its sales. Gulden took office as CEO in 2023, and Adidas resumed its momentum, signaling a 10% increase in neutral revenues in the group in the third quarter of 2024.
“Although we are not yet where we want to be long term, it was a very successful year that confirmed the strength of the adidas brand,” Gulden said in a press release on Wednesday.
Meanwhile, you have at the center of the controversy. Earlier this year, described as a Nazi in a series of messages to X. In February, he appeared in an ad during Super Bowl Lix viewers to a website with a shirt with a swastika.
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