adidas to Sell the Rest of Their Yeezy Stock for 2024
Last year, news of Ye and working together again , indicating that the duo would merely sell the remaining stock of silhouettes. A couple of months after that announcement, adidas revealed that they would halt the sale of Yeezy products due to unknown specific reasons, other than a spokesperson from adidas telling that the 'direction was given at the board level'.
Now, after months of delays, the Three Stripes have finally confirmed that the remaining Yeezy inventory will be available for the public to purchase due to their full-year results exceeding their expectations. According to , 'the outperformance was driven by a better-than-expected operational business in Q4 and the company’s decision not to write off the vast majority of its existing Yeezy inventory'. As a result, 'the company plans to sell the remaining Yeezy product at least at cost in 2024'.
Additionally, based on the report, the company made an underlying operating profit of €200 million last year excluding the Yeezy profits worth €300 million. 'Our fourth quarter developed a little better than expected and we have decided to release preliminary numbers. For the full year our currency-neutral revenues were flat, and we reached an operating profit of €268 million,’ adidas CEO Bjørn Gulden shared. 'The improvement is due to the better operating business of around €100 million and the decision to not write off €268 million of Yeezy inventory. Our consumer, retail and trade research has shown that we can sell this remaining inventory in 2024 for at least the cost price'.
No details of what silhouettes will be available have been disclosed yet. Stay locked to Sneaker Freaker for more updates.