Has any actually reliable source reported that Adidas is considering working with him again?
CEO yesterday: Rumors that the company was in talks to sell them, however, “are not true.”
Not sure if that means to other companies or what bc in the article he brought up selling them and giving away the profit to charities. It's a tough spot for Adidas. It's a lot of product to eat and you don't want to see it just destroyed. Bleach them, remove insole, and give them people in poverty countries that don't have a Stockx on every corner.
Adidas is still wrestling with how to dispose of 1.2 billion euros ($1.3 billion) worth of Yeezy shoes after its breakup with the rapper formerly known as Kanye West, forcing the German sportswear maker into a big loss at the end of last year and expectations of more pain ahead. CEO Bjorn...
finance.yahoo.com
Destroying them could “raise sustainability issues," though some companies have offered recycling solutions, said Gulden, who was
named CEO after the blowup over Ye’s remarks. Restitching them to hide the Yeezy brand so they could be sold “is not very honest, so it’s not an option,” he added.
Suggestions to give them away to those in need in places like earthquake-hit Syria or Turkey would mean the product would “come back again very quickly” due to its high market value, "so that's not really an option,” Gulden said.
If Adidas does decide to sell the shoes, "I can promise you that the people that have been hurt by this will also get something good out of it and get donations and proceeds in different ways, shapes or forms,” the CEO said.
Adidas split with Ye in October, following other brands that were facing pressure to end ties with the rapper over his antisemitic and other offensive remarks. The company is now
struggling to find ways to become profitable again and replace its banner Yeezy line, which analysts have said amounted to as much as 15% of its net income.
The Ye breakup cost 600 million euros in lost sales in the last three months of 2022, helping drive the company to a net loss of 513 million euros. The decline, also attributed to higher supply costs and slumping revenue in China, contrasts with profit of 213 million euros in the fourth quarter of 2021.
More losses could be ahead, with the company forecasting a 500 million-euro hit to profit earnings this year if it decides not to repurpose the remaining Yeezy products in stock. The company is predicting a 2023 operating loss of 700 million euros.
Gulden said “so many companies” were willing to buy the popular shoes but that would mean paying royalties to Ye. Rumors that the company was in talks to sell them, however, “are not true.”