Yeezy Shoes Are Still Piled Up in Warehouses , After Adidas Split With Ye.
Adidas ended its partnership with Kanye West over his antisemitic comments almost seven months ago.
Associated Press reports that Adidas still has $1.3 billion worth of unsold Yeezy shoes.
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On May 5, CEO Bjorn Gulden said the company is "getting closer and closer to making a decision" about what to do with the shoes.
Gulden also revealed the company had lost $441 million in sales at the beginning of 2023.
However, there are "so many interested parties" and "options are narrowing" when it comes to the Yeezy shoes, Gulden said.
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Previously, Gulden said selling them would mean Ye would receive royalties, restitching them would be dishonest, and providing them to people in need could lead to them being resold.
Adidas faces another issue involving its ties to Ye, AP reports.
Investors recently filed a lawsuit claiming that Adidas knew about Ye's offensive behavior years before ending their partnership and failed to take appropriate action to reduce financial losses.
Adidas denies "these unfounded claims and will take all necessary measures to vigorously defend ourselves against them."
