Posted on 02/28/2023 4:37:46 PM PST by algore
Adidas could be forced to burn Yeezy sneakers worth around half-a-billion dollars after rapper and fashion designer Kanye West's anti-Semitic outbursts.
The sportswear brand is struggling over what to do with its massive stockpile of the shoes, which retail for between $200 and $600
Analysts now say Adidas, which has already said the debacle hit revenues by $1.3bn, could be forced to burn the stock - because it risks a PR nightmare if they are still sold at a discount.
The company's decision to drop West capped the rapper's fall from grace after a pattern of increasingly erratic behavior and anti-Semitic outbursts.
In October, he said in a social media post that he would go 'death con 3 on Jewish people', then doubled down in media interviews with comments that included vile remarks about Jewish people.
the Yeezy line was worth about $2 billion per year in revenue for Adidas, adding: 'What makes this so dramatic is how big it is.' He said the commercial dilemma was confounded by the 'abruptness' of West's downfall.
stripping the trainers of the Yeezy label and selling them at a discount as 'zombie Yeezys' was a risk because the brand could still be seen as 'profiting off of a collaboration with someone who made blatant anti-Semitic statements'.
Burning or otherwise destroying the shoes would be the most extreme option - but it is something other fashion brands have done previously, albeit under different circumstances. Luxury brands like Louis Vuitton and Burberry have previously faced criticism for burning unsold sold to preserve brand value.
Elizabeth Napier, an assistant professor at the University of Toledo, told the Post Adidas should offer the stock to charities to help with disaster relief, including those supplying aid following the earthquakes which recently hit Syria and Turkey.
(Excerpt) Read more at dailymail.co.uk ...
“Anti Semitic remarks”. Give them to Biden. He can send them to the Azov Battalion.
I confess that while Kanye has edged close to sounding antisemitic, I haven’t actually come across anything that really *is* antisemitic. Anyone have any quotes, in context, where he’s antisemitic?
Burn them? Why not donate them to the poor in some Third World hell hole? Were they never heard of Kanye?
“Funny. I just read yesterday that Adidas was started by and named for a Nazi sympathizer.”
I remember reading something about that awhile ago. Can’t recall all the details, but do recall that Adidas was a joint venture between 2 brothers in Germany prior to the 1932 Olympics. There was some sort of business disagreement between them after WW2 so they split the company up. One brother kept the “Adidas” brand and the other founded the “Puma” brand.
What would the writer construe as a Kanye West anti-Semitic outburst?
I am not asking for a friend.
Looks like a Crocs knockoff from the future.
What ever happened to all of Hilarys Fireworks ?
Forget the retail value. Given where made their costs including shipping and warehousing are probably 5-10% of that number.
“anti-Semitic statements...” Adidas is managed by weak cowards with hurt feelings and stuff. Lame company.
Heck, Kayne gave Adidas the start of an awesome marketing campaign.
For a company founded by a Nazi, you'd think they could work something out.
They will make a fortune calling them “Get Whitey” sneakers.
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