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Adidas To Sell Stockpile Of Yeezy Shoes
Easy enough.Shoe the migrants and homeless with a Biden grant. [ZeroHedge] Warehouses operated by Adidas AG are stuffed with a market value of more than $1 billion of unsold Yeezy products. Top executives have been mulling over what to do with all those Yeezy shoes since it terminated its contract with Kanye West last October. Adidas' new CEO Bjorn Gulden offered new insight Thursday at an annual shareholder meeting of what he plans to do with the shoes. "Burning is not the solution," Gulden said. He said over time, the German sportswear maker will "try to sell parts of the product" and donate the profit to charities of people who "were hurt" by West's antisemitic comments last year. Adidas previously warned that if it were to dispose of the remaining inventory of Yeezy shoes -- it would suffer an operating loss of as much as €700 million ($765 million) in 2023. This would mark the company's first loss in three decades. Related: Kanye West: 2023-03-18 Chris Christie Isn't Done Embarrassing Himself Yet Kanye West: 2023-02-01 ‘Get him for Kanye’: Man wearing Star of David necklace beaten at DC-area grocery Kanye West: 2023-01-21 'Painful wait': Jeff Bezos visit to Washington Post stokes fears of layoffs Posted by: Skidmark 2023-05-13 |
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