Adidas says loss may hit €700m if Yeezy shoes unsold

The sportswear group terminated its lucrative design partnership with Kanye West after he made a series of antisemitic and racist remarks

Adidas had become heavily dependent on the Yeezy line, which it dubbed one of the most successful in the industry’s history, and it took weeks of deliberations inside the company before it finally terminated the partnership.

Adidas said it may report an operating loss of €700m in 2023 as it deals with the fallout from the dispute with rapper and former partner Kanye West.

The German sneaker brand said if it has to write off all existing Yeezy inventory it could report such a loss in 2023. It has previously flagged that its profit and revenue have been hurt by the damage from ending the lucrative line.