adidas Made Over $560 Million During May Yeezy Restock

Adidas garnered an incredible $565 million in orders for 4 million Yeezy sneakers during their May restock. The demand exceeded expectations, leaving the company unable to fulfill all orders, especially for specific sizes and popular models.

During the 2023 Q1 shareholder meeting, Adidas CEO Bjørn Gulden disclosed a $441 million drop in year-to-year sales, largely due to the fallout with Kanye West in October 2022. However, repurposing the remaining stock prevented operating losses from soaring to $772 million.

Fortunately, the strong demand for the May Yeezy restock potentially saved Adidas from a significant write-off on their remaining stock, avoiding an additional €500 million (about $537 million) decrease in operating profit this year.

Exciting news emerged last week with rumors of another Yeezy release wave circulating online. Adidas and major retailers, including global sneaker chain Foot Locker, are reportedly preparing to start selling the Yeezy Boost 350 V2, Yeezy Slides, and other styles as early as August.

This much-anticipated release could be a game-changer for Adidas, boosting sales and capitalizing on the ongoing popularity of Yeezy sneakers in the market. With eager consumers awaiting these new drops, Adidas is positioning itself to further solidify its presence in the sneaker industry.

Source: Financial Times

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