By Mariko OiBusiness reporter
Getty ImagesAdidas plans to sell remaining stocks of Yeezy sneakers from its defunct partnership with Kanye West, for at least the price it cost to make them.
The firm cut ties with the rapper and fashion designer, who is also known as Ye, in 2022 after he made a series of antisemitic comments on social media.
But demand for Yeezy sneakers has not faded, as they remain hugely popular in the resale market.
It comes after currency fluctuations cost the firm €1bn ($1.08bn; £850m).
The German sportswear giant’s finances were impacted last year by the discontinuation of the Yeezy business and as it cut prices to wholesalers to shrink stockpiles of goods, Adidas said in a statement.
Despite facing significant headwinds, Adidas posted an operating profit of €268m in 2023 and said it expects to almost double that figure this year.
“The improvement is due to the…
