Yeezy

Oversupply of once-hyped sneakers like Jordans has caused resale prices to plummet, pushing smaller platforms out of the market and sending the bigger players scrambling to adapt.

The Russian designer has teamed up with rapper Kanye West to design menswear for Yeezy and inked a deal with a new financial backer to relaunch his Gosha Rubchinskiy label.

After severing ties with Ye, Adidas was left to deal with $1.3 billion worth of unsold merchandise, which it considered destroying but decided to sell instead, beginning with a first drop in May. That turned out to be the right decision.

The German apparel maker takes the hip hop artist formerly known as Kanye West to court, claiming Ye used marketing funds for unauthorised purposes.

At its annual meeting Thursday, the company confirmed plans to sell its remaining stock of Yeezy sneakers rather than destroy the merchandise. Adidas also told investors that an investigation into Ye’s workplace misconduct did not substantiate claims of harassment.

It’s been nine months since Gap Inc. ousted its chief executive officer. Since then, it’s ended a once-promising partnership with Kanye West (a.k.a Ye), shaken up its executive ranks, delivered disappointing results and, so far, failed to name a successor.

The German sportswear giant hinted it could try to sell already produced sneakers from the collaboration, but predicted its first annual loss in over three decades.

The sportswear giant cut its profitability forecast for the fourth time this year as it continues to confront the fallout from its split with Ye.

The activewear giant reports earnings this week and has promised an update on its breakup with Ye. That, plus what else to watch for in the coming days.

The German sportswear giant’s partnership with Ye generated $1.7 billion in 2021, accounting for nearly 7 percent of its annual revenue. Now that the company has cut ties with the rapper, will it keep selling Yeezy designs?