Retail Media Networks: Why Every Retailer Wants to Be the Next Google
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Adidas’ executive board has decided to forgo a third YEEZY release this year.
Adidas’ executive board has decided to forgo a third YEEZY release this year. According to the company’s press office, the sale of the brand’s remaining inventory, scheduled for sale in November, has been paused.
An internal adidas memo last week reportedly stated, “As a brand, we will not do a new drop for the remainder of the year both for our internal e-com and retail as well as wholesale.” “We will not be shipping out any new stock; this direction was given at the board level.” The release was expected to feature the adidas YEEZY BOOST 350 V2 in “Bone,” “Onyx,” and “Zebra” colorways, along with select adidas YEEZY 500 and 700 styles.
Adidas calls the new release the “Aurora 3” in its media release. According to market sources, “Aurora” is a codename for YEEZY products. Specifically, in internal documents, Adidas mentioned the release of “Aurora 1” and “Aurora 2” in May and August.
After breaking the contract with Kanye West in the fall of 2022, Adidas received about $1 billion worth of YEEZY inventory. After lengthy negotiations, the company still decided to sell off the products and use the proceeds to help “organizations fighting discrimination and hate, including racism and anti-Semitism.”
The Adidas website and app will sell items from the 2022 collections.
The retailer has revised its plans due to high reputational risks.
The failure to cooperate with Kanye West puts the German sports giant's business in a difficult position.
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