Amid the company’s third release of Yeezy brand products, some of the supply has made its way to Adidas outlet stores, a first for the Yeezy brand.
As Sole Retriever reported, the shoes remain incredibly popular. Adidas has, however, been able to reduce its supply significantly from its starting point shortly after the scandal when it was reported it possessed more than $1 billion in Yeezy products. In 2023, Adidas tried a direct approach, combining sales at retailers and through its Confirmed mobile app with a first-come, first-served waiting list for new releases or drops on its own official website.
As the outlet reported, according to Adidas’s Q1 2024 earnings report , the shoe company has $215 million worth of the Yeezy brand product. It appears that Adidas has moved to allow discounts on the shoes, which contradicts the strategy reported in its earnings report.
Some of the shoes have even popped up at Adidas outlet stores in Dubai , as reported by Complex . Some of those outlets have marked them at 50% less than Adidas’s MSRP.
Per Adidas’s earnings report, “On April 16, Adidas upgraded its full-year financial guidance as a result of the better-than-expected performance in the first quarter. Adidas now expects currency-neutral revenues to increase at a mid- to high-single-digit rate in 2024 (previously: increase at a mid-single-digit rate). Within this guidance, it is assumed that the remaining Yeezy inventory will be sold on average at cost, resulting in sales of around €200 million throughout the remainder of the year. This corresponds to a projected total amount of Yeezy-related sales of around €350 million in FY 2024 (previously: around €250 million), of which around €150 million were generated in the first quarter.”
Confirmed! Yeezys in my local Adidas outlet
