NKE - Adidas Banks On Retro Sambas To Fill $2B Void After Yeezy's Partnership With Ye Falls Apart | Benzinga
The classic Adidas (OTC:ADDYY) Samba sneaker is the must-have shoe of the year, filling a significant void left by the collapse of the Yeezy partnership with Ye, formerly known as Kanye West.
As per the Wall Street Journal report, the Adidas Samba, a soccer shoe turned casual sneaker, is now sported by celebrities to sneakerheads. Adidas aims to capitalize on this trend to fill an estimated $2 billion-a-year gap created by the dissolution of its Yeezy partnership.
“We've been seeing this groundswell of excitement for retro sneakers globally,” said Torben Schumacher, general manager of Adidas Originals. The company is now increasing production of its retro models, potentially reaching a rate of 15 million pairs a year, according to CEO Bjørn Gulden.
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Adidas has faced challenges in keeping up with the demand for ...