Here Come More Yeezys

Welcome back to FN Daily, where we break down the biggest stories happening in footwear and retail.

Adidas announced more Yeezy drops. Plus, we have a dispatch from Coterie and an analysis of how shoe brands are progressing on their turnaround plans.

Here's what you need to know.

Adidas Will Drop More Yeezys Over the Next Few Weeks

Adidas has resumed its sale of existing Yeezy merchandise, with several product launches set for the coming weeks.

Adidas will sell its remaining Yeezy inventory, which includes products made in 2022, starting with the launch of the 350 V2 in Steel Grey. Consumers will be able to purchase the products via Adidas’ websites and apps.

Zoom out: The upcoming releases follow two similar drops in 2023 after Adidas decided to start selling?Yeezy?merchandise once again after?it?parted with Yeezy founder Kanye West?and his brand last October in light of repeated antisemitic statements. These two successful Yeezy drops lifted net sales by 750 million euros in 2023, compared to more than 1.2 billion in Yeezy revenues in 2022. Overall, Yeezy profits represented about 300 million euros in 2023.

Adidas said it donated a “significant” portion of proceeds from these sales to organizations representing people who “were hurt” by Kanye West’s comments.

How Wolverine, Under Armour and VF Are Progressing On Their Turnaround Plans, According to Analysts

After a rocky 2023, some major shoe brands say they are finally turning the corner.

In the last few weeks, executives from Wolverine Worldwide, Under Armour and VF Corporation said they are progressing on their respective plans — which were laid out in 2023 — meant to turn around sagging parts of their businesses.

Here, we took a look at where these three major shoe companies stand on their progress plans— and what analysts say to expect in the short and long term.

For example: According to Williams Trading analyst Sam Poser, Under Armour’s efforts to revamp its footwear category are beginning to come to fruition in subtle ways.

“We are slowly beginning to see small improvements, and expect to continue to see improvements in Under Armour’s product offerings, and better defined allocation and segmentation strategies,” he wrote in a Feb. 8 note. “Those improvements, in our view, will lead to a stronger Under Armour brand, and position the company for a positive and profitable growth inflection in North America.”

Footwear Brands at Coterie and Magic New York Tout New Styles for Fall ’24 to Help Energize Market

Much like the sentiment heard at FFANY, Atlanta Shoe Market and Micam earlier this month, attendees at Coterie and Magic New York this week were optimistic about 2024 business.

Indeed, the positive mood was the common theme this season at New York City’s Javits Center, which hosted Coterie and Magic between Feb. 20–22. The co-located shows featured the latest footwear, apparel and accessories to retailers as market appointments start to wind down for the fall 2024 buying season.

According to show organizers, there were over 750 exhibitors at Coterie this season, with over 65 footwear brands on the floor. Of the footwear brands on the show floor, 26 percent were new to Coterie this season.

“The overall sentiment is that everyone is here to do business,” Purvi Kanji, the newly appointed vice president of Coterie, told FN in her first interview as VP. “It’s been consistent, I think there’s been some changes coming out of COVID. That’s a given. I think our footprint also is a little bit more intentional than previous seasons. And we’ll continue to do more of that so that it’s easier for buyers to find what they’re looking for.”

Read more about the show, here.

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