Yeezy Sneakers Stock Nets Adidas $437 Million
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Adidas reports a revenue of $437 million in the first release of leftover Yeezy sneakers from their nixed deal with Ye, formerly known as Kanye West. The first run of shoes hit online in June, selling out. The second run began to sell on Wednesday.
The sale of the sneakers was the efforts to empty their inventory responsibly. After the first launch, CEO Bjørn Gulden said, “We will continue to carefully sell off more of the existing Yeezy inventory,”
Adidas has also announced the donation of over 10 million euros to groups like the Anti-Defamation League, the Philonise & Keeta Floyd Institute for Social Change, and Robert Kraft’s Foundation to Combat Antisemitism.
According to Billboard, 20% to 25% of the stock was unloaded in the first sale.
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