Unsold Yeezy shoes earned Adidas more than half a billion in sales earlier this year when the shoemaker opted to sell some of its leftover merchandise.
Unsold Yeezy shoes—designed by controversial rapper Kanye West—earned Adidas more than half a billion in sales earlier this year when the shoemaker opted to sell some of its leftover merchandise, theMonday, after West made a series of antisemitic and racist comments leading the company to cut ties with the music star.Key Facts
In May, some four million orders brought the German shoe company roughly $565 million when Adidas put up for sale the unsold shoes which were left over after it parted ways with West — who now goes by Ye — in October, theTimes— evidence that West’s association with the sneakers was not fatally harmed by his remarks.
Adidas previously said it planned to donate some of the proceeds from the sales to organizations fighting antisemitism and racism; people familiar with the matterMonday that the company plans to donate more than $9 million to five charities in the U.S. and China. The sale of some of its Yeezy inventory helped Adidas reduce its projected 2023 operating loss from $775 million to $598.56 million, the company$440 million. That’s how much discontinuing West’s brand cost Adidas in sales in the first quarter of 2023 alone,
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