Jul 24, 2023 at 11:16 Update: 30 minutes ago
Sneaker enthusiasts have recently ordered Yeezy sneakers from adidas for 508 million euros. These are sports shoes that are left after the split between the German sports brand and rapper and fashion designer Ye, who used to be called Kanye West.
The collaboration between the musician and the sports brand was very successful for years, but came to an end last year when Ye made anti-Semitic statements. As a result, Adidas was left with a large residual batch of Yeezy sneakers.
Part of it went on sale at the end of May and customers were very enthusiastic. In a short time, adidas has sold four million pairs of sneakers, for a total of more than half a billion dollars. Anonymous sources report this to the British business newspaper Financial Times. Adidas does not want to confirm the news in the run-up to the publication of the quarterly results.
The Germans have previously indicated that part of the proceeds from sneaker sales will go to charities. Among other things, the company has a foundation in mind that fights anti-Semitism. Money should also go to the Philonise and Keeta Floyd Institute for Social Change, a foundation of George Floyd’s surviving relatives. He was killed by police brutality in 2020, which led to major protests worldwide.
It is not yet clear what part of the proceeds will go to charities. Part of the money will go to Ye anyway due to contract obligations. adidas is also setting aside money for the costs related to the end of the collaboration, such as layoffs, legal costs and closing factories.
adidas will probably sell even more Yeezy sneakers in the near future.
2023-07-24 09:16:38
#Mass #interest #Yeezy #sneakers #Adidas #breakup #Economy
